More reductions, especially in the Preferred classes, means more #1 pricing than any other carrier.
Changes to level period premium rates includes a mix of increases and decreases, across all level term periods (10 – 40 years). Both annual and monthly rates are highly competitive!
Effective date: 4.5.2021
Plans: New rates for OPTerm 10, 15, 20, 25, 30, 35 and 40
Classes: All non-tobacco and tobacco underwriting classes
Bands: All bands
Policy fee: No change
Modal factor: No change
Compensation: No change
Transition Rules for Submitted and Pending New Business
Traditional Paper Applications
New applications received in the home office by May 5, 2021, and applications will be issued with the new rates.
AppAssist (Traditional or Digital Applications)
Formal applications received by May 5, 2021 will be issued with the most favorable premium for the insured. In order for the policy to be eligible for prior rates, the drop ticket should be submitted with enough time for the online application or telephone interview to be completed and submitted by May 5, 2021. New rates will apply to all completed interviews and subsequent formal applications received May 6, 2021 and later.
Direct-Access Distribution Partners Only:
Recently issued policies can be considered for reissue, with the new rates, provided the free look period has not expired. Make sure you indicate that you want the policy reissued with the new rates.