September 21, 2020 v7.7.21
Repricing of Protective® Classic Choice Term
- Rate changes with both increases and decreases for a total overall average impact of 0.05% (0.11 % Sales Weighted) decrease. Overall average decrease to Terms periods 35/40 was 0.69%.
- No changes to Tobacco rates.
- No changes to the New York rates.
- No changes to Post-Level premiums.
- Protective Classic Choice Term (PCCT) product is available in all states.
- The 25, 35, & 40 year term periods are not available in NY.
Business Transition Rules:
- For paper business; applications must be signed and received on or before October 5, 2020.
- For ticket business and direct writer; applications must be signed and received on or before
October 19, 2020.
- Any application in Underwriting on September 21, 2020, may choose the version of the product
(old or new) but will retain the rates they are initially quoted unless otherwise requested up until
the case has been approved.
- NY does not have a rate change, but the plan codes are changing so they will follow the above