Repricing of Protective ‘Classic Choice Term 5/22
- Only Level Term Rates are changing with small decreases.
- Post-level rates are unchanged.
- Smoker rates are unchanged.
- NY rates are unchanged.
Business Transition Rules:
- For paper business, applications must be signed and received on or before May 16, 2022.
- For ticket business and direct writer; applications must be signed and received on or before May 30, 2022.
- Any application in Underwriting on May 2, 2022 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, however the plan codes are changing so they will follow the above rules.