As of November 25, 2020, Value Protection Indexed Universal Life (VPIUL) will no longer be offered for sale. This decision was made due to low sales along with illustration impacts of the upcoming regulatory changes due to Actuarial Guideline 49-A (AG49-A). While Value Protection IUL is being retired, Securian Financial will continue to offer Eclipse Protector II IUL as a protection focused IUL alternative to meet your clients’ needs.
Transition Rules:
- Applications (both paper and electronic) will be unavailable after October 13, 2020. eApps must be locked and submitted by end of day October 13, 2020, or they will be lost
- All Value Protection IUL Applications must be UNDERWRITTEN, APPROVED, PAID AND DELIVERED (delivery receipt signed) on or before Tuesday, November 24, 2020, at 3:00 p.m. Central Time.
- Pending VPIUL cases that have not completed these requirements by Tuesday, November 24, 2020, at 3:00 p.m. Central Time will be asked to make a new product selection.