Effective Nov. 15, 2019, Trendsetter® Super term life insurance in New York and the Virgin Islands will no longer be available for sale in those markets. We will re-enter the term insurance markets in the state of New York when financial and regulatory conditions allow us to do so.
Until then, we are announcing an updated version of our index universal life product and a new low-cost, level premium whole life product for sale within these markets in the next several weeks. The transition guidelines for the Trendsetter Super products in New York and the Virgin Islands are listed below.
- Paper application must be signed on or before November 15, 2019, AND received by the home office by 4 p.m. ET/3 p.m. CT on November 29, 2019.
- Any paper app signed on or after November 16, 2019, and/or received on or after November 30, 2019, will be rejected.*
- All requirements (including delivery) must be satisfied (in good order) and received in the home office by 4 p.m. ET/3 p.m. CT on December 27, 2019, for the policy to be paid and in force no later than December 31, 2019.
We recognize these deadlines require urgency for your business. The 2017 Commissioners Standard Ordinary table and Principles Based Reserves are driving these hard deadlines and unfortunately do not allow for us to make exceptions to these dates.
* There is a potential for additional/other underwriting requirements when submitting a new app for the new product.