As part of the 2017 CSO update, Zurich has launched new products that are replacing those that will be retired at the end of the year:
Zurich Term (10, 15 and 20 Year)
- No modal factors
- Minimum of $1 M face amount
- Convert to any available product within first five policy years
Zurich Select IUL (Death Benefit Focus)
- Optional Death Benefit Guarantees up to age 100 (alternative to NLG products)
- Long Term Fixed Account option (alternative to Fixed Current Assumption UL)
- Four index interest accounts including a high cap account
- 12 % guaranteed bonus starting in year 10
Zurich Wealth Builder IUL (Cash Accumulation Focus)
- Competitive Cash Values
- 15% Guaranteed bonus starting in year 6
- Four index interest accounts including two uncapped accounts
- Two participating loan options
The products which will retire at the end of the year, in all states, include:
- Zurich Value IUL
- Zurich Accumulation IUL
- Zurich Guaranteed Death Benefit UL
- Zurich Protection UL
- ]Zurich Survivor Index UL (replacement product in development for next year)
For Zurich Accumulation Index UL & Zurich Value Index UL:
- All formal applications must be received by the administrative office in good order by October 14, 2019, as previously communicated.
- All changes and requirements for formal applications must be received by the administrative office in good order by December 9, 2019.
- All delivery and premium requirements must be received by the administrative office in good order and the policy must be placed inforce by December 27, 2019.
For Zurich GDBUL, Zurich Protection IUL, Zurich Protection UL & Zurich Survivor Index UL:
- All formal applications must be received by the administrative office in good order by November 14, 2019.
- All changes and requirements for formal applications must be received by the administrative office in good order by December 9, 2019.
- All delivery and premium requirements must be received by the administrative office in good order and the policy must be placed inforce by December 27, 2019.