Indexed Universal Life Policy Changes Alert

Paul Pichie

4/3/2023 · 2 min read

IUL Policy Changes Alert Important Update: Discuss Indexed Universal Life Insurance Before May 1st, 2023

An Urgent Message for BackNine Insurance Agents:

We hope this newsletter finds you well. We are writing to inform you of an important update that may impact your clients’ future Indexed Universal Life (IUL) insurance decisions. Due to upcoming changes to Actuarial Guideline 49 (AG49), we strongly recommend discussing IUL policies with your clients before May 1st, 2023.

Upcoming Changes to AG49

Actuarial Guideline 49, which governs the illustration of Indexed Universal Life insurance policies, is undergoing significant updates. These updates are expected to result in a shift towards more conservative illustrations after May 1st, 2023. The changes aim to provide clients with a more realistic outlook on the potential performance of their IUL policies. Image

Why Discuss IUL Before May 1st?

As an agent, you play a crucial role in helping your clients make informed decisions about their life insurance options. By discussing IUL policies with your clients before the AG49 changes take effect, you can provide them with a clear understanding of the current landscape and how it may differ after the updates.

By addressing IUL options before May 1st, your clients will have the opportunity to:

  1. Gain a comprehensive understanding of IUL policies under the current AG49 guidelines.
  2. Compare the potential impact of the updated guidelines on their policy illustrations.
  3. Make informed decisions about their life insurance coverage based on a more transparent outlook.

Preparing for the Conversation To ensure you are well-equipped for these discussions with your clients, we recommend taking the following steps:

  1. Familiarize yourself with the upcoming changes to AG49 and understand how they may impact IUL policy illustrations.
  2. Review your clients’ existing IUL policies and identify potential adjustments they may want to consider.
  3. Prepare clear and concise explanations to address your clients’ questions and concerns.

Support and Resources

We understand the importance of keeping abreast of industry updates, and we are here to support you every step of the way. We will be providing additional resources and training materials to help you navigate the upcoming changes to AG49 effectively.

Thank you for your continued dedication to providing exceptional service to your clients.

If you have any questions regarding illustrations showing IUL for growth and accumulation, IUL for guaranteed death benefits, or IUL with Long Term Care (LTC) please contact your BackNine marketing manager through your BOSS software or BackNine’s Director of Advanced Markets, Paul Pichie at 818.221.0010 - [email protected].