June 2020 Carrier Updates

June 2020 Carrier Updates

Last Updated: June 30

In addition to the carrier updates below, you may also be interested in:


  • Transition rules for postponed GUL, VUL cases. Following the premium increase effective May 30, here are transition rules for GUL and VUL cases that may have been postponed due to COVID-19 guidelines. For all cases including those that may be paused or postponed, in order to retain the old product and rates, all requirements must be received by the dates noted and the policy must be placed in force no later than October 31, 2020. Otherwise the policy will move to the new rates.

Need help with any of AIG's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.


  • Process improvements for client ID verification. Foresters Financial™ has improved our personal identification verification process. Now typos or misprints on social security number, address, and date of birth can be corrected by phone. No additional paperwork required. If we are unable to validate your client’s social security number, address or date of birth, a Foresters Case Manager will: (1) Reach out to your client to verify their correct information. If they cannot be reached, a message will be left providing our toll-free number or the option to contact you to give the missing information. (2) Email you with details of the information required to issue your client’s certificate as soon as possible. (3) When Foresters receives the corrected information, we will then validate the client’s identity.

Need help with any of Foresters' products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.


  • New Policy Form Numbers in New York. Effective 06/30/2020, the policy form numbers for the Grow-Up® Plan and Guaranteed Life in New York will change. For a list of policy form numbers and product state availability, click the link above. Please Note: Any applications received or issued after 06/30/2020 will be issued with the new policy. A cover letter stating there is an updated policy form number will be included in the policy kit for any prior version of the application. Premiums will stay the same.

Need help with any of Gerber's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.

John Hancock

  • State Approval: Accumulation Survivorship VUL (SVUL). Approved in all states except California, Delaware, and Guam.
  • State Approval: Protection IUL approved in California. Now approved in California. Our new Protection IUL continues to lead the way with: *highly competitive level-pay premiums. *The best single-pay solution in the industry. *Increased Vitality credits on rated cases, making it even more attractive for clients with substandard ratings. *Diverse range of indexed account options to better meet clients' varied needs. *Enhanced target premiums, with additional 15% target on single-pays and other early-funding designs.
  • Service Levels Update. John Hancock's service levels continue to improve and they remain on track to return to normal levels by June 30.

Need help with any of John Hancock's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.

Legal & General

Need help with any of Legal & General's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.


  • Now Available – Lincoln AssetEdge® VUL (2020) and Lincoln AssetEdge® Exec VUL (2020). Effective June 15, 2020, subject to state approval, The Lincoln National Life Insurance Company is pleased to announce the newest product in its variable universal life portfolio, Lincoln AssetEdge® VUL (2020). This product and its Business Solutions version, Lincoln AssetEdge® Exec VUL (2020), offer a variety of quality Separate Account investment options across all asset classes along with the opportunity for predictability and reduced volatility through a total of four indexed account options. Lincoln AssetEdge® VUL (2020) and Lincoln AssetEdge® Exec VUL (2020) provide death benefit protection with maximum upside potential during the accumulation phase with the Lincoln Elite Series of Funds and additional protection during the distribution phase with four indexed accounts. These products will not be made available in New York at this time.
  • Now Available – Lincoln Enhanced ValueSM Rider Available on Lincoln WealthAccumulate® IUL (2019). Effective June 15, 2020, Lincoln is proud to introduce the new Lincoln Enhanced ValueSM Rider, available on Lincoln WealthAccumulate® IUL (2019). This Rider will replace the current Alternate Cash Surrender Rider, also known as the Exec Rider. The Lincoln Enhanced ValueSM Rider (LEVR) allows business owners to reposition current assets of the company to purchase life insurance, while still being able to maintain the majority of the premiums paid as surrenderable liquid assets. It is primarily sold through Simplified Issue and Guaranteed Issue underwriting programs on multiple lives. The surrender value upon full surrender of the policy to which this rider is attached will be increased to an Enhanced level so that it will be at least as large as the stated percentage of the summed premium contributions to date less Debt.
  • Pricing Update: Lincoln MoneyGuard® Solutions Suite. Given the industry’s historically low interest rate environment and that insurance products with guarantees tend to be more sensitive to macroeconomic trends, Lincoln is making prudent and responsible business decisions to adjust the pricing of our life insurance products. Effective June 15, 2020, Lincoln Financial will implement pricing increases to all products in the Lincoln MoneyGuard® solutions suite. Single pays will see an approximate increase of 20%. Flexible premium payments will see the following approximate increase that trends down as the duration of payments is extended:
    • 5-pays increase 17%
    • 10-pays increase 15%
    • 15-pays increase 12%
    • 20-pays increase 10%
    • 25-pays increase 8%
  • Suspension of Table Reduction Program. In the current economic environment with historically low interest rates and volatile equity markets, Lincoln is committed to proactively managing our business to ensure we are operating responsibly. With that guiding principle in mind, effective June 22, 2020, Lincoln is suspending the Table Reduction Program (TRP) for all life insurance products. Lincoln will honor all qualifying TRP offers made by June 19, 2020, as long as the formal application is received at Lincoln by June 26, 2020, including: o Trial TRP offers made by June 19, 2020 o Formal TRP offers; subject to normal application, product, and/or issue guidelines. For all formal and trial cases received at Lincoln after June 19, 2020, no new TRP offers will be made during this suspension.

Need help with any of Lincoln's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.

Mutual of Omaha

  • IUL Express and GUL Express — Now Available on e-App. IUL Express and GUL Express are now available on the iPipeline e-Application. Not only will you be able to submit your applications electronically, but both products will feature Automated Underwriting, Mutual of Omaha's point-of-sale instant decision process.

Need help with any of Mutual of Omaha's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.


Need help with any of OneAmerica's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.


  • Grace period extension ended in most states. The temporary 60-day extended grace period has ended for all policies going into grace June 1 and after except those in AZ, MI, MO, NJ, NM, NY, OH, and OR. Those policies granted an extended grace period prior to June 1 will continue to receive the full extended 60-day grace period. All others have the standard, contractual grace period. The following tools (login required) can be used to help you manage your book of business and stay aware of policies in danger of lapsing:
    • Manage your existing business by using the policy activity report.
    • Monitor late policy notifications by subscribing to the lapse activity alert.
    • View policy correspondence on the client correspondence report.

Need help with any of Principal's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.


  • Pilot Program Requests Applicants' EHRs. Securian announces a new pilot program to help expedite the underwriting process. For qualifying cases, underwriters will request a client’s electronic health records (EHRs) through Human API, a leading vendor in the space, instead of ordering an Attending Physician’s Statement (APS).
  • Changes to Indexed Life Portfolio. Due to the continuing economic impact of the COVID-19 pandemic, it is necessary to reduce cap rates on some of the accounts within our Indexed Universal Life product portfolio. These changes will take effect for all premium received and new indexed segments created after Friday, June 19, 2020. All premium received on or before June 19 for approved and existing policies will have current rates applied. Illustrations will be updated June 20, 2020. Many considerations go into determining the cap and participation rates – and we want to make sure you understand how they are determined and why they change.

Need help with any of Securian's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.


  • Enhancements our underwriting requirements and preferred guidelines. At Symetra, we’re always looking for ways to enhance our underwriting and new business capabilities. We recently reviewed our underwriting requirements and preferred guidelines to see where we can make improvements, and we’re pleased to announce the following changes. EKG requirements have been removed for clients in these categories: Ages 41-50 with face amounts of $5 million to $10 million; Ages 51-69 with face amounts of $250,000 to $5 million; Rx checks will be automatically ordered for all cases; NT proBNP will be ordered on most blood profiles for cases over age 50.
  • Symetra Term: Now Available Through iGO® e-App. Symetra Term Life Insurance is now available through iPipeline’s iGO® e-App platform.
  • Life insurance for high-net-worth foreign nationals. Enhancements available June 8, 2020:
    • We will now allow premium financing for eligible clients. Eligible clients must have a net worth of at least $5 million and an annual income of at least $200,000.
    • We will accept juvenile cases for qualifying individuals. Eligible issue ages are 15 days old up to 17 years old.
    • We’ve made changes to our nexus requirements where a U.S. bank account or brokerage account is the only nexus/connection. We will now require a $25,000 minimum balance that’s at least one month old.
    • We will reimburse up to $300 for the cost of translating attending physician statements (must be translated into English by a non-related, certified, third-party translation agency) on cases submitted beginning June 8, 2020 if the policy is issued and placed in-force with Symetra.

Need help with any of Symetra's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.


  • Closing of New Sales for Agent-Sold Medicare Supplement Business. Our commitment to you and your customers has always been to provide quality protection, products, and services to individuals and families that they can count on. With this in mind, we’ve decided to streamline our focus and product portfolio by closing new sales of our agent sold Medicare Supplement Insurance business. Effective September 28, 2020, we will stop all new sales for this line of business. This includes all new sales for Agent Sold (MSH1) Medicare Supplement Insurance plans A, B, C, D, F, G, and N. September 25, 2020, will be the last day to submit applications on the iGO e‑App®. All applications must be signed on or before September 25, 2020, and received in-house before 4 p.m. ET no later than October 2, 2020. Existing inforce policies will not be impacted and will continue to be supported. Clients will still have the ability to renew their policy.

Need help with any of Transamerica's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.


  • Zurich Survivor IUL Approval in California. Zurich Survivor IUL has been approved in California.

Need help with any of Zurich's products?
Call us at 1-800-823-4852 or click here to email our Brokerage Sales Support team.

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