You may not have heard that AG 38 (Actuarial Guideline 38) will require life insurance companies to hold more reserves for products that contain a 'secondary guarantee' or a death benefit guarantee. These changes were adopted September 12, 2012 and will go into effect for new sales dated on or after January 1, 2013. When they go into effect the UL rates will increase!
RATES WILL GO UP. It is just a matter of how much. If you have any clients who are 'on the fence' about converting their existing term, or buying new universal life policies - NOW IS THE TIME and the clock is ticking. In actual reality - there is probably about a 60 day window starting NOW.
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