Business Underwriters Associates, LLC

AIG: Secure Lifetime GUL 3 Rates Increase Nationwide

05-03-2021

Effective May 15, 2021, premiums on AIG's Secure Lifetime GUL 3 are increasing to reflect the current market conditions.  AIG is committed to providing attractive guaranteed life insurance products to your clients and are continuously evaluating their product portfolio to help clients look forward to their financial future with confidence.

State Availability: All states, including NY

Rate Changes

Guaranteed premiums will be increasing by an average of 17% for most cells, with ages 45 to 65 seeing some of the largest increases.

Transition Rules

Paper Applications

  • New GUL rates are effective May 15, 2021.
  • Applications received on or after May 15, 2021 will receive the new rates.
  • Starting 4:00 PM CDT on May 14, 2021 only the new rates will be available in Winflex.
  • To receive the old rates applications must be received on or before May 14, 2021.
  • Reissue requests will not be honored.

AG Quick Ticket

  • New GUL rates are effective May 15, 2021.
  • Applications submitted via Quick Ticket by May 14, 2021 will receive the old rates if AIG receives the application in good order by June 1, 2021.
  • Applications submitted via Quick Ticket by May 14, 2021 will receive the new rates if AIG receives the application in good order after June 1, 2021.
  • Applications submitted to AIG via Quick Ticket on or after May 15, 2021 will automatically receive the new rates.
  • Reissue Requests will not be honored.

 

Valuable Features for GUL Clients

Secure Lifetime GUL 3 continues to offer attractive features to help clients achieve financial security.

  • Guaranteed Return of Premium: Built-in option to receive 50% end of year 20 or 100% end of year 25
  • Partial withdrawal capability feature
  • Optional Accelerated Access Solution® for chronic illness coverage up to $3M of client’s base policy
  • Optional Lifestyle Income Solution® that provides a guaranteed income by accelerating death benefi

Please give us a call at 1.800.792.6795 if you need assistance with illustrations or application submission.