Business Underwriters Associates, LLC

Corebridge: Improved Term Rates - March 11, 2024

03-09-2024

Effective March 11, 2024, Select-a-Term (SAT) is repriced in all states, excluding New York.

  • Pricing: Face amounts $500,000+ have a Top 2 ranking in 70% of the annual premium cases
  • 18 term durations: More duration options than any term competitor. Allows clients the flexibility to buy only what they need.
  • Low AGL monthly model factor: Remains 8.45% and continues to put SAT among the most competitively priced term products in the market
  • Rated case advantage: Select-a-Term continues to offer some of the very lowest premiums for rated cases leveraging Special Class

New rates improve competitive rankings with roughly 20% of rates decreased, 23% increased, and the remaining have no change.

Transition Rules

AG Quick Ticket & Paper applications

  • New product rates will be available effective March 9, 2024
  • Applications received in the Home Office March 9, 2024, and later will automatically be given the new product rates
  • Inforce reissue requests to new plan will NOT be honored
  • New applications submitted to replace existing inforce coverage with the news rates will not be honored within 90 days of the existing coverage going inforce

iGo full eApp

  • New product rates will be available effective March 9, 2024
  • Applications received in the Home Office March 9, 2024, and later will automatically be given the new product rates
  • Cases locked prior to March 9, 2024that are submitted adter the new rates are effective will retain the original quoted rates
  • Inforce reissue requests to new plan will NOT be honored
  • New applications submitted to replace existing inforce coverage with the news rates will not be honored within 90 days of the existing coverage going inforce

SimpliNow Choice platform 

Available to iPipeline and LifePipe users via product selection, Select-a-Term (New Submission Platform)

  • New product rates will be available March 9, 2024
  • Applications received in the Home Office March 9, 2024 and later will automatically be given the new premium rates
  • Inforce reissue requests to new rates will NOT be honored
  • New applications submitted to replace existing inforce coverage with the new rates will not be honored within 90 days of the existing coverage going inforce

Please give our life sales team a call at 800.792.6795 if you have any questions.