Business Underwriters Associates, LLC

American National - Updated Rates for Whole Life Effective 12/1

11-04-2021

Updated Rates Effective 12/1 for Signature Whole Life, Signature Whole Life MT, & Limited Pay Whole Life 
 

Due to the change in non-forfeiture rates, Signature Whole Life premium rates will be increasing. Despite this increase, competitive positioning should remain intact.

Signature Whole Life
To receive current rates:

  • Electronic applications must be signed and submitted on or before 11/30/21 and issued/paid by 12/31/21.
     
  • Paper applications must be signed on or before 11/30/21 and issued/paid by 12/31/21.

If application is dated 12/1/21 or later the client will receive the new rates.

 

Signature Whole Life Montana
To receive current rates:

  • Electronic applications must be signed and submitted on or before 11/30/21 and issued/paid by 12/31/21.
     
  • Paper applications must be signed on or before 11/30/21 and issued/paid by 12/31/21.

After 11/30/21 clients in Montana will not have Whole Life available until 1/1/22 due to the switch to sex-distinct products.

If the application isn’t paid by 12/31/21 the client will need to sign a new application on or after 1/1/22 and will receive the new rates. (WL will not be available to sell in Montana during December.)

 

Limited Pay Whole Life (for Pensions & Montana)
To receive current rates:

  • Electronic applications must be signed and submitted on or before 11/30/21 and issued/paid by 12/31/21.
     
  • Paper applications must be signed on or before 11/30/21 and issued/paid by 12/31/21.

After 11/30/21 there will be no LPWL available until 1/1/22.

If the application isn’t paid by 12/31/21 the client will need to sign a new application on or after 1/1/22 and will receive the new rates. (LPWL will not be available to sell during December.)

 

Product Name Last App Date Issue Paid Deadline Replacement Product

Repriced Product

Launch Date
Signature Whole Life 11/30/2021 12/31/2021 2021 SWL 12/1/2021
Signature Whole Life MT 11/30/2021 12/31/2021 2021 SWL 1/1/2022
Limited Pay Whole Life 11/30/2021 12/31/2021 2021 LPWL 1/1/2022
  • Policies cannot be back dated.
     
  • For policies with 1035 Exchange funds: Policy must be issued, and the first premium paid by 12/31/2021, then additional 1035 funds can be applied after 12/31/2021.
     
  • Franchise billing is allowed, only if the first premium is paid on or before 12/31/2021.

 

Please give us a call at 1-800-792-6795 if you have any questions.