Symetra: AG49-A Transition Rules and Decreased Crediting Rates for GUL and CAUL Products


On December 14, 2020, Actuarial Guideline AG49A will go into effect, and any indexed universal life (IUL) illustrations prepared for Symetra IUL products must adhere to the new guideline.

To comply with the regulation, illustrations with additional charges that support multipliers, cap buy-ups and other enhancements cannot illustrate significantly better than products without those features. For participating loans, the maximum illustrated difference between loan interest rate charged and loan interest rate credited cannot exceed 0.5%.

While the benefits and features of Symetra’s Accumulator and Protector IUL products will not change, the way products are illustrated will change effective December 14, 2020.

Below are key dates and detailed information on our transition rules and deadline dates. Please note that this is a regulatory requirement, so Symetra will be unable to grant any exceptions.

Important dates

November 13, 2020: Symetra Life Illustrator and Winflex illustration systems will be updated to be compliant with AG49A requirements. You will be able to illustrate both the AG49A and pre-AG49A versions of Accumulator IUL and Protector IUL.

December 11, 2020: Formal applications that are received at Symetra’s home office in good order (fully completed, signed and dated) on or before this date will not be subject to the illustration guidelines set forth in AG49A.

February 12, 2021: The date in which pre-AG49A cases must be issued/paid. For 1035 exchange cases, the deadline will be extended if the only outstanding requirement is the receipt of 1035 funds.


Symetra UL-G and CAUL reduced credited rate: In-force policies

In December 2020, the credited rate on in-force Symetra UL-G and CAUL polices will change from 3.50% to 3.00%. Any premiums paid after this date will receive the new rate. The guaranteed minimum interest rate on these policies remains at 2%.