February 9, 2015

-  Re-price on April 13, 2015
-  Deadline to receive new applications is April 10.
-  Transition details to follow

Current pricing:  Nationwide ranks in the top 5 on average on Level Pays, Short Pays, and Single Pays.

New Pricing:

Level Pays:  We will be affected the least on level pay scenarios.  Nationwide will still remain ranked 1-2 on average for most cells.
Short Pays:  On average we will see a 1-5% increase between ages 50-70.  Nationwide will rank Top 5 on average in this space.
Single Pays:  On average there will be an increase of 7-9% ages 55-70.  We will generally rank in the top 10 on average.

The deadline to have applications signed is April 10, 2015.  The application must be signed on or before that date to qualify for the current NLG UL rates.  They have placed a very strict deadline and have announced that no exceptions are going to be made.  There will be an official announcement sent out at the end of February with detailed transition rules.

February 9, 2015

The new Simplified Life is a quick and easy solution for clients seeking the protection, cash value accumulation potential, flexibility and tax advantages offered by a variable life insurance policy - with no invasive medical screening or tests.  Simplified Life's streamlined applicdation is desgined to simplify the process for your clients and help you place more business easily and promptly.  Most policies will be issued in 8 days or less!

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February 9, 2015

The new John Hancock Term is more competitive than ever — offering significant premium reductions in the top 3 risk classes, especially at face amounts of $250,000 and above. Click here for more information.

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February 9, 2015

Beginning February 9, 2015, the January 2015 version of PruLife Founders Plus UL with BenefitAccess Rider (without Enhanced Disability Benefit) is approved in California.

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February 9, 2015

Beginning February 23, 2015, PruLife® UL Protector will be re-priced to help significantly improve their overall competitiveness in the older age (55-85) marketplace and to better support the diverse needs of their consumers who fit in this market segment. 

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February 4, 2015

As you're aware, the interest rate environment has been difficult for years. In order to continue offering the desired coverage, we developed innovative Real Time PricingSM on our TransACE® products.

Unfortunately, the interest rate environment has continued to deteriorate and we've therefore made the difficult decision to exit the market.

As a result, we are withdrawing two of our TransACE products for new sales, effective immediately. The following products are no longer available for sale in any jurisdictions.

• TransACE

• TransACE Survivor®

In addition to withdrawing these products for new sales, we have also stopped processing applications in underwriting and new business. We will be sending letters to affected applicants (and any premium refunds), with copies to General Agencies. Policies that are already out for delivery are not impacted. However, there will be no extensions of delivery periods.

We have also stopped processing applications that involve 1035 exchanges unless the request for funds has been sent to the existing carrier. The normal Real Time Pricing guidelines will apply to these cases while we are acquiring the 1035 funds from the existing carrier. We will issue the policy and apply the 1035 funds when they are received.

We understand what this decision means for general agents, producers and customers. We believe in the value of UL products but the current TransACE design is no longer sustainable in this economic environment. We are reviewing our UL product offerings and will seek consumer input as we develop a new design.

January 30, 2015

The Principal Financial Group® is excited to announce that effective January 20, 2015, they will be reducing rates for many of their age and risk classes across their Term product line. Now you can offer the same strong features and valuable protection at even more competitive pricing. 

Competitive Snapshot

Fact Sheet

Principal Accelerated Underwriting

Transition Guidelines