Indexed Choice UL Reprice and Product Changes Effective Today

Written By Jon Gold
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Effective today Protective is repricing the Indexed Choice UL (ICUL) and ExtendCare Rider (ECR).  The following product changes were also included in this reprice:

  • Lowered the maximum secondary guarantee from age 121 to age 90

  • Added Option B Increasing Death Benefit Option

  • Extended surrender charges from 14 to 19 years

  • Added Guideline Premium Test

The new ICUL pricing results in lower premiums for level pay minimum cash solves at maturity as well as improved pricing at Preferred and Select Preferred rate classes.  Pricing has increased in some cells for single and short pay designs.

Transition Rules:

  • Fort ticket business: applications must be signed and received on or before Monday, August 30 to receive current rates.

  • For paper business: applications must be signed and received on or before Monday, August 16 to receive current rates.

  • Any application in underwriting on Monday, July 12 may choose between the old and new version of the product, but will retain the rates initially quotes unless otherwise requested up until the case has been approved.

Jon Gold
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