Legal & General ceasing new sales of Life Step Universal Life

From L&G:

Effective October 1, 2022, we will no longer be offering the Life Step UL product for new business, but it will remain available solely for term conversion. This will affect both Banner and William Penn business. The decision to close the Life Step UL product has no impact to any of our existing term product offerings.

Business Transition Rules

• Applications for the Life Step UL product must be signed and received by September 30, 2022. Any applications received after this date will not be accepted.

• The Life Step UL product will no longer be available on our platform and other vendor platforms for application submission after September 30, 2022.

• The Life Step UL product will still be available on our Partner Dashboard via Illustrations/Web Quoting and other 3rd party vendors for conversion quotes.

• There will be no impact to conversion applications for the Life Step UL product. These will process “as usual.”