Prudential's Momentum IUL Launches August 19th
FROM PRUDENTIAL:
Prudential Momentum IULSM is launching on August 19
Beginning August 19, you can help clients build momentum in meeting their financial goals. Our new accumulation-focused indexed universal life product is an attractive option for clients looking for a tax-advantaged accumulation policy without market risk. Momentum IUL also offers features to help clients adapt to life’s changes while enabling them to protect and grow cash values.
The sale of PruLife Index Advantage UL® to be discontinued in most states
With the launch of the new Momentum IUL product occurring on August 19, 2024, we will be discontinuing the sale of Index Advantage UL (IAUL) in most states. IAUL will remain available for sale in the following states where Momentum IUL has not yet been approved: California, Maryland, Montana, Oregon, and Virginia.
Transition Rules
August 18, 2024: PruLife Index Advantage UL® will be retired. All Indexed Advantage UL applications must be signed and dated on or before August 18, 2024.
August 23, 2024: Last day that an Indexed Advantage IUL application can be received in the Home Office.
November 1, 2024: Last day that a pending Indexed Advantage UL case can be placed. All delivery requirements must be received in good order by end of business day.
November 1, 2024: Indexed Advantage UL cases involving 1035 exchange must be initiated/ started by November 1, 2024. If the 1035 initiation/start deadline is met, the policy will not be subject to an additional placement deadline.
Please see the full tradition rules for additional details.
Join Prudential for their introductory webinar on Monday, August 19 at 12:00 pm Pacific to learn more!