Not only have Principal term rate pricing improved, but the term product still includes convertibility features and can be used with Accelerated Underwriting for face amounts at $1 million and under.
What you need to know:
- New prices going into effect April 25
- There are NO price increases with this reprice
- The targeted focus is for ages 35-55 and $1 million or more face amounts
- Applies to 10, 15, 20 and 30 year level term options
- In addition to converting to any permanent products: SUL, GUL, Accum II, Flex II, ULPE, IUL and VUL
- Can convert any time during level term period up to age 70
- The owner can convert all or part of the death benefit
- Two term policies can be converted into a SUL policy (new policy face amount cannot be larger than 2x smaller term policy’s face amount)
- Full commission is paid on conversions
For the full details, click here.