Regulatory Update: AG 49, Illustrations Using MultipliersScott Karstens
If you haven’t heard, a vote was taken by the Life Actuarial Task Force (LATF), an advisory task force at the National Association of Insurance Commissioners (NAIC). On 10/17/19, LATF directed a subgroup of NAIC members to develop changes to Actuarial Guideline XLIX (AG 49) so that Indexed Universal Life insurance (IUL) products with multiplier-related benefits illustrate no better than those without multiplier-related benefits. We expect that regulators will develop these changes over the next few months.
Please stay alert at product announcements, changes, and illustration regulations being implemented as a result.
If you haven’t hear a reaction to the vote from PacLife*:
*we do not represent PacLife IUL, this is for informational purposes only.