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Can they have different caps for inforce and new policies?
Would they? I understand Midland's IUL is at 14% cap, and I know that it can be reduced. Can they reduce a policy sold this year and leave new policies at 14%?
Would they?
Have they?
The cap is locked in for a year. At the anniversary they can lower it. And yes, they would and they have. Some carriers are worse than others. NA and LFG have excellent renewal histories in my experience.