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IUL illustration rules update from "Lexology" website:
On July 27, 2016, the Life Insurance and Annuities (A) Committee adopted revisions to Actuarial Guideline 49 (AG 49) to address situations where indexed universal life (IUL) insurance policies make available multiple index account options with different account charges (the dual account issue)...
...multiple index account options in the same IUL policy have been treated differently from multiple IUL policies each with an index option and some believe IUL policies with dual or multiple index account options had been disadvantaged under AG 49 as originally adopted. Newly revised AG 49 allows IUL illustrations to use a different maximum credited rate of interest for each index account option that takes into account charges and the annual index interest rate cap for that particular option...
...The NAIC’s Executive Plenary is expected to approve newly Revised AG 49 at its August meeting.
NAIC Life Insurance and Annuities (A) Committee Adopts Revisions to Actuarial Guideline 49 - Lexology
On July 27, 2016, the Life Insurance and Annuities (A) Committee adopted revisions to Actuarial Guideline 49 (AG 49) to address situations where indexed universal life (IUL) insurance policies make available multiple index account options with different account charges (the dual account issue)...
...multiple index account options in the same IUL policy have been treated differently from multiple IUL policies each with an index option and some believe IUL policies with dual or multiple index account options had been disadvantaged under AG 49 as originally adopted. Newly revised AG 49 allows IUL illustrations to use a different maximum credited rate of interest for each index account option that takes into account charges and the annual index interest rate cap for that particular option...
...The NAIC’s Executive Plenary is expected to approve newly Revised AG 49 at its August meeting.
NAIC Life Insurance and Annuities (A) Committee Adopts Revisions to Actuarial Guideline 49 - Lexology
