As we communicated to you last week, effective today, universal life limited‑pay and level cost of insurance (COI) rates have increased due to the continued low interest rate environment and the long‑term guarantees associated with these products. Annually increasing cost of insurance rates are unchanged.

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To read the transition rules, click here.

Once again, here are some high-level details outlining the impact of this change.

Level COI

• The overall average increase is 5%
• Range of increase is 0-10%

Limited pay COI

• The overall average increase is:
  • 10 pay: 20%
  • 15 pay: 12%
  • 20 pay: 15%

• Range of increase is 0-40%
  • Younger ages are most affected by the rate increases

What do these changes mean?
Our limited-pay rates remain consistent with other major carriers. In some cases, we'll remain number one and in the majority of other cases we'll be ranked number two. Our level COI rates remain top three in more than 30% of ages.

We remain committed to providing you with innovative and competitive products that meet the needs of your clients.

To see the updated universal life essentials catalogue, click below.