Prudential is committed to helping the life insurance needs of their customers.  The success of their growth strategy is based in part on having a broad and diverse product portfolio, which includes guaranteed universal life (GUL) products.

While they remain dedicated to the no-lapse guarantee market, the historically low interest rate environment and regulatory changes have continued to make the economics of GUL products challenging.  Additionally, despite recent price actions in 2016, they expect to continue to see strong GUL sales.

Therefore, to remain consistently with their strategy to diversify sales and to maintain the sustainability of their GUL products, they have decided to implement face amount limitations on PruLife UL Protector and PruLife SUL Protector beginning October 24, 2016.  This was a difficult decision, but it important that they take actions to manage their business to ensure that they can fully meet all of their obligations to their clients now and in the future.

WHAT IS CHANGING?

They will cap the amount of coverage they will offer consumers on UL Protector and SUL Protector.  The following face amount limits will become effective in illustration systems as of October 24:

  • UL Protector policies with combined face amounts on each insured greater than $5 million will not be available
  • SUL Protector policies with combined face amounts on insureds greater than $10 million will not be avaialble

Applications for amounts greater than these limits may be submitted on or before Friday, October 28, 2016, and must include presentations produced no later than Sunday, October 23, 2016.

FOR MORE INFORMATION:

Please refer to the FAQs document link below for additional information.  If you have any questions, please reach out to National Brokerage directly.

FAQs
Securities offered through The Leaders Group, Inc., Member FINRA/SIPC, 26 West Dry Creek Circle, Suite 800, Littleton, CO 80120 (303) 797-9080.

National Brokerage Associates, Inc. is not affiliated with The Leaders Group, Inc.

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