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Prudential will implement a “seven times target premium” restriction on their Protector GUL/SUL product line in all states. Important dates to note are as follows:
- May 12th, 2013 – Illustrations need to be produced and signed by this date.
- May 28th, 2013 – Applications need to be signed and dated by this date. No trusts pending with applications to be completed after this time.
- May 31st, 2013 – Applications need to be received at Prudential home office.
Lincoln Financial (New York Business ONLY)
Lincoln Financial will be discontinuing new sales of a variety of products in New York State as of May 30th, 2013. These products include:
- Lincoln LifeGuarantee Plus UL (2009)
- Lincoln LifeGuarantee SUL (2009)
- Lincoln VULOne 2010
- Lincoln SVULOne 2007
Please note that non-replacement business must be signed, dated, and received at Lincoln by Wednesday, May 29th, 2013. For replacement business, Appendix 11: NY Definition of Replacement and Authorization to Disclose Policy Information must be signed by May 29th, 2013. All required application paperwork, including signed NY Appendix 10A and 10C, signed illustration, and signed application must be received in Home Office by Monday, July 15th, 2013.