The price of some life insurance products is going up. Many carriers will be re-pricing their products which contain No Lapse Guarantee Riders. This is due to an industry-wide change to reserving requirements for secondary guarantees mandated by Actuarial Guidline 38. This will affect certain Universal Life (UL) and Indexed Universal Life (IUL) products. Some changes will go into effect October 1, 2012 while other carriers will implement new pricing structures as of January 1, 2013.
This is a good opportunity to purchase life insurance at the currently lower rates. This coupled with traditionally good life insurance underwriting nearing year-end makes it a compelling time to apply for new life insurance as soon as possible.