Advisors Blog

GBS News: Weekly Product and Underwriting Updates - Week of October 17, 2022

Published on October 20, 2022


Are you having trouble viewing this email? View web version here.

Lincoln Financial 2022 Year End Deadlines

Important key dates and deadlines for processing 2022 year-end business.  


Nationwide No Lapse Guarantee® II price improvement effective November 7, 2022

Beginning November 7, 2022, Nationwide is implementing a price improvement across all scenarios for the current No-Lapse Guaranteed UL II product. These changes do not apply to No-Lapse Guarantee UL II in New York.

The price improvement is a price decrease for all no-lapse guarantee solve scenarios. The typical price decrease will range from 5% to 15%; however, the percent decrease varies by the characteristics of the case.


CareMatters® II Price Improvement and YourLife CareMatters® (CA and NY) maximum issue age increase effective November 7, 2022

Price improvements to Nationwide CareMatters II

Beginning November 7, 2022, Nationwide® is implementing a second price improvement of 2022 across all scenarios for the current CareMatters II product.

These changes do not apply to Nationwide YourLife CareMatters in New York and California.

The price improvement is an average pricing decrease of 5% for all scenarios. There will be a price decrease for all scenarios; however, the percent decrease varies by the characteristics of the case

Maximum issue age increase for YourLife CareMatters (CA and NY)

Beginning November 7, 2022, the maximum issue age for YourLife CareMatters will increase in California and New York. These changes do not apply to Nationwide CareMatters II.

In California, applications for individuals older than the previous maximum issue age must be submitted on paper. E-applications will not be accepted.


Care Solutions Interest Rate Changes, Effective October 15, 2022

Effective October 15, 2022, OneAmerica has made the following annuity rate update.


Principal 2022 Year End Deadlines

To help guarantee your life and individual disability business is processed and paid in 2022, Principal will need all final underwriting and administrative requirements for policy approval and issuance (including premium) by 12/9/22, and all delivery requirements for new business, adjustments, and reinstatements by 12/28/22. Click below to review additional important year-end details for individual life and disability insurance.


Principal Increased Enhanced Capacity and Relaxed Covid Guidelines Update

Principal has increased the maximum amount of coverage available through their Enhanced Capacity program (Internal Retention) for Standard and Preferred risks. The chart below shows the new limits, effective immediately.

Exclusions to the new enhanced capacity levels

Maximum $10 million coverage for cases involving:

  1. Substandard ratings
  2. Aviation
  3. Professional athletes and entertainers

Not eligible for the Enhanced Capacity program:

  1. Foreign Nationals
  2. Guaranteed Issue/Simplified Issue
  3. Principal® Business Solutions Enhanced Underwriting program

In addition to our enhanced capacity increase we are also relaxing some COVID-19 restrictions.

Effective immediately, we’re easing up on one prior restriction, while leaving others in place.

What’s changing:

  1. New guidelines for ages 66-80: Maximum Table 4 rating or maximum Flat Extra of $10/million. Table + Flat Extra is allowed if Flat Extra is for non-medical reason.

What isn’t changing:

  1. Guidelines for ages 65 or less: Maximum Table 6 rating for term products, maximum Table 10 for permanent products. Medical Flat Extras are allowed on top of table ratings.
  2. Guidelines for ages 80+: No offer.

Symetra 2022 Year End Deadlines

Important key dates and deadlines for processing 2022 year-end business.




We at GBS Insurance thank you again for your business. For more information or insurance quote requests, please contact your brokerage manager or give us a call at (800) 473-5966

For agent use only - not for use with the general public.

Corporate License No. 0D87913

21820 Burbank Blvd., Suite 301

Woodland Hills, CA 91367

Phone: (800) 473-5966

GBS Insurance and Financial Services, Inc. does not provide investment, tax, or legal advice. The information presented here is not specific to any individual’s personal circumstances. To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.

These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

© 2022 Arthur J. Gallagher & Co. 




GBS News: Weekly Product and Underwriting Updates - Week of November 7, 2022

MassMutual will reprice UL Guard and Survivorship UL Guard in November, with premium rates generally improving because of higher interest rates. These flexible-premium universal life products provide the protection of permanent life insurance and may be an important part of your clients' estate and legacy planning.


GBS News: Weekly Product and Underwriting Updates - Week of October 31 - November 4, 2022

American National has arrived at the purposeful decision to cease term life sales at this time. As of 12/1/2022, American National will no longer accept applications for Signature Term Life Insurance.


Get Started

Start Your GBS Online Account

At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas mnt in culpa qui officia deserunt n culpa qui officia des mollfuga.

Stay Connected