American General Re-Prices GULs

American General Re-Prices GULs

Dates & Transition Rules: New pricing on all AG Secure Lifetime GUL, AG Secure Survivor GUL and AG Choice Index GUL policies will be effective January 1, 2013. All cases with a policy effective date of January 1, 2013 and later will have the new (2013) rates. All cases with a policy effective date of December 28, 2012 and before will have the old (2012) rates. Policy effective date is defined as “date of issue” as stated on the policy schedule page. The following dates and rules apply in order to receive 2012 rates.


  • December 21, 2012 – Underwriting approval must be complete and all administrative requirements needed to conditionally issue an AG 38 impacted UL product must be received in the home office to have policies issued with the 2012 rates. These requirements include the proper quote or illustration needed to generate the policy.
  • December 28, 2012 – December 28, 2012 is the last day policies can be issued to receive a 2012 effective date. Final delivery requirements to place an AG 38 impacted UL policy in force must be received in the home office within 60 days from the effective date of the policy to have the policy placed in force with the 2012 rates. Final delivery requirements include, but are not limited to: delivery receipts, signed quotes or illustrations, signed amendments, premium required to place the policy inforce and 1035 exchanges. If any of the final requirements are not received within 60 days from the effective date of the policy, the case will be closed and the policy must be applied for again with 2013 rates.
  • January 1, 2013 – Affected policies issued on or after this date will receive 2013 rates.

Backdating: For policies issued in 2013, no backdating is allowed on AG Secure Lifetime GUL, AG Secure Survivor GUL and AG Choice Index policies to an effective date prior to January 1, 2013.



  • A policy and all delivery requirements are received in house on November 12, 2012, completes underwriting and is issued on December 28, 2012. Final delivery requirements are received on January 24, 2013. This policy will receive 2012 rates.
  • A policy is received in house on December 11, 2012 and completes underwriting on January 15, 2013. This policy will be issued with 2013 rates and requires a new illustration to match.
  • A policy is received in house on December 15, 2012. This policy goes through underwriting and is issued on March 1, 2013.  The earliest the policy can be backdated to is January 1, 2013 with the 2013 rates.

AG Secure Survivor GUL: AG Secure Survivor GUL in the state of California will launch with the December 10, 2012 illustration release and will be available for issue dates January 1, 2013 and after.

Single premium payments: Single premium payments of $250,000 or more on AG Secure Survivor GUL will be allowed on policies issued and effective January 1, 2013 and after.

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