North American Company: Cap, Participation, Spread and Illustrated Rates for Indexed Universal Life Policies

See an update from North American Company below.

Contact Relationship Manager Bob Hertz, Bob.Hertz@LeClairGroup.com, with questions.

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Please be advised that we are making changes to the cap, participation, illustrated, and spread rates (if applicable) for the following currently marketed products: Builder IUL® Gen. 8 and Rapid Builder IUL® Gen. 4. For the Builder IUL® Gen. 8 and Rapid Builder

IUL® Gen. 4 products to receive the current cap, participation and spread rates, ALL monies must be placed into the index accounts with an effective date ON OR BEFORE April 13, 2018. All monies with an effective date ON OR AFTER April 16, 2018 will receive the new rates as outlined in the table below. The new maximum illustrated rates are also shown below.

Please consider using the new rates for all future illustrations as applications you submit today may not be ready for issue until after the new rates have been implemented.

For monies to be placed into the index accounts with an effective date prior to April 16, 2018, and therefore receive the current rates, the following criteria must be met:

For applications in New Business

  • Policy Anniversary Date of 4/13/18 or earlier
  •  Money received and applied by 4/11/18
  • All requirements received in good order by 4/11/18
  • Policy placed in force by 4/11/18

For applications in Policy Change

  •  Policy Anniversary Date of 4/13/18 or earlier
  • Money received and applied by 4/9/18
  •  All requirements received in good order by 4/9/18
  • Policy placed in force by 4/9/18

Note that not all rates are changing at this time. The rates that are changing are highlighted below.

llustration Software
The following Illustration Software platforms will be updated starting on:

  • Web Illustrations powered by iPipeline: April 14, 2018
  • Winflex Web: April 16, 2018
  • NACIS: April 16, 2018

In addition to these cap changes, we are also updating our maximum illustrated rates on all products in accordance with illustration regulations. The rates reflect a new year in the rolling 65 year historical averages. The new Maximum Illustrated Rates will go into effect on April 16, 2018 for all Indexed Universal Life products and will be reflected in the software on April 16th.