Protection IUL 24 Has Been Approved in South Dakota

Transition rules
March 22, 2024 deadline:

• If seeking an informal offer — the John Hancock home office must receive a Protection IUL 22 illustration signed by the insured and owner, and a tentative underwriting decision must be obtained by this date.
• If seeking a formal offer — the John Hancock home office must receive a Protection IUL 22 application signed by the insured and owner by this date. A signed illustration on the case is also required.
• For a term conversion — the John Hancock home office must receive a term conversion application signed by the insured and owner by this date.

Note: the John Hancock home office must receive a Protection IUL 22 application signed by the insured and owner and a signed illustration in addition to a fully executed New York Definition of Replacement (NB4082NY), Notification and Authorization form (NB4084NY) and Important Notice Regarding Replacement (NB4081NY) by this date.

May 03, 2024 deadline:

• By this date, John Hancock must have provided a final underwriting offer, received all administrative requirements to issue the policy and received confirmation to proceed with the 1035 Exchange (if applicable).