Reminder: AG49-A Update Deadline
Due to revisions of AG49-A, you have until April 30, 2023, to submit cases based on the current illustration regulation. To meet the deadline for new cases or cases currently in progress, the following must be received by April 30, 2023:
- Signed formal application
- Signed illustration
As a result of the AG49-A update, maximum illustrated rates for certain Index Accounts will be changing on May 1, 2023. Policies that did not meet the April 30, 2023 application and illustration deadline will need to use an illustration based on the new regulation. Those policies that do meet the signed application and signed illustration deadline must be placed in force with at least a minimum initial premium by June 30, 2023.
As a reminder, the update to AG49-A does not impact the policy’s actual performance or product features.