February 1, 2024

2024

Effective February 1, 2024, the IUL maximum illustrated rates in WinFlex Web will change as noted below.
In addition, the participation rate on the S&P 500 Uncapped strategy will increase by 10%.

Income Advantage IUL:

S&P 500 100% Participation Rate with 10% Cap: Increasing from 6.28% to 6.30%
S&P 500 140% Participation Rate with 7% Cap: Increasing from 4.82% to 4.84%
S&P 500 Uncapped with 50% Participation Rate – Participation Rate Increasing to 60%: Max Rate Decreasing from 5.92% to 5.46%
BofA US Agility Index: Uncapped with 185% Participation Rate: Increasing from 5.29% to 5.51%

Life Protection Advantage IUL:

S&P 500 100% Participation Rate with 8.5% Cap: Increasing from 5.51% to 5.53%
S&P 500 140% Participation Rate with 6% Cap: Increasing from 4.18% to 4.19%
S&P 500 Uncapped 40% Participation Rate – Participation Rate Increasing to 50%: Max Rate Decreasing from 4.76% to 4.47%
BofA US Agility Index: Uncapped with 185% Participation Rate: Increasing from 4.71% to 4.83%

IUL Express:

S&P 500 100% Participation Rate with 9.25% Cap: Increasing from 5.90% to 5.92%
S&P 500 140% Participation Rate with 6.50% Cap: Increasing from 4.50% to 4.52%
S&P 500 Uncapped with 45% Participation Rate – Participation Rate Increasing to 55%: Max Rate Decreasing from 5.34% to 4.95%
BofA US Agility Index: Uncapped with 175% Participation Rate: Increasing from 5.00% to 5.16%

Why is the max illustrated rate changing?

The original Actuarial Guideline 49 (AG49), which was introduced in September of 2015, provided insurance companies with a standardized way to calculate the maximum illustrated rate. Part of this calculation takes into account how the index has performed over a look-back period. This period averages the annual return for all possible 25-year periods from the most recent 65 calendar years. After the close of each calendar year, we recalculate the maximum illustrated rate after incorporating the most recent year. The regulation was also updated in 2023 to look at the cost to the carrier to hedge each strategy.

To learn more about Income Advantage IUL, Life Protection Advantage IUL and IUL Express, visit discoveriul.com.

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