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What is AG 38?

Revisions to Actuarial Guideline 38 (AG38) from The National Association of Insurance Commissioners (NAIC) will become effective for all policies issued after December 31, 2012. These revisions further clarify the reserve levels carriers must hold when selling products with long-duration guarantees. As a result, many carriers have announced they are either discontinuing certain current guaranteed UL products or will introduce new products with price increases.


American General:  American General GUL products will be re-priced with new, higher premium rates effective January 1, 2013.

Aviva:  Aviva announces NLG product changes to comply with new regulatory guidelines.

Genworth: Important product changes announced. Please review the key dates and transition rules.

ING: Suspending No-Lapse UL Sales.

Legal & General America: Prices will rise after January 1st 2013.

Lincoln Benefit Life: As a result of this change current pricing will not be available after Dec. 31, 2012.

Minnesota Life:  February 2013, Minnesota Life will be adjusting rates for the Death Benefit Guarantee Agreement on newly issued Eclipse IUL and Accumulator VUL policies.

North American:  Important product changes announced as a result of AG 38.

Protective: Effective November 1, Protective Life will implement changes to first year premium limits as well as informal application guidelines.

Prudential: We have already incorporated the AG38 changes into our UL Protector and SUL Protector prices effective in approved states on 10/15/2012

Transamerica:  Transamerica is not abandoning guaranteed products. In fact, Transamerica filed for approval of their new guaranteed UL and Survivor UL products available after January 1st 2013.

United of Omaha:  Click here to view bulletin from the desk of Mark Rush.