November 19, 2020
Coming soon! New rates and enhancements on IULs
Beginning November 21, 2020, we are making updates and enhancements to our portfolio of IUL products, including QoL Max Accumulator+ II and QoL Value+ Protector II, to comply with AG 49-A guidelines set forth by the NAIC.
Non-med underwriting limits increasing to $1M
Also effective November 21, our non-medical underwriting will be expanded to include eligible cases with face amounts up to and including $1 million. The previous face amount limit was $499,999.
Nebraska non-resident tax withholding to go into effect for 2021 commissions
To comply with provisions in Nebraska state law, we will begin withholding state income taxes on non-resident commissions paid for sales in Nebraska, effective for 2021 tax-year commissions. Withholding begins in late December 2020, but we want to give you time to prepare if impacted.
New in Forms Depot: Search for service request forms by inforce policy number
Using the policy number to locate a Life Customer Service form will help ensure the fastest processing of an inforce service request. Get details and see screen shots at the bulletin linked below.
2020 year-end processing dates and holiday hours
As we near the end of the year, we are prepared to work closely with you on your pending business and help you have a successful close to 2020. See our bulletin for year-end dates and holiday hours.
Important information for insureds in Oregon
To support our customers in Oregon who may be affected by ongoing wildfires, temporary suspensions are in effect on lapses, terminations, cancellations, and other time-sensitive provisions.
Reminder to adhere to state and local restrictions
As we continue to work during these unprecedented times, we want to remind you of various state and local restrictions that may apply to solicitation and distribution of retirement and insurance solutions.
Please be aware of your state and local jurisdiction requirements regarding in-person solicitations and adhere to these requirements when conducting business associated with distributing AIG products. Additionally, keep in mind the options available for conducting business electronically.
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