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Important revisions to Generation Planner II
Life Insurance Policy
Generation Planner II will change two ways! Please read and save this announcement.
The current financial market environment is requiring us to make two important changes to our Generation Planner II product. Here is a summary of the changes and effective dates.
1. Effective July 1, 2008, compensation for Generation Planner II will be revised across the board. The current commissions for year 1 excess and years 2-10 target and excess premium will be reduced by half. Policies issued fully paid (inforce) on or before June 30, 2008 will receive the original higher compensation rates. Policies issued and/or paid on or after July 1, 2008 will receive the new commission rates.
2. Effective July 1, 2008 the guaranteed premium rates will be increased. The actual rate increase will depend on age, underwriting class, and gender.
We urge you to do what you can to expedite your Generation Planner II business so policies can be issued before the bulk of these changes take effect. Policies must be issued fully paid (inforce) with all requirements received no later than Monday, June 30, 2008, 5 p.m. CT to receive the premium rates and commission rates currently in effect. Due to the advance notice, no exceptions will be granted. If we can be of assistance, please call Madison Brokerage at 888-539-3232.
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