On Friday, September 8th, Cincinnati Life released a revised version of their LifeHorizons Simplicity UL, a current assumption universal life product, now designated as LifeHorizons Simplicity UL 2017. Overall, premiums increased by significant amounts, driving the product away from the middle and situating it mostly at the back of the pack.
While premiums did increase almost across the board, it was not uniform; many full-pay scenarios experienced hefty hikes of 20% or greater. Prior to the update, LifeHorizons Simplicity UL saw some first-quartile premium players for smokers as well as limited-pays ages 60 and above, at least when these scenarios could be illustrated. A few brighter spots remain in the 2017 iteration for limited-pays at the oldest ages; however, these areas shine a lot less than before. Outside one of these occasional outliers, Simplicity UL 2017 simply fails to compete.
LifeHorizons Simplicity UL 2017 now includes rates for minors, which were cordoned off in a separate product before. Also updated was the nomenclature applied to their underwriting classes, including the Preferred Plus class (LifeTrends Preferred Best), which was previously absent.
When utilizing Cincinnati Life’s Age Last Birthday advantage, competitive positioning can be strengthened. Targets are very dominant in much of the market, being at or near the very top in almost every scenario.