On Thursday, June 1st, Mutual of Omaha released new rates for their Guaranteed Universal Life (GUL) product.
On Thursday, June 1, 2017 Mutual of Omaha revised rates on their Guaranteed Universal Life (GUL) product for the second time within the last 8 months.
Overall, premiums experienced a flat increase of about 6% across the board when guaranteeing death benefits to lifetime, age 105, and age 100. For age 90 guarantees, premiums increased by about 7%. GUL does offer a limited amount of competitiveness when considering short-pays; however, because the product only offers Guideline Premium Test (GPT), it struggles to fully guarantee for most illustrations.
Mutual of Omaha continues to offer its Guaranteed Refund Option, allowing insureds to be refunded their paid premiums in years 20-25 of the policy and 50% of paid premiums in policy year 15 (capped at 50% of the death benefit).
Targets increased in proportion to premiums. Targets are now very competitive for ages 60 and above and for Best Tobacco and Table D risk classes.
NOTE: GUL’s positioning may be strengthened when utilizing its Age Last Birthday advantage.
CLICK HERE to view the GUL Snapshots PDF
CLICK HERE to view the GUL New vs. Old PDF
CLICK HERE to view the GUL ALB Snapshots PDF
