Upcoming premium rate change for UL Protector V and SUL Protector III
New premium rates will be effective June 8, 2020 for Principal Universal Life Protector V and Principal Survivorship Universal Life Protector III. The challenging economic environment makes a pricing adjustment necessary as follows:
- On average, UL Protector V single and 10 pays will increase 13-14%, and level pays will increase 4%
- On average, SUL Protector III rates will increase 11-12% for all premium scenarios
To get original rates, an application must be received in Principal’s home office by June 15, 2020, and all requirements, including premium, received within the normal processing timeframe.
The guidelines linked in the PDF below provide key dates for the transition from original rates to new rates.