On Monday October 18, 2021 the revised VUL Protector and SVUL Protector from Prudential will be introduced in New York.
The following rules apply to any request for New Business, Term Conversion, or OPAI (Option To Purchase Additional Insurance) Conversion:
TRANSITION RULES:
- October 17, 2021 (Last Day for Old Rates): Last day that an application can be signed and dated with New Rates.
- October 18, 2021 (Ready to Sell Date – NY VUL Protector Issue Basis 306; NY SVUL Protector Issue Basis 305): First day that an application can be signed and dated with New Rates.
- October 22, 2021 (Home Office Receipt Date): Last day that an application can be received in the Home Office with Old Rates.
- January 14, 2022 (Placement Date): Last day that a pending case can be placed with Old Rates. All delivery requirements must be received in good order by end of business day (4 PM EST).
January 14, 2022 (1035 Exchanges): Cases involving 1035 exchange must be initiated/started by January 14, 2022 to retain Old Rates. If the 1035 initiation/start deadline is met, the policy will not be subject to an additional placement deadline.
