I am certain most of you have already read this, but if not, here is there info for the 2017 CSO update.
"Like all carriers, the American-Amicable Group of Companies is transitioning its products to comply with the 2017 Commissioners Standard Ordinary (CSO) Tables by January 1, 2020. The 2017 CSO is an actuarial table used to compute the minimum non-forfeiture values of ordinary life insurance policies. As a result, there can be slight changes in product cash values but premiums, face amounts and commissions are unchanged. There will not be any impact on commission advances.
All policies with applications dated January 1, 2020 and later will be issued with the new 2017 CSO tables. Please keep in mind that our current software shows cash values that may be slightly different for policies issued in 2020. We are updating our product software and will send follow up communications once completed.
As part of the 2017 CSO update we are retiring our Easy UL product as of December 31, 2019 and replacing it with our new Express UL. Express UL is a more competitively priced simplified issue universal life product that allows for higher face amounts. When compared to Easy UL the Express UL generally “carries” longer, allows for up to $500,000 of coverage, only requires a phone interview for ages 65 and above and does not have the TAMRA/DEFRA issues that Easy UL had."
"Like all carriers, the American-Amicable Group of Companies is transitioning its products to comply with the 2017 Commissioners Standard Ordinary (CSO) Tables by January 1, 2020. The 2017 CSO is an actuarial table used to compute the minimum non-forfeiture values of ordinary life insurance policies. As a result, there can be slight changes in product cash values but premiums, face amounts and commissions are unchanged. There will not be any impact on commission advances.
All policies with applications dated January 1, 2020 and later will be issued with the new 2017 CSO tables. Please keep in mind that our current software shows cash values that may be slightly different for policies issued in 2020. We are updating our product software and will send follow up communications once completed.
As part of the 2017 CSO update we are retiring our Easy UL product as of December 31, 2019 and replacing it with our new Express UL. Express UL is a more competitively priced simplified issue universal life product that allows for higher face amounts. When compared to Easy UL the Express UL generally “carries” longer, allows for up to $500,000 of coverage, only requires a phone interview for ages 65 and above and does not have the TAMRA/DEFRA issues that Easy UL had."
