These guys are getting tougher. I wonder if this will be the new trend in the industry.
"American General has adopted new chargeback rules for term and UL business, effective January 1, 2013. Effective January 1, 2013, Term and UL products (except for EGI SVETR) will have the following chargeback rules added/changed as follows:
For the first six months (1-6), 100% chargeback will occur for surrenders and lapses
For the second six months (7-12), 50% chargeback will occur for surrenders and lapses
The EGI SVETR chargeback includes 100% in the first year on full surrenders"
"American General has adopted new chargeback rules for term and UL business, effective January 1, 2013. Effective January 1, 2013, Term and UL products (except for EGI SVETR) will have the following chargeback rules added/changed as follows:
For the first six months (1-6), 100% chargeback will occur for surrenders and lapses
For the second six months (7-12), 50% chargeback will occur for surrenders and lapses
The EGI SVETR chargeback includes 100% in the first year on full surrenders"