7702 Updates Coming to Allianz Life Pro+ Advantage Effective 10/18/21

At Allianz, we took the time to review our product and find a balance that meets the needs of both consumers and financial professionals while adhering to the new regulations.  Advantage FIUL will be updated to meet the revised guidelines.
 
Please Note the following regarding inforce business issued January 1, 2021, and later:

• Your client’s inforce policies are compliant and no changes are required, however, these updates will potentially allow for additional flexibility to premium limits or lowering the face amount. Because no changes are required to an inforce policy, no communications will be sent to policyholders.
• Lowering the face amount on any policy is not allowed in the first 12 months of the policy being inforce. Please note a face amount reduction before month 18 could result in a commission charge back.

Additional information will be available on October 18th.