IRC Section 7702 Transition Guidelines

Effective August 20, 2021, all Cash Value Accumulation Test (CVAT) impacted FLX Index Universal Life policies were updated to reflect the new contribution limits. Policyholders who chose the CVAT will receive a letter with a revised policy schedule page reflecting the updated corridor factors. The FLX IUL policies with guideline premium test (GPT) will be updated by the end of September but will not receive a letter. There is no action required by the financial professional or the client. Please review the notice for more information on other impacted life products.