Lafayette Life will soon introduce our newly enhanced 2022 Series of Whole Life products and riders, available for sale on Oct. 23, 2021. These products include the revision to section 7702 that was signed into law by President Trump on Dec. 28, 2020, as a part of the Consolidated Appropriations Act, 2021.
We’re excited to share the news with a sneak peek webinar hosted in mid-September, presented by Brandon Hamilton, Director, Sales Desk, Product Marketing and Training. We will also be hosting in-depth Product Webinars starting in late September and October. Look for an invitation soon!
In the meantime, we want to share the transition rules for the new set of products.
Applications: On or After 10/23/2021
If the application is dated on or after Oct. 23, 2021, we will issue the new 2022 series of whole life and term products.
Applications: On or Before 10/22/2021
If the application is dated on or before Oct. 22, 2021, we will issue the 2020 series of products, as long as the policy is issued by Dec. 31, 2021.
You may elect to change to the new 2022 series of products without a new application as long as the illustration is signed upon delivery. If you have an existing application in new business and plan to elect the new product, please advise the New Business department.