AG49-A: Changes for Indexed Universal Life Illustrations

This year the National Association of Insurance Commissioners (NAIC) was tasked with revisiting Actuarial Guideline 49 (AG49) regarding how to illustrate IUL products.  On June 25, 2020, the Life Actuarial Task Force approved a revised version of AG49 called “AG49-A”.  North American has been proactive in its product design approach with regard to compliance with AG49-A, so the changes to our products will be minimal.  The biggest impact you will notice is with regard to illustrated loan crediting, as changes to maximum illustrated rates are minimal.