January 2014 cap and rate changes may affect your pending
and approved life insurance applications.


Effective January 7, 2014, some life insurance caps and
rates are changing and may affect your clients’ policies
that are in pending or approved status.

If you currently have a pending or approved, but not yet in-force policy, with one or more of the affected index allocation options or the fixed interest option, please contact your case manager. You will need to clarify the
policy effective date. Below are some general rules and options available.


Pending policies

If the application was submitted and received, on or prior
to January 6, 2014:

  • Issue with a January 6, 2014 effective date to receive old rates and caps.

    All delivery requirements must be received by March 6,
    2014.

  • Issue with current policy effective date.
    New caps and rates would apply.



Approved policies

If the policy was approved in underwriting prior to January 6, 2014:

  • Issue with a January 6, 2014 effective date to receive
    old rates and caps.

    All delivery requirements must be received by March 6, 2014.

  • Issue with current policy effective date.
    Client will need to sign new illustration and may need to sign other updated delivery requirements. New caps and rates would apply.

With both pending and approved policies, keep in mind:

  • Premium is required starting from the policy effective date.

  • Verbal or email notification to your case manager is
    required, by you or your FMO, to change an effective
    date of a pending or approved policy.

  • We may hold issuing your affected policies until
    clarification is received.


If you have an affected policy, contact your case manager
at

800.950.7372
(option 3), or your FMO.

Products are issued by:

Allianz Life Insurance Company of North America

5701 Golden Hills Drive, Minneapolis, MN 55416-1297


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Product and feature availability may vary by state.

ELIF-1623

(1/2014)