National Life Adds Four Crediting Choices for $1 Million-Plus SummitLife Coverage
The new options draw on Bloomberg, Nasdaq and S&P 500 indexes. An index-interest floor does not prevent policy charges from reducing cash value.
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The new options draw on Bloomberg, Nasdaq and S&P 500 indexes. An index-interest floor does not prevent policy charges from reducing cash value.
The additions include a 2% minimum interest-credit option, but policy charges can still reduce cash value. State and contract availability matter for existing owners.
A distributor says the policy, listed with a $1 million minimum coverage amount, will gain two index-crediting choices. Eligible pending applicants have until before October 26 to request the new version.
Banner’s September 22 change covers seven term lengths. For digital submissions, a drop ticket alone does not meet the October 22 deadline; the formal application must reach the carrier.