Regulation 7702 - General
The effective date of Congress' 7702 changes.
What is January 1st, 2021?
This is the date NLG has launched 7702 compliant product chagnes.
When is May 1st, 2021?
This is the product name for NLG's new SIUL product.
What is SurvivorLife?
These are the states that NLG's new SIUL is available in.
What are all the states, except for New York?
This is the Indexing Strategy NLG is discontinuing effective May 1st.
What is the Hang Seng Indexing Strategy?
States that are impacted by Regulation 7702 changes.
What are ALL STATES?
These are NLG's products that are impacted by Regulation 7702 changes.
What are Flexlife, Peaklife, BasicSecure and LivingLife by Design?
This is the date that NLG's new SIUL product launches.
When is May 1st, 2021?
This is the starting line code in Mainframe for an LSW SIUL product.
What is the LINN5?
This is the new way BST would like you to send them requests.
What is a special BST Service NOW ticket?
Regulation 7702 did this to interest rates used to calculate insurance contract values.
What is.... lowered them?
This is the deadline for submitting rewrite requests for policies issued in 2021, but prior to April 30th, who would like to take advantage of these new guidelines.
When is July 1st, 2021?
This is how many insured lives can be covered with an SIUL product.
How many is two?
This is the screen in Mainframe for the second insured.
What is the SUCI screen?
This is the answer you give to someone who asks if the new SIUL product is available in eAPp.
What is 'No'?
These two aspects of insurance product measurement have changed due to Regulation 7702.
What are MEC limits and Guideline (GPT/CVAT) limits?
An application that is dated 5/3, but the agent wants to use old guideline rates, this code is used.
When do you put a '20' as the SPECIAL OFFER YEAR field?
These are specific riders present on SIUL products.
What are the 'Estate Preservation Rider', 'Policy Split Option Rider', and the 'Survivor Protection Rider'?
These are how many ABRs are available on the new SIUL product at issue.
How many is zero ABRs?
This is how you get an illustration ran with OLD product features after 5/1?
What is the KANZ message in NBA titled '7702 Illustration Requests'?
The two impacts to illustrations that agents can now run for their clients.
What are increased funding limits and lower face amount solves?
This is how I can tell if the illustration I have is for the right product/7702 guidelines.
What is the footer (2019 Series/2020 Series R 7702-21) at the bottom of the Illustration used for?
These are some of the purposes of designing an SIUL for clients.
How can you do estate and wealth transfer planning?
How can you get insurance coverage for an otherwise uninsurable person?
This is how many illustrations you need to issue the SIUL product.
How many is 2 illustrations (one for each individual insured)?
This is the situation where we would require a Indexing Strategy selection.
What do you do with a case that is submitted prior to April 30th, with Hang Seng selected as the strategy, but are electing to use the new 7702 guidelines?