AIG: Premium Cap Changes

AIG

 

  1. Premium cap changes have been implemented on June 27th, 2020 for Secure Lifetime GUL 3 and Platinum Choice VUL 2
  2. COVID-19 Temporary grace period extension – if a policy owner was unable to make a premium payment on time between March 11 and July 1, 2020 they will have an additional 90 days beyond the standard lapse date in order to become current on premium payments. All premiums due must be received before the end of the extended grace period in order for coverage to continue. This 90-day grace period extension option will not be offered after July 1, 2020.
    • Some States have different requirements regarding accommodations available after July 1, 2020)
  • Arkansas
  • Delaware
  • District of Columbia
  • Maine
  • New York
  • Ohio
  • Oregon
  • West Virginia