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2022 Compact Team Update

News

… 2022 Compact Team Update 2022 Compact Team Update Jan 20, 2022 …  Her primary responsibilities include keeping the Compact website updated, distributing meeting notices and materials, … Team, visit the Contact Us page of the Insurance Compact website, where you can find a brief bio and a contact email …

1/20/22

The Compact Office has a couple of team updates to share.

Amendments to the Single Premium Group Fixed Annuity Contract Uniform Standards for Employer Groups

News

… Employer Groups Mar 28, 2024 Starting Monday, April 1st, companies can now file with the Insurance Compact additional … is by searching the Record Adopted Standards page of our website. If you have any questions regarding the Uniform … on the Creating a Compact Filing page of the Compact’s website. Share Article …

Starting Monday, April 1st, companies can now file with the Insurance Compact additional types of group annuities besides those associated with pension risk transfers because of recent amendments made to the Single Premium Group Fixed Annuity Contract Uniform Standards for Employer Groups

Group Whole Life Standards for Employer Groups

News

… Uniform Standards for employer groups with the Insurance Compact? Starting on Monday, April 1st, the Insurance … on the Record Adopted Standards page of the Compact website. These Standards track the form and benefit … on the Creating a Compact Filing page of the Compact’s website.   Share Article …

Are you ready to spring to it and file with the new Group Whole Life Uniform Standards for employer groups with the Insurance Compact? Starting on Monday, April 1st, the Insurance Compact can accept group whole life filings for employer/employee groups.
 

News

Page

… News articles are Compact announcements and Weekly Tips, which are published …

How to Change Interest Rate for Life Insurance Nonforfeiture Values

News

… in nonforfeiture interest rates and is applicable for the upcoming change. FINs are available on the Compact website under Industry Resources > Filing Information … can be found on the Industry Resources page of the Compact website.   A term product with no cash values was previously …

The interest rate for minimum nonforfeiture values for life insurance products is changing effective 1/1/2025. For long-duration life insurance products, the rate is changing from 3.75% to 4.50%.

The Insurance Compact Releases 2023 Annual Report

News

… The Insurance Compact Releases 2023 Annual Report The Insurance Compact … in 2023. The Insurance Compact also launched its redesigned website. Users now enjoy several new features that enhance their ability to navigate the website, such as dedicated Committee pages, easier access to …

PHOENIX, Ariz.

File Early for Nonforfeiture Interest Rate Changes

News

… Nonforfeiture Interest Rate Changes Jul 28, 2021 Is your company working to implement the nonforfeiture interest rate … on the Insurer Resources page of the Insurance Compact website. If you are unsure if your product or filing … is needed, please review the guidance available on our website. These documents can be found on the Insurer …

Is your company working to implement the nonforfeiture interest rate changes that will go into effect 1/1/2022? To meet this deadline, the Insurance Compact Office recommends submitting the necessary changes early to ensure adequate time to review the filing and resolve any compliance issues.

First Time Filers Checklist

News

… First Time Filers Checklist Mar 10, 2021 The Insurance Compact Office has a new tool available on the Insurer Resources page of the website – First Time Filer Checklist. This new tool is … to identify informational needs and improvements to the website. This checklist was a suggestion made during that …

The Insurance Compact Office has a new tool available on the Insurer Resources page of the website – First Time Filer Checklist. This new tool is geared to new company filers though even experienced filers may appreciate the refresh on available resources.

Best Practices: General Description Tab Webinar on Thursday 5/12

News

… 2022 Please join us to learn a little more about drafting a Compact filing, and specifically the information to include … can be found on the Events page of Insurance Compact website. If you are interested in other webinar … please visit the Events page of the Insurance Compact website or contact the Insurance Compact Office. Share …

Please join us to learn a little more about drafting a Compact filing, and specifically the information to include on the General Information tab.

The Compact is gearing up for Index Linked Variable Annuity Filings

News

… The Compact is gearing up for Index Linked Variable Annuity … to opt out of the standards due and published on Compact website •    May 31 st - Earliest date for contract filing … to the Record Adopted Standards page of the Compact’s website . Note: the MVA standard will be renamed to …

Is your company intently awaiting the ability to file a Registered Index-Linked Annuity under the newly adopted Uniform Standards? Here are some key dates to incorporate into your plan.

Creating and Amending Uniform Standards Webinar on Wednesday 5/18

News

… / 2:00 pm CT / 1:00 pm MT / 12:00 pm PT, join the Insurance Compact’s Assistant Director of Administrative Operations, … can be found on the Events page of Insurance Compact website. If you are interested in other webinar … please visit the Events page of the Insurance Compact website or contact the Insurance Compact Office. Share …

Please join us to learn a little more about the Uniform Standards development process.