Term Conversion Update

Effective January 1, 2021, Nassau has repriced its Remembrance Life product used to support all term conversions.

Key Considerations

  • Our existing Remembrance Life product rates will no longer be available effective January 1, 2021.
    • If a completed term conversion application for Remembrance Life was quoted between 11/1/2020 and 12/31/2020 and the signed application is received at Nassau on or before 1/31/2021, the client will have the option to select the quoted rates or request a quote for the new rates.
  • As part of the reprice, commissions have been reduced and an updated commission schedule will be distributed accordingly.
  • Effective immediately, any quotes for a term conversion will automatically be based on the new Remembrance Life product rates.

If you have any questions, please call us at 1-800-541-0171.

DISCLOSURES

For Producer Use Only. Not for use in solicitation or advertising to the Public.

Nassau Remembrance Life (ICC18FEWL and 18FEWL) is issued by Nassau Life and Annuity Company (Hartford, CT). In California, Nassau Life and Annuity Company does business as “Nassau Life and Annuity Insurance Company.” Nassau Life and Annuity Company is not authorized to conduct business in MA, ME, and NY, but that is subject to change. Nassau Remembrance Life (ICC19FEWL and 19FEWL) is also issued by Nassau Life Insurance Company (East Greenbush, NY). In some states, Phoenix Remembrance Life (ICC12FEWL and 12FEWL) is issued by PHL Variable Insurance Company (Hartford, CT). PHL Variable Insurance Company is not authorized to conduct business in Maine and New York. Nassau Life and Annuity Company, Nassau Life Insurance Company and PHL Variable Insurance Company are subsidiaries of Nassau Financial Group. 

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Insurance Products: NOT FDIC or NCUAA Insured | NO Bank or Credit Union Guarantee.

©Nassau 2020

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Anthony LaRosaTerm Conversion Update