The illustration software serves several product lines and some updates do not impact all lines. The list below shows the version history of the software and indicates when an update did or did not impact a particular product. After you download and install an update, your version of the illustration software will include all current and previous updates.
To determine your current software version and update number, open your illustration software, click on Help and then About Illustration Edge.
Version 2.22.0748, Update 237, released November 4, 2009
- Annuities rate change effective November 4, 2009
- FGA and FRA decreases 0.30%
- SRA decreases between 0.30% and 0.35%
- PGA decreases between 0.15% and 0.35%
- FPDA decreases 0.35%
- IGA cap rates decrease 0.50%
- Payout Annuity rates have changed (Rate code 110409)
- No impact on IDI
Version 2.22.0748, Update 236, released October 15, 2009
- Annuities rate change effective October 15, 2009.
- FGA 6 increases 0.15%
- SRA 6 and PGA 7 decreases 0.05%.
- PGA 9 decreases 0.10%.
- IGA cap rates decrease 0.25%
- Payout Annuity rates have changed (Rate code 101509).
- No impact on IDI.
Version 2.22.0748, Update 235, released October 5, 2009
- Annuities illustrate MA as a sex neutral state.
- Payout rate code extended to six digits to increase publishing flexibility. (Rates are still those published 9/1/09)
- Language in TIA/SIA illustrations mirrors the business practice that is used for rate holds on deferred annuities.
- Annuities rate change effective October 5, 2009.
- SRA 3 and FRA 7 decreases 0.05%.
- SRA 5 decreases 0.20%.
- SRA 6 decreases 0.30%.
- IGA cap rates decrease 0.10%
- Payout Annuity rates remain unchanged.
- Guaranteed Minimum Rate of fixed annuities decreased to 1.15%
- No impact on IDI.
Update 234, released September 16, 2009
- Annuities rate change effective September 17, 2009.
- Payout Annuity rates remain unchanged.
- IGA Cap Rates decrease 0.25%
- All other Fixed Annuity rates decrease between 0.05% and 0.15%
- No impact on IDI.
Update 233, released August 31, 2009
- Annuities rate change effective September 1, 2009.
- Payout annuity rates have changed.
- AFR updated.
- Cap Rates decreased 0.35%.
- PGA 9 rates are unchanged.
- All other fixed-annuity rates decreased between 0.05% and 0.20%.
- Does not impact IDI.
Update 232, released July 31, 2009
- Annuities rate change effective August 1, 2009.
- Updated applicable Federal rate.
- Did not impact IDI.
Update 231, released July 22, 2009
- Annuities rate change effective July 23, 2009.
- Immediate Annuity rates have changed.
- PGA-9 rates increased 0.30%.
- FGA and FRA rates remain unchanged.
- IGA Cap Rates have decreased 0.15%.
- All other deferred annuity rates have decreased between 0.05% and 0.30%.
- Did not impact IDI.
Update 230, released July 7, 2009
- Use only with Version 2.22.0724.
- Annuities rate change effective July 1, 2009.
- Increased Model Index Minimum Guaranteed Rate.
- Did not impact IDI.
Update 229, released June 30, 2009
- Annuities rate change effective July 1, 2009.
- Updated immediate annuity and settlement option rates.
- Did not impact IDI.
Update 228, released June 19, 2009
- Annuities rate change effective June 19, 2009.
- Updated immediate annuity and settlement option rates.
- FGA-5 fixed crediting rates have decreased.
- Did not impact IDI.
Update 227, released May 26, 2009
- Annuities rate change effective May 27, 2009.
- Decreased fixed crediting rates.
- Decreased index rate caps.
- Updated immediate-annuity and settlement-option rates.
- Did not impact IDI.
Update 226, released May 14, 2009
- IDI Occ class increased for several white and blue-collar occupations.
- Discounts turned off for The Business Protector in Ohio.
- Contact the IDI sales team if you would like to illustrate an Ohio Discount.
- Did not impact Annuities.
Update 225, released April 30, 2009
- Annuities rate change effective May 1, 2009.
- Immediate annuity and settlement option rates updated.
- Fixed crediting rates and index rate caps are unchanged.
- Did not impact IDI.
Update 224, released April 2, 2009
- For The Protector illustrations, cardiologists, radiologists and gastroenterologists now reflect a 4P (4A Doctor) occupation class regardless of surgical responsibilities.
- Annuities rate change effective April 3, 2009.
- Immediate annuity and settlement option rates increased.
- Fixed crediting rates and index rate caps increased.
Update 223, released March 23, 2009
- Made available the premium rate reduction of approximately 12% announced on March 16, 2009 to Delaware and New Mexico. The new rates were available for the 5A occupation class on The Protector+ noncancelable policies, with effective dates on or after March 16, 2009.
- Did not impact Annuities.
Update 222, released March 16, 2009
- Was included in version 2.22.0724.
Version 2.22.0724, released March 16, 2009
- Transition Rules (for states in which the 5A rate reduction is available)
- New Business Policies and FPO Increases
- Effective dates for FPO increases are determined by the terms of the contract. New rates for FPO increases will automatically be applied to increases effective March 16, 2009 or later. Increase options effective March 15, 2009 or earlier, will automatically receive the old rates.
- For new business policies that have not yet been delivered and for which the new rates are desired, the policyowners must elect an effective date of March 16, 2009, or later, at delivery. If a policyowner elects an effective date of March 15, 2009, or earlier, the old rates will apply.
- Policies delivered between February 16, 2009, and March 15, 2009
- New business policies delivered to the insured between February 16, 2009, and March 15, 2009 may receive the new rates upon request. Producers whose customers would like the new rates may request them from their Customer Management Specialist. The last date to initiate the request to receive the lower rates on recently delivered policies is April 15, 2009.
- However, by requesting the new rates, please keep in mind that the result will be:
- A new policy with an effective date of March 16, 2009.
- The requirement to sign a new policy acceptance answering all required medical and financial questions.
- The requirement to return the old policy so that it can be canceled.
- An adjustment in commission to account for the reduction in premium.
- A refund of premium, where applicable, to the policy payor.
- How to illustrate 5A rates
- How to run illustrations showing the new 5A rates
- Illustration Software version 2.22.0724 and Software Update 222 (or later) are both required to illustrate the new 5A rates.
- Illustrating old 5A rates
- Once you install the new software, you will be unable to illustrate the old rates. Should you need an illustration for the old rates, please contact us.
Update 221, released February 27, 2009
- Updated Annuities rates.
- Did not impact IDI.
Update 220, released February 18, 2009
- Updated the loss ratio on all California illustrations to our 2008 ratio of 37.0% and made the following occupations temporarily ineligible for IDI coverage:
- commodity brokers
- hedge fund managers
- venture capitalists
- real estate developers
- Updated Annuities rates.
Update 219, released February 2, 2009
- Was included in version 2.22.0719.
Update 218, released December 30, 2008
- Updated Annuities rates.
- Did not impact IDI.
Update 217, released December 13, 2008
- Updated Annuities rates.
- Did not impact IDI.
