Speakers: Lawrence Rybka

Year: 2019

Wondering what the new and revised life products in 2020 will look like? This session looks at the underlying pressure points that shape the products that will be put on the shelf for 2020. Right now companies are re-filing products based on several macro changes, including: GAAP reserve changes under 944, guidelines for long-dated guarantees, Principles Based Reserving, 2020 CSO, Best Interests Regulation, and proposed changes to NAIC AG 49. Also, expect to see developments with fee-based products based on a new IRS PLR allowing fees on life products to be withdrawn tax free. 3 Session Takeaways: 1. Understand the “why” on changes coming to products to better explain them correctly to clients. 2. Look for opportunities to place products that will perform better long term before they are replaced. 3. Better understand what kind of products will be sustainable for companies and most likely deliver on long term projections for clients.