LGA (Banner) Raising UL rates; “Choice” UL going away.

Statement from Banner:
“We need to be a financially healthy company for the long term to fulfill a lifetime of promises. Uncertainty around interest rates, AG38, taxes and the “fiscal cliff” are provoking fast-paced changes in pricing. Accordingly, we feel it necessary to raise premiums on our Banner Life Choice and Life Step UL plans effective with applications received August 16 and later. Never a seller, Banner Life Change UL will be pulled from the market as of August 16. Parallel changes at William Penn will be effective with applications received September 4 and later. Please read the attached communication for more details.

If you have any questions, please contact your marketing coordinator at 800-638-.8428. To reach Amy, Charlie, Katie, or Martie press 1 followed by 3 then 1.”

Click here for further explanation and justifications for the action:  LGA (Banner) UL rate increase, Choice gone