Index universal life insurance sales suspended
 

Effective July 1, 2023, Global Atlantic suspended sales of our index universal life products issued by Accordia Life Insurance Company, including: 

  • Lifetime Builder ELITE index universal life (IUL) 

  • Global Accumulator IUL

  • Lifetime Foundation ELITE IUL 

We recognize the value of these products in addressing the needs of your clients. This decision does not impact our commitment to our existing life insurance policyholders, and we will continue to devote the necessary resources to serving them.

With our industry-leading annuity and preneed businesses, we are well positioned to continue to serve our clients in providing compelling product solutions. As we continue to support our in force life products and complete the transformation to our broader new business platform, we are well positioned to evaluate new product opportunities, including new hybrid and life insurance products, where we can deliver value to you and your clients.

Thank you very much for your ongoing partnership.

New Business Transition Rules

  • • Effective July 1, 2023, we are no longer accepting new business applications.
  • All new business applications received in good order by June 30, 2023, will be processed by August 31, 2023:
    • Applications that remain in a pending status on August 31, 2023, will be closed out as incomplete. 


In force servicing  

  • In force policy details remain accessible to you and our policyholders via our FP and customer portals to assist with digital in force case management/status.  
  • All data feeds and reports associated with in force products will continue to be sent without interruption.

  • The Global Atlantic contact center, available at (877) 462-8992, remains in place to service financial professionals and in force policy holders, without interruption.

  • Commissions on in force and issued policies will be paid according to your contract terms, without interruption.

  • “New business” add-ons related to riders on all policies will continue to be accommodated as part of in force management. Exchange of Insured will be permissible on COLI/BOLI (however, adding an insured will no longer be an option).