Genworth Financial announced that they will increase rates on their Colony Term UL 10 and Colony Term UL 20 rates. They are also temporarily suspending sales of their Colony Term UL 30 product.

 

If you recall Genworth just recently pulled their Colony Term UL 15 product and with this new announcement we are sure more companies will follow with changing their rates as well.

 

Key Dates to remember on the rate increase:

• May 20th, 2012 Last Day for Genworth to receive applications for old rates!
• June 4th, 2012 New rates effective on all Life Quick Requests received on or after this date, regardless of the ticket submission date.

 

 Key Dates to remember on the Colony Term UL 30:

• Applications must be received in the home office by June 4th, 2012.