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Brighthouse Premier Accumulator Universal Life New York Update
Effective May 22, 2017, Brighthouse Premier Accumulator Universal Life (PAUL) will be issued in New York by Brighthouse Life Insurance Company of NY. PAUL issued by Brighthouse Life Insurance Company of NY features: no surrender charges and a 4.00% current interest crediting rate.
Transition Rules
  • Applications for PAUL issued by Brighthouse Life Insurance Company of NY will be accepted beginning on May 22, 2017.
  • In good order applications for PAUL issued by Metropolitan Life Insurance Company must be received in the Home Office on or before May 22, 2017.
    • These cases must be issued and paid by the earlier of June 30, 2017 or actual legal separation. Cases that do not meet the issue and payment deadline will be closed.
  • Metropolitan Life Insurance Company policy owners will not be eligible to exchange to PAUL issued by Brighthouse Life Insurance Company of NY.
Term Conversion Update
  • Brighthouse Financial term policies issued in New York may be converted to PAUL issued by Brighthouse Life Insurance Company of NY. Conversions to Whole Life 2008 issued by Metropolitan Life Insurance Company will not be accepted after May 22, 2017.
  • Please note that term conversion product availability, as described here, will also apply when other contractual provisions, including group conversions, are exercised that require issuance of a new policy.
Illustrations and Forms Availability
  • Illustrations for PAUL issued by Brighthouse Life Insurance Company of NY will be available on May 22, 2017.
    • Illustrations for PAUL issued by Metropolitan Life Insurance Company can be run in the Home Office for pending cases that have satisfied the in good order application deadline.
  • Forms for PAUL issued by Brighthouse Life Insurance Company of NY are available at eforms.metlife.com/BrighthouseFinancial.

For more information, please contact your KAFL Broker Manager.

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