Oppenheimer Funds Merging on TotalAccumulator VUL
The Oppenheimer Equity Income Fund/VA is merging into the Oppenheimer Main Street Fund®/VA on or about a conversion date of April 28, 2017. These fund changes impact the TotalAccumulator variable life product. Read the full announcement here.
Franklin High Income VIP Fund Closing on TotalAccumulator VUL
The Franklin High Income VIP Fund will be closed to new investors and to additional investments from existing shareholders effective at the close of market on or about April 21, 2017. This fund will be liquidated on or after April 28, 2017. The Franklin High Income VIP Fund is available in the Total Accumulator variable life product. Read the full announcement here.
Fund Closure and Changes for LBL Variable Life Products
The PIMCO VIT Money Market Portfolio is being liquidated September 23, 2016. For contract owners invested in the PIMCO VIT Money Market Portfolio, any value remaining in this subaccount on the Liquidation Date will be transferred automatically to the Fidelity VIP Government Money Market Portfolio subaccount. The PIMCO VIT Money Market Portfolio is available in the following products: Consultant SL, Consultant Accumulator and Consultant Protector. Read the full announcement here.
LBL Variable Life Product Update
The variable life products of Lincoln Benefit Life Company (LBL) are being affected by fund name changes on May 1, 2016. Customers are being notified of this change in the upcoming product prospectus mailing. Read more on the fund name changes and product prospectus mailings here.
Lincoln Benefit Life Partners with Alliance-One Services, Inc. for Servicing Life Business
Lincoln Benefit Life Company (LBL) has transferred its life service to Alliance-One Services, Inc., a subsidiary of Computer Sciences Corporation (CSC) and a licensed third-party administrator. Alliance-One will handle under LBL’s direction all administrative services for life products (except GenBuilder policies), such as billing, responding to customer service and claim requests, and accepting payments for most LBL life policies. Read the full announcement here.
Standard & Poor’s Affirms Lincoln Benefit Life’s Ratings
On August 5, 2015, Standard & Poor’s affirmed Lincoln Benefit Life’s BBB+ (Good) financial strength rating and its BBB+ long-term counterparty credit rating. Standard & Poor’s also gave LBL a stable outlook. Read the full report here.
A.M. Best Affirms its Lincoln Benefit Life Ratings, July 22, 2015
On July 22, 2015, A.M. Best Company affirms Lincoln Benefit Life’s A- (Excellent) rating for financial strength and its a- rating for long-term issuer credit, both with a stable outlook. Read the full report here.
Lincoln Benefit Life Partners with Third-Party Administrator, se2
Lincoln Benefit Life Company (LBL) has transferred service of its annuity and GenBuilder business to se2, a leading third-party administrator in the financial services industry. se2 now handles all administrative services for annuity contracts and GenBuilder policies for LBL customers, brokers and financial representatives. Read the full announcement here.
Lincoln Benefit Life announces sub-account changes to the following variable life products:
- Consultant SL
- Consultant Accumulater
- Consultant Protector.
These changes have a scheduled conversion date of December 5, 2014. Read the full announcement here.