Corrected term life insurance rates – software update available Dec. 18
An updated version of our illustration software Concourse (2.5), is now available.
What’s new
The update will correct term life insurance rates, allowing you to run correct illustrations. In an effort to fix term life insurance rates as quickly as possible, we reinstated policy fees and reactivated the multi-policy benefit check-box. All intended term life insurance rate decreases were maintained.
Get the update
To get the update, you’ll need to have the Nov. 23 version of Concourse (2.5) installed first.
· If you haven’t installed the Nov. 23 version you must download and install the November update first.
· If this has already been done, you can download the December update now.
Note – The version number (2.5) will not change with the December update.
How to verify if you have the latest version
Run a term 10 life insurance illustration for a male non-smoker, age 30, standard risk, with no multi-policy benefit, applying for a face amount of $2,000,000.
· If you have the latest Dec. 18 version, the annual premium will be $1,020.
· If you still have the Nov. 23 version, the annual premium will be $1,040.
· If you have version 2.4, the annual premium will be $1,080. If this happens, download and install the Nov. 23 version before downloading and installing the Dec. 18 update.
For users with limited Internet access, updated software CDs will be available in January, 2016. For complete details about the software updates, this information will be available next week on RepNet.