Updated October 3, 2025, at 2:36 PM
Major change is coming in the world of indexed universal life (IUL). In May 2023, the next round of revisions to Actuarial Guideline XLIX (AG 49) came to life, which went into effect in 2015. This was the first in a series of regulations directed toward taming IUL illustrations, though this year’s revisions will likely be the last for the time being.
While these regulations may seem to put IUL directly in the line of fire, it’s important to note that none of these changes affect the real-world performance of these products; the changes only affect what carriers can show on a hypothetical illustration. The illustration is under scrutiny, not the product itself.