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October Product Update: Strategic Portfolio Adjustments and Market Realignments

The October product landscape reflects strategic repricing, product launches, and index cap realignments across major national carriers. From Prudential adjusting Nasdaq caps and extending state availability to John Hancock refreshing its term suite, carriers continue adapting product mechanics to shifting market conditions. This monthly update synthesizes key carrier developments and regulatory updates to assist advisors in navigating evolving product choices for complex case architecture.

Regulatory Updates

  • NAIC Bulletin: Ernst & Young (EY) published a September 2026 NAIC Bulletin on September 24, 2026, outlining updated technical accounting guidance for insurance operations.

Carrier Updates

  • Q4 2026 Index Account Changes: Prudential is increasing caps on Nasdaq index accounts across most of its portfolio, while caps for FlexGuard Life products will decrease, with changes taking effect for index segments beginning October 15, 2026.
  • California State Availability: Effective September 28, 2026, the 2025 version of PruLife® SVUL Protector is available for sale in California.
  • North Carolina Product Transition: Effective September 28, 2026, Prudential Protection IUL is available for sale in North Carolina. Coinciding with the availability of Protection IUL, PruLife Founders Plus Indexed UL will no longer be available for sale in North Carolina effective October 2, 2026.
  • Crediting Rate Adjustments: Effective October 1, 2026, John Hancock will lower crediting rates on Protection UL 22 and Protection SUL 22 due to ongoing economic conditions.
  • Term Portfolio Refresh & Protection IUL 26: Effective September 21, 2026, John Hancock introduced a refreshed term portfolio and enhanced Protection IUL 26 with a new Extended Guarantees Rider in approved states.
  • PL Promise Term Reprice: Effective September 21, 2026, Pacific Life released refreshed pricing on PL Promise Term, featuring updated rates designed to deliver more consistent and competitive pricing across term periods, risk classes, genders, and issue ages.
  • VUL Subaccount Fund Mergers: Effective October 9, 2026, fund mergers will take place for subaccounts investing in current and previously sold Lincoln variable universal life insurance policies.
  • Placement Deadline: Pending applications for Lincoln WealthPreserve® 2 IUL must be placed in force by December 31, 2026.
  • OPTerm Rate Update: Banner Life released updated rates for its OPTerm product effective September 22, 2026.
  • CareMatters II Product Enhancements: Effective September 14, 2026, Nationwide enhanced its CareMatters II product. New features include a Waiver of Premium while LTC payments are being made (applicable across premium payment durations and retroactively added to policies issued on or after January 1, 2026), a pricing discount when combining a lump sum premium or 1035 exchange with a recurring premium option, and three new options: a 20-pay premium duration, an 8-year payout duration, and 3% compound LTC inflation protection for 20 years. The Step-Up ROP option (except in NY), Pay to age 65 payment option, and 3% simple inflation protection option are discontinued. Enhancements are currently approved in most states, with CA, DE, DC, FL, IN, NJ, and NY pending approval.
  • New Whole Life Product Options: On Saturday, September 19, 2026, the new WL Guard 10 Pay and WL 95 products became available for sale. With these launches, MassMutual discontinued Whole Life 12 Pay for newly issued policies.