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Variable Universal Life

Overview

Variable UL (VUL) allows you to design the type of policy that fits your clients’ needs. As your clients’ personal lives change due to marriage, birth or adoptionof a child, or job promotion/career change, so will their life insurance needs. Care should be taken to ensure these strategies and products are suitable for long-term life insurance needs.

The conversion rights on many term policies guarantee that for a specified period of time and/or up to a certain age, the policy can be converted to a permanent plan for the equivalent amount of coverage without having to provide additional evidence of insurability.Permanent life insurance coverage can be important to your client’s overall financial plan. When your clients convert their term insurance coverage, they can take advantage of several benefits:

  •  VUL is a policy that provides permanent insurance protection
  • VUL is also an investment vehicle with professionally managed investment options
  • VUL is a combination insurance and investment product full of flexibility

The opportunity to build cash value, for loans or withdrawals on the policy to help supplement retirement or other future cash needs.

  • One premium is paid for both functions
  • You and your client decide the amount of insurance needed
  • Availability of investment options to support virtually any invesment strategy including Lifestyle Funds and Actively Managed Funds
  • The amount of the premium and when it is paid are felxible

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