Understanding universal life insurance and how it is evolving for the benefit of your clients and your practice
Some lifecos are focused on enhancing their WL and term products
Jim Ruta, president, AdvisorCraft Media and Consulting, tackles the pros and cons of universal life policies (UL). He discusses a four-part system for determining when UL would be the right choice for clients, and when term life would offer greater benefit.
Single issue policies will be available to clients aged 30-85
Commission changes and simplified products could appeal to clients
Manulife UL, which replaces InnoVision lineup, features a new commission structure for advisors
Adjustable premiums tied to long-term interest rates
Olympia Financial looking for joint venture partners
There is a concern relating to certain product designs that could be leaving some taxable income on the table
New and enhanced term products also added to life insurance portfolio