Our Life Division offers you a vast array of products and solutions for your clients, backed up by the personal attention and support of our USA team. With over 30 carriers, we provide you with access to the leading products to meet the specific needs of your clients – Term, Whole Life, Universal Life, Indexed Universal Life, Variable Universal Life and Final Expense Coverage.
- Term Life Insurance
The simplest form of life insurance, Term provides a death protection benefit for a stated time period, or term. The most common term insurance policies provide that death benefit in exchange for a premium that is guaranteed to be level for the policy period. Term insurance can be purchased in large amounts for relatively low premiums, which makes it a great choice for short-term goals like providing a family protection benefit during the child-raising years.
Return of Premium (ROP) Term provides an additional benefit, returning to you all of the premiums you’ve paid if you’re still living at the end of the policy period.
- Whole Life Insurance
For over 150 years, Whole Life insurance has been providing families and businesses with protection benefits that are guaranteed for the life of the insured, with premiums that also are guaranteed to remain level for life. In addition to the death protection benefit, Whole Life policies build cash accumulation that can be accessed by the insured.
- Final Expense Insurance
A specialty Whole Life product, Final Expense Insurance is available with fairly low death benefit amounts (generally $25,000 or less), and often with guaranteed issue or simplified underwriting. Final Expense policies are designed to cover basic expenses at death, such as medical bills, credit card debt, and funeral costs.
- Universal Life Insurance (UL)
Over the past 30 years, Universal Life insurance has become one of the most popular forms of level premium life insurance. Universal Life offers families lifetime death benefit protection along with flexibility. Like whole life insurance (and unlike most term insurance), universal life provides cash accumulation. And universal life also provides the policy owner the flexibility to modify premium payments, if needed, to adjust to changing circumstances. The premiums required to keep the policy in force may vary based on variations in the interest crediting rate.
- Guaranteed Universal Life Insurance (GUL)
Guaranteed Universal Life products allow the policy owner to select the age to which they want to have the death benefit guaranteed, whether it is age 90, 95, 100, 105, 115 or 121….
The length of premium payments can be structured according to the owner’s preferences. Interest rate volatility does not affect premium payments, which are calculated to be level until death. Unlike other permanent life insurance products, however, GUL policies may not have any cash value. Premiums may be lower than whole life insurance or other permanent insurance products, but they generally will be higher than term insurance.
- Variable Universal Life Insurance (VUL)
In a Variable Universal Life (VUL) policy, the policy cash value can be invested in a wide variety of separate accounts, similar to mutual funds, and the choice of which of the available separate accounts to use is entirely up to the contract owner. VUL offers the policy owner the opportunity for higher earnings on the policy cash value, but also exposes them to the risk of a downturn in those separate accounts.
- Indexed Universal Life Insurance (IUL)
The most recent version of universal life is Indexed Universal Life (IUL). This product combines all of the same flexibilities of universal life with the ability to earn interest based on the movement of one or more stock market indices. While the policy earnings are tied to the performance of those indices, the policy values are not invested directly in the market.
Indexed universal life differs from variable universal life in that most indexed universal life policies protect against downside performance of the stock market indices by guaranteeing a minimum annual rate of return which is credited to the policy’s cash value. In return for the guarantee of little or no market downside risk, an indexed universal life policy also caps the maximum annual rate of return.