Learn from the sales success of others to better position VUL and identify value statement that best meets the client’s needs.
Tax- free investment and income planning is best explained to advisors and clients in easy to understand terms. Using the cost of tax (COT) vs. the cost of insurance (COI) comparison example can be an effective way to explain the product benefits.
Using the internal rate of return (IRR) report in an illustration can be an effective way to connect with the advisor and explain the value. In addition, the added benefit of having downside protection, indexed sub-account options can help in managing risk over time.
Mid- 30s, healthy, high-income clients are perfect candidate s for an accumulation VUL sale due to the good amount of time they have to accumulate before retirement. These individuals can be referred to as HENRYs or High Earners Not Retired Yet.
Some insurance carriers have niches in certain industries for underwriting and it is important to know what carriers may be best given a client’s line of work. Additionally, communication throughout the underwriting process is critical to success.
For the most guaranteed death benefit per premium dollar , especially in a 1035 or shortpay scenario, Lincoln’s VUL ONE product is a leading solution. Compared to GUL, this lifetime guaranteed product is often cheaper and offers cash value accumulation potential.
Survivorship VUL can be a great product for covering an estate tax lability and provide flexibility for a trust to use potential cash value accumulation for various needs in later years. Especially if both individuals are healthy, it makes it easier for underwriting.