What’s New in the Life Insurance Industry?

After spending a week at an industry meeting with a select group of peers we are finally back. The meeting was a gathering of individuals from across the country to discuss concepts, ideas, and best practices for the life insurance industry. The main topic of discussion was equity indexed universal life.

Equity indexed universal life insurance is a relatively “new” form of life insurance. It is based on traditional universal life, but utilizes the performance of an index (e.g. S&P 500 Index) to determine the crediting rate of the policy. The advantage of equity indexed universal life is it allows the owner of the policy to participate in the market, while minimizing downside risk.

The general consensus is equity indexed life insurance policies are great for individuals interested in purchasing a life insurance policy for needed death benefit and accumulation. The product is a great alternative for individuals in the 30 to 60 age group. Because the policy is subject to the performance of an index the longer the outlook, the better.

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