The TBA Times
In this post, we’re bringing you another great strategy to help your clients get more for their money.

Clients want more flexibility in their coverage options, but they also want value and a guaranteed death benefit. How can you provide all of these at the same time? Protective has a great solution - their Indexed Choice UL. Here are a few highlights.

Thinking outside the GUL Box: Indexed Choice UL

Sure, GUL has its place. However, it’s not a one-size-fits-all product. Let’s consider life down the road. What if needs change or your client is unable to make a premium payment at some point?

Life happens, this we know. How about a solution that offers strong guarantees, but also:

1.) provides more flexibility
2.) offers the potential to accumulate cash value based on the performance of the S&P 500
3.) offers death benefit protection that has the potential to last longer than traditional GUL based on the same premium?

Protective Life’s Indexed Choice UL is a competitive alternative to GUL that offers more flexibility for when life happens.

On your next GUL case, try taking the most competitive GUL premium and plug it into Protective’s Indexed Choice UL. You’ll notice that the guarantees, although slightly shorter, will go to at least life expectancy (if not longer), but cash values in 20-35 years are significantly higher. In the attached case study on a Male age 40 Preferred NT, you’ll see that the same premium buys a guaranteed death benefit to age 90 (only 10 years less than our competitor’s GUL), but our Indexed Choice UL has 4X the cash value at age 75!
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Leverage Term for Protection Today and Tomorrow

Help your clients get the best of both worlds with protection for short- and long-term needs. A Term policy can provide your clients with affordable life insurance coverage today, which they may qualify for based on their current health.
But fast forward 10 or 20 years, and your clients’ health and insurance needs might have changed. That’s where our Term insurance conversion provisions come in.
Term insurance from Principal® locks in a client’s insurability, so when it comes time to convert, they can do so at the same underwriting class and without additional underwriting requirements.
How To Overcome The Price Objections For LTCi

One way to address concerns over the cost of LTCi is to highlight solutions which provide multiple benefits.

Today many carriers offer products providing life insurance protection along with living benefits, that include access to tax favored cash values and access to the death benefit, while living, to pay for long term care expenses.

For example a 45 year old preferred non-smoking male can buy a $500,00 Universal Life policy to protect family income, pay down a mortgage and provide for college expenses in the event of an untimely death for just $299 a month. Properly structured, this policy can also build cash value throughout the life of the contract (endow at age 120) based on current rates and charges.

And with the addition of a Long Term Care rider for just $23.75 per month, this client can access up to $333 per day for qualifying Long Term Care expenses. In this case, the Long Term Care rider accelerates the death benefit at 2% per month if the insured can’t perform 2 of the 6 activities of daily living – that equates to a maximum Long Term Care benefit of $10,000 per month for 50 months.

Next time a client or prospect says, “Long Term Care is too expensive,” be sure to remember the example above. Long Term Care can be very affordable. And it’s not a “use it or lose it” proposition when attached to a life product that provides death benefit and access to tax favored cash value.

Using Life Insurance For College Funding

Life Insurance can be designed to meet your clients’ changing needs using features such as flexible death benefits and flexible premiums. In addition, Life Insurance can also be designed to help establish and grow a college education fund.

Policy Valuation:
How Much Are You Worth?

The common legal definition for fair market value of an asset is the price on which a seller and a buyer can agree, neither being under any constraint and both being aware of all the circumstances.  Simple enough. So why is there so much confusion with regard to valuation of an inforce life insurance policy?
A Fast And Affordable Short-Term DI Solution

Spring is here! And many of your clients are starting to get out and enjoy their favorite outdoor hobbies – riding motorcycles, mountain climbing, rafting, boating, etc. But what happens when fun in the sun results in an accident? One that temporarily prevents your client from returning to work while they recover – a few months of lost income can be a financial catastrophe for most.
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