The client will maintain their desired death benefit amount, and if they convert or exchange into an FIUL policy, they will also have permanent coverage and the potential to accumulate cash value for the future.
Because Lauren is on a limited budget, she can't afford the amount of permanent coverage she'd like right now through an FIUL policy, but through a term policy with an option to convert or exchange, she can get adequate coverage for the present while setting herself up for the option of permanent coverage in the future.
This seems to be the common refrain from the majority of articles and commentary directed toward fixed index universal life insurance (FIUL), usually made in response to claims that sales people too often promise the moon whenever FIUL is discussed as an option for their client's financial portfolio.
True, FIUL has been over-hyped at times and its reputation has suffered as a result of hyperbole from those who lack a complete understanding of the product and the value it can bring to a holistic financial strategy.
Another advantage of FIUL is the protection it provides--not only to beneficiaries via the death benefit, but also to the value of the policy through the selected index allocation.
These attributes--death benefit protection and the potential for an increase to the policy's cash value--have helped make FIUL one of the fastest growing segments in the life insurance industry, highlighting the true need and appetite for cash value life insurance.
is permanent life insurance that builds cash value over the client's lifetime.
As the newest addition to the Allianz Life line of FIUL
products, Life Pro+ helps consumers protect their life, accumulation potential and purchasing power.
At that point, we relied heavily on our actuaries to demonstrate the strong value that FIUL
provides to consumers and help shape a compromise that we could support.
In that way, FIUL
can be an effective method for people to address multiple financial concerns at the same time.
These attributes -- death benefit protection and the potential for an increase to the policy's cash value -- have helped make FIUL
one of the fastest growing segments in the life insurance industry highlighting the true need and appetite for cash value life insurance.
products offer the potential for upward appreciation while limiting the downside risk often associated with variable products.