VULSVanderbilt University Law School (Nashville, TN)
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Wing said that when VULs first became popular in the mid 1990s, excitement over the bull market drove sales, but now the excitement is more due to the experience and savvy of advisers and clients--a better understanding of style boxes and measures of volatility like alpha and beta.
These customers may decide to embark on the VUL route any time that they think the market has hit bottom.
Called VUL Guard, it has proven to be the company's single most successful product launch ever and its fastest growing business line segment, Carleton said.
In the Philippines, the price of pooled funds as measured by net asset value (or NAVPS for mutual funds) or net asset value per unit (NAVPU for UITFs and VULs) is computed at past 3 p.m.
Certain distributors say they can sell VUL with death benefit guarantees in 2009, says Mulheran.
Lincoln's lapse rate hasn't changed much, though Roche said there has been a slight increase in replacement activity from Lincoln VULs to the company's UL product.
A certain percentage, very low, has switched to UL contracts, and about the same percent has switched to bond portfolios within their VULs." Those switching to universal life contracts intend to remain invested in bonds; variable universal life contracts annually charge an extra layer of expenses of about 1.5% of assets, Ranftle said.
In the not too distant past, a common approach in developing premiums for VULs with a GMDB feature was to utilize a low-growth assumption for the account value, such as 2% to 4%.
* Surrender charge period is typically half that of periodic premium VUL.
Unfortunately, unlike the cooking machine that already has a mechanism to heat, cook and stop at the appropriate time, VUL insurance contracts need to be managed.
That speaks to a key feature of many modern VULs: The products offer a range of asset allocation tools to help producers and clients monitor the policy's "variable" nature--so clients can get in and out with comfort.
The sale of life insurance, and VUL in particular, is generally a complex transaction and unnecessarily so.