May 13, 2010

Indexed Universal Life for the Small Biz Market

National Life Group insurers start offering IUL in qualified plans

Small business owners looking to offer a complete indexed universal life (IUL) portfolio in their qualified plans now have access to these products through two members of National Life Group--Montpellier, Vermont-based National Life Insurance Company (NLIC) and Life Insurance Company of the Southwest (LSW).

National Life Group is also offering a product for the Section 79 market in the state of New York. A Section 79 plan is a group whole life insurance policy designed to reduce an employee's exposure to income tax on the value of life insurance provided by the employer. For non-New York, National Life Group also offers LSW's SecurePlus Advantage 79 as a product option for those seeking a policy to meet their clients' needs.

"These enhancements to our IUL products have been specifically designed to assist our agents in the small business owner market, whether they are just entering or in need of boosting their relationships with existing clients," Vince Vitiello, chief marketing officer, National Life Group, said in a press release.

NLIC says it has has been committed to the small business owner market and the sale of qualified plans since 1939. Since then, member companies of National Life Group have continued to offer full support and services for the business owner market including access to the company's in-house Third Party Administrator (TPA) and National Retirement Plan Advisors (NRPA), which offers the expertise, technology, and knowledge of the latest developments in the constantly changing area of qualified plan regulations to provide agents and their clients with the best service possible.

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