Acacia National Life Allocator 2000
Can be structured to enhance account value, death benefit or a combination of both; often used for retirement income; good for juveniles when combined with guaranteed insurability rider and total disability rider; zero cost loans available.
Allmerica Financial VUL2001/Select Life Plus
Many features, one product; high rolling target premiums and unique application process; producers can handle entire app processing use tele-med process that lets them simply submit an order ticket and company does the rest.
Ameritas Variable Life Overture Encore!
Used for higher-band cases; high cash value; broad/favorable underwriting; Morningstar approved investment options; all equity style boxes represented for complete diversification of investments; balanced producer compensation and product performance.
Ameritas Variable Life Overture Applause! II
Used for lower-band cases; high cash value; broad/favorable underwriting; Morningstar approved investment options; all equity style boxes represented for complete diversification of investments; balanced producer compensation and product performance.
American General/United States Life Platinum Investor
Designed for retirement income or low cost death benefit; availability of a large case underwriting team; zero net cost loans; high target premiums; flexible premium and coverage amounts and an extensive selection of riders for customized coverage; contractually guaranteed M&E charges and monthly admin. fee, high issue ages.
Canada Life Prestige Series VUL
Designed to provide long-term cash values and death benefit performance; term rider flexibility; lifetime death benefit guarantee available; full commission on the first target premium even if it is paid in future years.
CNA Life Dimension One VUL 2000
Easy access to cash value; multiple fixed account options; death benefit continues beyond age 95 (asset based charges continue and insurance related charges cease); full compliment of riders; policy guarantees; term Conversion program.
CNA Life Dimension Four Flexible Premium
Affordable long-term insurance protection; multiple fixed account options; death benefit continues beyond age 95 (asset based charges continue and insurance related charges cease); streamlined load structure with no policy fee; VA type liquidity option; surrender charges based on 9 year scale; term conversion program; full compliment of riders.
Equitable Life Incentive Life
Designed for cash accumulation and death benefit protection sales; policy offers unique features including enhanced death benefit guarantee rider and paid-up death benefit guarantee provision; non-guaranteed customer loyalty credit of 0.60% of unloaned policy account value beginning in the 7th policy year; preferred loans beginning in policy year 16; accounting benefits endorsement for business sponsored policies improves policy values in early years.
GE Life and Annuity Protection Plus VUL
Death benefit guarantees, low endowment premiums and attractive compensation; non-preferred loans at 0.70%, impaired risk underwriting expertise.
GenAmerica Financial American Vision VUL 2000
Designed for retirement income; strong premium to endow performance; available as accumulator and protector products; attainable elite risk class; 10 unique SEI “manager of manager” funds; 7.25% general account returns; lifetime coverage rider available; for all policies no COIs are charged and no premium is required after age 100; no charge variance portfolio rebalancing (% variance range selected by the client; does not count against the annual limit on number of fund transfers).
Guardian Insurance & Annuity Park Avenue Millennium
Flexible through a range of features and benefits; death benefit option 3 provides a death benefit equal to the face amount plus net accumulated premiums; ability to choose between one of two Section 7702 tests; policyholders can exchange the variable universal life policy for a whole life insurance without evidence of insurability (prior to 70th birthday or second policy anniversary).
John Hancock Life Medallion Variable Life Plus
Strong early values; long-term death benefit guarantees.
Jefferson Pilot Financial Ensemble III
Designed for both low premium/death benefit and high premium/cash accumulation applications; guaranteed monthly accumulation value adjustment; zero spread loans on cash values over guideline single premium are contractually guaranteed; rider provides guaranteed non-forfeiture values; supplemental coverage rider; attainable preferred plus underwriting class.
Lincoln Benefit Life Consultant VUL
Designed to accumulate & distribute cash efficiently for retirement income; broad/favorable underwriting; strong guarantees (death benefit, mortality bailout, wash loan and maturity rider).
Lincoln National Life VUL-CVII
Cash value accumulation focused; competitive in cash out scenarios while still providing a significant death benefit at age 100; 10-year and lifetime guaranteed death benefit available; accumulation and liquidity for deferred compensation, education funding and income replacement; accounting value rider.
Lincoln National Life VUL-DB
Death benefit focused and designed to be affordable; ten-year death benefit guarantee; accounting value and change of insured rider.
Manufacturers Life Venture VUL Protector
Competitive premium solves; extended no lapse guarantee flexible to age 100 (20-year guarantee automatic); flexible term insurance rider; preferred rates to age 90; quit smoking incentive (lower COI rates during first three policy years for smokers).
Manufactures Life Venture VUL Accumulator
Designed for cash accumulation and retirement income through tax-preferred loans and withdrawals; product covers three different target markets; three commission options and load options.
MassMutual Financial Group VUL II
Full death benefit guarantee for life; competitive premiums; five underwriting classes including two preferred nontobacco classes and a preferred tobacco class; several rider options.
Midland National Life Variable Executive UL 2
Designed for cash accumulation with low cost death benefit protection; no-lapse guarantee; retirement income through guaranteed zero cost loan feature.
National Life of Vermont VariTrak
Low cost structure and competitive cash value accumulation; accelerated benefits rider and chronic illness provision that accelerates benefits on a discounted basis in the event insured cannot satisfy two of six activities of daily living.
New England Financial Zenith Flexible Life 2001
Low endowment premium; competitive death benefit and cash value performance; term to age 100 rider allows competitive performance throughout policy’s duration.
Northwestern Mutual Life Variable CompLife
Full death benefit guarantee designed for long-term cash value accumulation; product is not universal life, it is participating and expects to pay dividends; flexibility achieved through components: variable whole life, additional protection, additional premiums, and lump sums; early warning system tests additional protection piece after the guarantee period has expired for adequate funding to age 100.
Nationwide Financial The Best of America Next Generation FPVUL
Designed for high cash values.
New York Life & Annuity VUL 2000
Three-year no-lapse provision (except in N.J.) to acclimate clients to market risk; designed to perform best when well funded; interest sweep, asset reallocation, dollar cost averaging and expense allocation options are available at no cost.
Ohio National Financial Vari-Vest Asset Builder
Designed for competitive long term cash accumulation and distribution at higher funding levels; guaranteed reducing M&E charges; low guaranteed loan rates with guaranteed zero net cost loans; guaranteed death benefit option.
Pacific Life Select Exec II
Designed for retirement income and death benefits; fixed LT option and first-year transfer program; ART and accounting benefit riders; persistency credit in years 16+; zero-net-cost preferred loan provision in years 6+; three compensation options; automated income option streamlines access to account values at retirement via a systematic monthly withdrawal plan.
Paragon Life VUL
Low-load contract with no sales load or surrender charges; low internal charges and favorable loan feature; designed for fee based financial planners; high early cash value favorable to small business cases; no compensation.
Penn Mutual Life Cornerstone VUL IV
Designed for cash accumulation and retirement income; low endowment premium; disability benefit waives monthly charges and credits monthly deposit; return of premium, enhanced coverage and business accounting riders.
Phoenix Life Individual Edge
Low cost of insurance charges; no front-end sales load; individual term, whole life exchange, and cash value accumulation test riders available; issue age to 85; trail commissions; M&E charge contractually guaranteed to reduce from 0.80% to 0.25% in year 16.
Protective Life Premiere Provider VUL
High early cash value with competitive long-term values and strong retirement income streams; best in heavily funded sales.
Protective Life Premiere II VUL
Designed for higher long-term cash value and retirement income streams; best in heavily funded sales.
Provident Mutual Life Options Premier
Recently added long-term care rider and improvement in target premiums.
Pruco Life PruLife Custom Premier
Designed for either heavily funded (max non-MEC premium), moderately funded (commissionable target premium), or minimally funded scenarios and uses from minimum premiums to retirement income or endowment scenarios.
Reliastar Life Flex Design
Designed for retirement income and cash accumulation; 1035 exchanges with loans (full commission); term rider on base insured to age 100; low M&E charges; cash value test; death benefit option C (face amount plus premium) for business cases; issue age to 85; no commission reduction for policies issued over 65.
Security Life of Denver Asset Portfolio Manager
Designed for long-term cash accumulation and retirement income; nine year surrender charge period; competitive in minimum premium to carry/endow; ratcheted M&E charges; continuation of coverage for full death benefit; two compensation packages; preferred class for tobacco users; adjustable term rider.
Security Life of Denver First Line II
Good for retirement income; full death benefit at maturity; continuation of coverage extends benefits past age 100; adjustable term rider; dollar cost averaging and automatic rebalancing; unlimited transfers between subaccounts and unlimited number of investment options.
Security Life of Denver Strategic Advantage II
High target premiums and levelized compensation; high early cash values for COLI, and deferred compensation; dynamic adjustable term rider; extended maturity option; unlimited subaccount transfers and number of investment options.
Southland Life Market Dimensions
Death benefit guarantee option to age 100; rolling target premiums; good for retirement income with zero net interest preferred loans beginning in the 11th year; continuation of coverage available after age 100.
Sun Life of Canada (U.S.) Futurity Accumulator VUL
Designed for long-term growth and flexibility through life of policy; supplemental insurance rider; no lapse guarantee that applies to base and supplemental portion; low guaranteed mortality and expense charges; automatic death benefit extension at age 100; guaranteed 0% spread loans after year 10.
Sun Life of Canada (U.S.) Futurity Protector VUL
Designed for long-term growth and flexibility through life of policy; 3 year rolling target commission schedule; low guaranteed mortality and expense charges; automatic death benefit extension at age 100; designed for maximum death benefit protection.
Travelers Variable Life Accumulator
Designed for those seeking income and over funding; 10% free withdrawal starting year 2; guaranteed 2% net cost loan spread first 15 years and guaranteed zero net cost in year 16; higher target premiums; no charge for either 10-year or lifetime no-lapse feature (minimum required premium; lifetime no-lapse requires a higher deposit starting in year 11); low required premium for first 10 years; extension of cash value and death benefit beyond age 100 (for issue ages up to 80); waiver of specified amount up to guideline annual premiums.
Travelers Variable Life
Designed for low premiums to endow; efficiently build cash value good for income; no charge for either 10-year or lifetime no-lapse feature (minimum required premium; lifetime no-lapse requires a higher deposit starting in year 11); low required premium for first 10 years; extension of cash value and death benefit beyond age 100 (for issue ages up to 80); waiver of specified amount up to guideline annual premiums.
Union Central Excel Choice
Emphasizes cash value accumulation and distribution through low policy expenses and low net loan cost; company passes back future product enhancements to in-force policyholders.
Companion/United of Omaha Life Flexible Premium Ultra VL
Designed for retirement income scenarios; ability to place impaired risk clients; lapse guard prevents qualifying policies from lapsing in an over-loaned situation.
Western Reserve Life Freedom Elite
Designed for long term values; no premium expense sales loads.
Western Reserve Life WRL Freedom Elite Builder
Designed for long term values, with favorable insurance costs and face amount banding; banded cost of insurance; no premium expenses charges for higher bands.
Kemper Investors Life Zurich Kemper Investor
Competes favorably in over-funded premium payment scenarios; zero-net cost loans on earnings; unique application process.
Reproduced from National Underwriter Life & Health/Financial Services Edition, November 12, 2001. Copyright 2001 by The National Underwriter Company in the serial publication. All rights reserved.Copyright in this article as an independent work may be held by the author.