Full Disclosures Survivorship Life Report
Twice a year the editors of Full Disclosure compile the life insurance industrys largest survivorship life insurance product database. Our research includes complete policy specifications and features, current and guaranteed costs and expenses, and a wide sampling of illustrations.
The excerpts in this report feature illustrated values for whole, universal and variable life survivorship products from the leading companies in the market. And while these charts are only slices of the Full Disclosure database, they give an idea of how these products illustrate in the market.
This report features a record number of policies. If Full Disclosure participation levels reflect the vitality of this segment, fears of estate tax reform may be misfounded.
Because policies are designed for specific outcomes we usually run a Product Strengths section in these excerpts that includes editorial comment from our participating companies. In this report, however, we have standardized some of these answers and added them to a section of the regular report known as Product Objectives, which are also repeated here. While not all of a products design objectives may be listed, you can see for what market many of these policies are meant. Some are built for low premiums, for example, while others are meant to generate major league cash values.
Extending the issue of the product objective is the fact that a policy may be intended for a purpose and market as remote from illustrations as you can imagine. For example, it may have broad underwriting classes so more policies are issued preferred, or it may be oriented to business applications with appropriate features. If there is little detail for a policy in the Product Objectives section that doesnt mean its a non-performer; chances are its designed as a middle-of-the-road product designed for wider markets.
Certain companies specialize in “uninsurable” lives, while others build their variable products around a huge selection of subaccounts. You will notice in the variable survivorship life (VSL) chart there is a new column with the number of available subaccounts for each one.