A Protection Focused IUL is an alternative to a GUL. It’s designed to last for a client’s lifetime but without a lifetime guarantee. Instead it has a life expectancy guarantee and relies on cash values to maintain coverage for life.
If you’re like me, you’ve heard this before, right? Old fashioned ULs from the 80’s and 90’s didn’t meet expectations and policies lapsed. That’s why GULs were invented, so clients would have guarantees and not worry about their policy remaining in force.
You may not be aware that there are still potential problems with GULs. In fact, your clients may now be better off with the new protection focused IULs. If they prefer lower premiums or greater flexibility in their permanent life insurance policies, you want to consider a Protection Focused IUL.