The lifetime no-lapse VUL space, or guaranteed VUL (GVUL), has been extremely popular among our BGAs and wholesale point-of-sale professionals since 2013. The carriers have rotated through the years on the most competitive product. As it stands today, Securian’s VUL Defender is one of the most competitively priced lifetime no-lapse VUL products available. In the below heat map comparison piece, Securian compares the VUL Defender against similar products from Nationwide, Lincoln, Prudential, and Pacific Life. It confirms that in most instances, the Securian VUL Defender comes out ahead or at least in second place compared to the competition. This is just a snapshot provided by a carrier, so you will want to run your own illustration comparisons to see. I know that when I have done so, I found similar results to what is shown here.
VUL Defender Competitive Flyer
We also know that the ability to accumulate cash value within the policy for client use down the road is an important component of VUL. With fixed crediting rates as well as bond yields as low as they are, it is important to have the ability to invest in equity sub-account options to potentially enhance returns. This product also features indexed sub-account options, like what you would find in an IUL, that can protect in a down market, yet allow a customer to participate in a positive market. The indexed option is popular with the equity markets currently at all-time highs; however, they do come with a lock-in period to which the customer needs to be made aware. This is a popular sales piece from Securian that outlines some real-life scenarios for use with financial professionals.
The Flexibility of VUL Defender
Securian has built a nice microsite for point-of-sale professionals and agents with supporting documents, information about their Accelerated Death Benefit for Chronic Illness Agreement, and information regarding their WriteFit accelerated underwriting capabilities, among other aspects. Visit using the link below to find out more.
We are continuing to monitor the VUL market, and please feel free to reach out to me if you have some questions regarding products, sales ideas, distribution, or other areas of concern.
THE LEADERS GROUP, INC.
MEMBER FINRA / SIPC
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