Leveraging permanent life in retirement and protection planning
March 28, 2017 by Mark Peterson
As a financial professional, you’re likely well aware of the role and value proposition of permanent life insurance.
Yet, the most recent LIMRA Ownership Study report, published earlier this year, shared that 2016 marked the first study period when owners of individual life insurance policies were more likely to have term life products than permanent life products. Perhaps consumers simply don’t know how permanent life insurance, and universal life products in particular, can support their retirement planning and protection goals.
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Additionally, as a recent article on LifeHealthPro.com shared, IUL sales reached an all-time high in 2016, topping $1.97 billion, according to the 78th edition of “Wink’s Sales & Market Report.” The report, which aggregates data from 48 manufacturers of IUL products, revealed a 5.9 percent rise in IUL sales year-over-year. IUL premium revenue rose 18 percent during the three months ending Dec. 31, 2016, compared to the prior quarter.
