In uncertain times, clients will gravitate towards product guarantees. The Signature GUL is a safe alternative that will provide both protection and valuable options that your client can capitalize on in the future. Clients are looking for security and a way to preserve their family’s financial well-being during times of an economic downturn and turbulent world events. The Signature GUL provides these solutions to customers due to the ability to lock in a guaranteed death benefit to age 121 with premiums that will not change and a death benefit that will stay in-force if the premiums are paid. Customers can breathe a sigh of relief knowing that if the unfortunate happens, their family’s financial future will be secure. The product also includes living benefit riders for chronic, critical, and terminal illnesses that can be fully or partially accelerated in case of a medical emergency. This means that the client can be protected on all fronts.
The advantages do not stop with a guaranteed death benefit and living benefit riders. Savings are hard to come by with the rise in living expenses and other economic factors so why not ensure that your client can reap the benefits of a return of premium feature on their policy?
The ability to access most, if not all, of the premiums paid into the policy in the 15th, 20th, and 25th year allows you to maintain a guaranteed death benefit until you reach a point in the future in which you would like to access your premiums. The product is an excellent fit for those clients that are between 30 and 50 years of age who may have children at home with the urgency to save for college but also the necessity for life insurance in case the unfortunate happens. The return of premium feature can be accessed when the kids head off to college and the need for life insurance is no longer needed. This serves and satisfies two critical needs which are that of a guaranteed death benefit and a college savings plan that can be accessed when the need arises.
College savings may not be the only concern for clients. Mortgage pay-offs or other future goals may be at the forefront such as remodeling your home or purchasing that sports car you’ve always wanted since high school. The Signature Guaranteed Universal Life product is an excellent fit for those customers who desire financial security with a guaranteed death benefit and most importantly level premiums with the ability to have 100% of them returned to the customer in the 20th or 25th year.
Xpress and Xpress Plus underwriting at American National is a perfect fit for those clients in younger age bands who are looking to repurpose their Signature Guaranteed Universal Life policy. Both underwriting programs do not mean guaranteed issue but they do not require automatic medical exams which can lead to a quick underwriting process.