There are a few choices you can make to get the right mix of investments within your policy. Some clients like being able to pick their investment options themselves from a range of well-known financial firms. Others prefer using a model-portfolio approach with investment combinations that have been built by experts. You can match your risk tolerance and time horizon however you decide to invest.
Work with a Financial Services Professional to customize your policy with these add-ons, which are also known as riders:
Protection in the event that you become disabled.
If you’re looking for additional protection in the event you become disabled, the Monthly Deduction Waiver option will waive certain fees, which helps protect your cash value. Or, the Waiver of Specified Premium option covers your policy premiums if your not able to pay them. These are both available for purchase, and the majority of our clients include them in their policies.
Protect your cash value.
If you want some protection from the ups and downs of the market, you might consider purchasing our Guaranteed Minimum Accumulation Benefit. You’ll get a promise that your return rate won’t drop below a certain level if the market falls. It’s available if your policy has been inforce for 12 years or more and it may limit the investment options you're able to select.
You should consider the investment objectives, risks, charges and expenses of a VUL policy carefully before investing. Both the product prospectus and the underlying fund prospectuses contain this and other information about the policy and underlying investment options. Ask your Registered Representative for prospectuses, and read them carefully before investing. VUL policies involve mortality and expense risk charges, surrender charges, cost of insurance charges, administrative charges, and monthly per-thousand face amount charges.
It’s always useful to learn a little more. Take a look at these helpful links.