Term News
Protective Life introduced a survivorship term product. The second-to-die term life insurance policy, insures two lives under one policy, with the death benefit payable to the designated beneficiary following the surviving insured’s death. This product is primarily designed for estate planning needs and also works well for wealth preservation. The Protective survivorship term product can help offset the federal estate tax that would otherwise be payable at the death of the surviving spouse. This policy provides a reasonable means to help your client begin an estate plan or can act as an excellent complement to an existing estate plan. For more information, call 205-268-3029.

Second-To-Die Term life
How Term Insurance
Can Help in Retirement

Kiplinger.com features an article on how a term policy or permanent policy, such as whole life can help people in retirement. titled “A New Lease on Life Insurance.” (http://kiplinger.com/magazine/archives/2009/09/insurance-for-retirement.html.)
Millions of Americans bought low-cost, multiyear term policies 10 to 20 years ago when their kids were young, and they expected to drop the coverage when the term -- and low rates -- expired. But if you go without now, you could be missing some special opportunities to extend your coverage for less than you think and retain tax-free death benefits that will make up for the damage to your retirement funds and pension. Term-insurance rates have plummeted over the past 15 years because of intense competition and longer life expectancies. So you may actually pay less now for the same coverage even though you’re older or lock in a longer rate guarantee with little affect on your premium.

Cash-value life-insurance policies, such as whole-life and universal life, have a complexity that can translate into more ways to pull money out and still preserve your life-insurance coverage.

Guaranteed Term
Kiplinger.com features an article on how a term policy or permanent policy, such as whole life can help people in retirement. titled “A New Lease on Life Insurance.” (http://kiplinger.com/magazine/archives/2009/09/insurance-for-retirement.html.)
Millions of Americans bought low-cost, multiyear term policies 10 to 20 years ago when their kids were young, and they expected to drop the coverage when the term -- and low rates -- expired. But if you go without now, you could be missing some special opportunities to extend your coverage for less than you think and retain tax-free death benefits that will make up for the damage to your retirement funds and pension. Term-insurance rates have plummeted over the past 15 years because of intense competition and longer life expectancies. So you may actually pay less now for the same coverage even though you’re older or lock in a longer rate guarantee with little affect on your premium.

Cash-value life-insurance policies, such as whole-life and universal life, have a complexity that can translate into more ways to pull money out and still preserve your life-insurance coverage.

Term Sales – a Bright Spot in a Slow Quarter
Two companies with net losses in the second quarter – Lincoln Financial Group and Hartford Financial Services Group – mentioned term sales as a bright spot in their financial reports. Dennis Glass, president and CEO, said, “MoneyGuard, a linked-benefit universal life insurance policy with a long term care rider, and term life insurance sales improved year-over-year and sequentially once again, as market demand shifted toward lower-cost protection products.

At Hartford, life insurance in-force rose 6% over the prior-year period, primarily driven by a 17% increase in term life insurance, as customer demand shifted to fixed products.