Variable Universal Life Insurance

Understand the history, key features, and mechanics of the variable universal life insurance product.

Provider #: 125003

Includes: Certificate of Completion

Approval: #212190

Credit Type: Life and Health

Credit: 3 Hour(s) | Language: English

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About this Course

Variable Universal Life (VUL) Insurance begins with an examination of the financial and political environment in the decade of the 1970s that gave rise to the conditions resulting in the development of the universal life insurance product. The student will understand the roles played by extraordinarily high interest rates that gave rise to disintermediation and a Federal Trade Commission report that was critical of whole life insurance in the decline of whole life insurance sales. Fixed premium variable life insurance is considered, principally in its role as a precursor and foundation for the VUL product.
The key features of all universal life insurance products, including VUL, are examined, including their:
- Flexible premiums
- Adjustable coverage
- Expense and mortality charges
- Death benefit options and their relationship to the policy's amount at risk
Cash value access and taxation are considered, and the appropriateness of withdrawals and policy loans are discussed in reference to the policy owner's intent to repay. Variable universal life suitability is examined, and students are provided with decisional factors to consider in making any suitability analysis.
 

Regulatory Information

Name:Virginia Bureau of Insurance
Phone:804-371-9631
Fax:804-371-9290
Website URL:https://www.scc.virginia.gov/boi/
Email Address:bureauofinsurance@scc.virginia.gov
Address:1300 E. Main Street, Tyler Building
City:Richmond
State:VA
Zip:23219

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