New Indexed Universal Life products offers consumers lifetime protection
Midland National® Life Insurance Company and North American Company for Life and Health Insurance®, member companies of Sammons® Financial Group, Inc., are proud to unveil their enhanced Indexed Universal Life (IUL) products. Midland National announces Strategic Protector® IUL 2, and North American announces Protection Builder IUL® 2. These highly competitive, next generation products are designed to combine a guaranteed death benefit1 with cash value growth potential. Strategic Protector IUL 2 and Protection Builder IUL 2 can help meet several financial goals, including legacy building, estate planning, and emergency funding.
“The enhancements we’re making to Strategic Protector IUL 2 and Protection Builder IUL 2 will make these products extremely competitive. At the time of launch, we expect these to illustrate among the top products in the space,” said Jerry Blair, president of Sammons Life Insurance Group. “Our message is clear: we’re here, we’re listening, and we’re providing competitive products that customers and producers are asking for.”
Strategic Protector IUL 2 and Protection Builder IUL 2 offer guaranteed death benefit protection up to age 1201 with the Premium Guaranteed Rider (PGR), available at issue only. If the PGR is not elected, the no-lapse guarantee (NLG) can be used to guarantee the death benefit during the specified NLG period. The products also offer improved competitiveness for guaranteed pricing and non-guaranteed performance and a 10-30% decrease in premiums for certain age, rate class and death benefit combinations.
“Six months ago, we launched Strategic Accumulator® IUL 3 for Midland National and Builder Plus IUL® 4 for North American. Today, we’re thrilled to be launching Strategic Protector IUL 2 and Protection Builder IUL 2,” added Blair. “As the names suggest, these products are keenly focused on those wishing to protect their legacy while also accounting for the flexibility and simplicity customers’ desire. Whether consumers are looking for accumulation, protection, or something in between, we have a competitive IUL solution that can help them reach their goals.”
Discover the latest trends and insights—explore the Business Insights Journal for up-to-date strategies and industry breakthroughs!
