Indexed Universal Life Insurance
For clients seeking guaranteed death benefit protection1 along with the opportunity to build cash value accumulation for later use, take a look at Protection Builder.
- Guaranteed death benefit protection up to age 1201
- Several index options and index crediting methods
- Interest bonus on the index and fixed account2
- Choice of loans3
- Premiums allocate daily to the index selections4
- Premium Deposit Agreement available:
- Premium Guarantee Rider is now optional (a charge for this rider will be deducted from the account value)
- Premium Recovery Endorsement (available only with selection of the Premium Guarantee Rider)
- Retirement planning
- Annuity maximization
- Legacy building
- Estate planning
- 1035 exchanges
- Buy-sell agreements
- Executive bonus
Not available for use in Nevada.
Agents offering, marketing, or selling accelerated death benefits for chronic illness in California must be able to describe the differences between benefits provided under an accelerated death benefit for chronic illness and benefits provided under long-term care insurance to clients. You must provide clients with the ADBE Consumer Brochure for California that includes this comparison. Comparison is for solicitation purposes only, not for conversions.
Indexed universal life insurance products are not an investment in the "market" or in the applicable index and are subject to all policy fees and charges normally associated with most universal life insurance.
1. Subject to premium payment requirements.
2. Protection Builder offers a conditionally guaranteed interest bonus on the fixed account. If we are crediting interest in excess of the guaranteed interest rate and your client’s policy is in effect after the 10th policy anniversary, your client’s policy will receive an interest bonus. The interest bonus is 0.75% above the then current interest rate. The interest bonus percentages are not guaranteed and subject to change; however, once a policy is issued, the percentage will not change.
3. In some situations loans and withdrawals may be subject to federal taxes. North American Company does not give tax or legal advice. Clients should be instructed to consult with and rely on their own tax advisor or attorney for advice on their specific situation. Income and growth on accumulated cash values is generally taxable only upon withdrawal. Adverse tax consequences may result if withdrawals exceed premiums paid into the policy. Withdrawals or surrenders made during a surrender charge period will be subject to surrender charges and may reduce the ultimate death benefit and cash value. Surrender charges vary by product, issue age, sex, underwriting class, and policy year.
4. Premium allocated to index bucket on trading day (the day the New York Stock Exchange is open for business) upon receipt.
Protection Builder is issued on policy form series LS186 or state variation, including all applicable endorsements and riders, by North American Company for Life and Health Insurance, Administrative Office, One Sammons Plaza, Sioux Falls, SD 57193. Products, features, riders, endorsement or issue ages may not be available in all jurisdictions. Restrictions or limitations may apply.
FOR AGENT USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.