TEMP Zendesk
The goal of the case is to ‘maximize accumulation dollars.’ To accomplish this, we minimize and solve for initial Death Benefit to maximize cash value accumulation.
Index Universal Life Insurance is often used as an efficient product that provides the advantage of leveraging a market index to increase potential returns on the premium dollars allocated to the policy. Life Insurance for protection and accumulation is a core strategy for financial planning that covers both the need for some level of protection and is a tax advantaged way to accumulate cash value for future goals.
In this example, the premium is an allocation of $20,000 for 10 years per the clients’ policy. Ensight Intelligent Quote will allow us to design the case and compare various IUL products to evaluate Death Benefit and accumulation values to arrive at the best and most competitive product for your clients.
Case Example
Valued Client
Male
Age 45
Preferred Non-Tobacco
10 Year
$20K Annual
Solve for Death Benefit
1. To begin, enter your client’s basic information, SAVE and name the case, and then click Go to Product Type to continue
2. Product Type Page select only:
3. Solve For Page: Fill in inputs as shown
On the Solve For page, choose to solve for Minimum Non-MEC Death Benefit minimizing death benefit to maximize the amount of cash value accumulation.
4. Policy Options Page: Fill inputs as shown
On the Policy Options page, choose the ‘Increasing’ Death Benefit Option during the premium payment period to maintain the Minimum Non-MEC and allow it to maximize cash accumulation.
5. Disbursements Page: Select No
Then click the progress arrow to go to the next page.
6. Reports and Riders Page: Select Yes on ‘Internal Rate of Return’ (IRR) and Client Input Summary.
Then click ‘Go to Agent Details’ to continue.
7. Agent Details Page: Enter agent information.
Then click ‘Go to Product Selection’ to continue.
8. Product Selection Page: Select desired accumulation based IUL products to illustrate and compare.
9. Summary Page: You will now see a scrolling list of products to select from.
10. Summary Page (Continued):
- Click on the ‘Non-Guaranteed Cash Value’ column to sort high to low. This will help you see the most competitive products.
- This case design can also be saved to your ‘Intelligent Quote Homepage’ by clicking SAVE AS in the top right corner. Make sure to use your naming convention when naming the case.
- When you check the boxes to select products, the ‘Download Selected’ and ‘Summary PDF’ buttons will become highlighted. ‘Download Selected' will download and save the illustrations to your computer. You can download a PDF version with the ‘Summary PDF’ button and print or send it as a benchmark or summary of the competitive products.
- Click on the illustration icon to see the full compliant illustration.
- Select the desired products to and click Create Presentation to open the case in Ensight Presentations, where you can compare and present all the ledger values in the Product Table, Spreadsheet, and Charts.
