Variable Universal Life Insurance

Course Description:

Variable universal life insurance—usually referred to simply as VUL—combines features of two relatively new and important life insurance products: variable life insurance and universal life insurance. In this course we will examine both of these predecessor products as a way of better understanding VUL.

Learning Objectives:

Upon successful completion of this course, participants will be able to:

• Understand the flexibility of variable universal life insurance premiums and the adjustability of its death benefit;
• Compare and contrast variable universal life death benefit Option A, B and C;
• Explain the applicable variable universal life expense and mortality charges;
• Calculate variable universal life coverage, net amount at risk, cash value and mortality charges;
• Understand variable universal life transactions, premiums, surrenders, loans and withdrawals;
• Discuss the special VUL policy owner rights;
• Explain the tools available to a VUL policy owner to manage cash value volatility;
• Identify the basic VUL variable subaccounts and the risks normally found in various classes of investments;
• Apply the NASD guidelines with respect to VUL suitability; and
• Identify variable universal life suitability factors