By John Hilton National Life Group is one of the oldest mutual insurance companies in the United States, but CEO Mehran Assadi likes to call the insurer, “a progressive mutual.” “Basically, it’s all about performing and being focused like a stock company with a long-term perspective of a mutual insurance company,” Assadi said during an investor…
By John Hilton State insurance regulators are tired are trying to keep up with life insurers that quickly skirt attempts to tamp down illustrations. Instead of further rulemaking, regulators are going directly to the products. The Indexed Universal Life Illustration Subgroup is “looking at specific company examples” of both IUL and annuities that use illustrations, said…
By Staff Reports Life insurance sales closed 2023 with a very strong fourth quarter, according to Wink’s Sales & Market Report. Non-variable universal life sales for the fourth quarter totaled $894.5 million, up more than 15.5% compared to the previous quarter and up 4.1% compared to the same period last year. Non-variable universal life (UL) sales…
By Nick Pratt Over the past 25 years, indexed universal life policies have become arguably the most complex life insurance products on the market — both for better and for worse. One feature of today’s IULs is the volatility-controlled index. These index strategies are referred to by several different names in our industry: VCIs, proprietary indices…