Universal Life Protector IV
Principal Universal Life Protector IVSM (UL Protector IV) provides guaranteed lifetime coverage at an affordable price. It is a flexible premium universal life policy that helps ensure future obligations are met by providing guaranteed death benefit protection on a single life.
- Lapse Protection Rider (LPR) provides guaranteed death benefit protection for a specified period of time ranging from a few years up to an insured’s lifetime.
- A “catch up” feature if premium payments are skipped or delayed (assuming the policy and LPR are in-force, and the client is aware and can afford the future increased premium).
- Choice of three death benefit options.
- Banded Cost of Insurance rates, with best rates starting at $1 million in face amount.
- Extended maturity date to the date of death with the Extended Coverage rider. This rider is added to all policies at no additional cost.
- Males and females age 55 to 70
- Face amounts over $1 million
- Clients seeking long-term, guaranteed death benefit protection
- Individuals with sizable assets in annuities and IRAs who seek a way to pass on those assets, but not the tax burden, to their heirs
- Individuals who have a single life estate planning need
- Individuals/business owners who want to avoid current assumption universal life products and the investment risk of variable products
- Issue ages: 0-85: Maturity: age 121
- Policy loans: no minimum loan amount; maximum loan amount is formula-driven (state variations may apply); fixed loan charge rates.
- Partial surrenders: Available after first policy year; $500 minimum. Up to two partial surrenders allowed per year. The sum of the two partial surrenders is limited to 75% of the Net Surrender Value at the time of the first partial surrender.
- Features an array of riders, including: Accelerated Benefits, Waiver of Monthly Policy Charge, Cost of Living Increase, Children Term Insurance, Extended Coverage and Salary Increase.
- For more information about UL Protector IV, go to:
Key materials listed below.
Consumer Brochure (BB9660)
Provides an overview of product features and benefits for clients.
Lapse Protection Flyer (BB9668)
Highlights everything clients need to know about the lapse protection feature available on UL Protector IV policies.
Term or permanent insurance? (BB12102)
Use this one-pager to help clients understand the difference between the two types of coverage. Included is an easy decision tree to help them think about needs.
Key materials listed below.
Product Profile (BB12053)
Get a quick overview of the UL Protector IV product features, target market and top solutions.
Using Death Benefit Option 3 with Universal Life (BB11966)
Illustrates the benefits of offering Death Benefit Option 3 with universal life insurance.
All guarantees are subject to the claims-paying ability of the issuing insurance company.
In exchange for the death benefit, life insurance products charge fees such as mortality and expense risk charges and surrender fees.
Withdrawals and loans may decrease the amount of death benefit and cash accumulation value.
The policy rider descriptions are not intended to cover all restrictions, conditions or limitations that may apply. See the policy and rider for full details. Riders are subject to state variations and may not be available in all states. Some riders may require additional premium.
While this communication may be used to promote or market a transaction or an idea that is discussed in the publication, it is intended to provide general information about the subject matter covered and is provided with the understanding that none of the member companies of The Principal are rendering legal, accounting, or tax advice. It is not a marketed opinion and may not be used to avoid penalties under the Internal Revenue Code. You should consult with appropriate counsel or other advisors on all matters pertaining to legal, tax, or accounting obligations and requirements.