LifeTrends: Testing Bridge Products
Over the last five to ten years, there has been a significant push by life insurance carriers for brokerage general agencies and producers to consider alternative product solutions to the traditional guarantee universal life (GUL) sale. The concept of selling a non-guarantee has been slow to evolve, hinging upon the perceived simplicity of positioning a guaranteed product. The fact of the matter is, clients should also be considering strong alternative options that provide additional value not offered by GUL products. The terminology we use to describe these options is bridge products, as they link a significant guarantee aspect with the best elements of non- guaranteed offerings—meaningful cash accumulation, much more flexible (one could say forgiving) premiums and a monumentally lengthy exit strategy.