PAUL provides client early cash while comping advisors based on cash vale
CHARLOTTE, NC, June 1, 2015 – MetLife today announced the launch of its new Premier Accumulator Universal Life SM (PAUL) product.
Designed to offer increased flexibility, the new option provides both death benefit protection and access to high early cash value accumulation to help policyholders meet a variety of financial goals.
Clients, including small business owners, who choose PAUL, can enjoy several benefits including:
- Access to more cash value, faster than traditional life insurance policies. Clients have the potential to access most or all of what they put into the policy within the first few years, providing outstanding liquidity and options to help meet changing needs. ¹˒²
- Competitive cash value accumulation that can be used to help meet financial goals, including supplementing retirement income.
- A non-correlated asset that removes the direct impact of market fluctuations from the client’s life insurance policy by growing policy values through interest crediting rates less deductions for charges.
- Low surrender charges mean that clients will not face a severe financial penalty if they decide the policy no longer fits into their financial strategy.
- Enhanced Rate Plus, a new underwriting process for eligible clients that can reduce the time typically required for an underwriting decision to only a few days; eliminate the need for paramedical exams and lab work; and can boost a qualifying client’s rating class, resulting in better premiums.3
PAUL also offers financial professionals the potential to earn compensation through an asset trail based on the cash value, which differs from traditional life insurance products, making it one of the few with this structure in the life insurance industry. While many life products provide most compensation upfront, PAUL is different in that it’s designed to potentially pay financial professionals more over the life of the policy.
“PAUL was designed with our clients’ needs in mind, delivering the protection they want along with more cash value in the earlier years than traditional life insurance policies,” said Gene Lunman, executive vice president of MetLife Retail Life & Disability Insurance. “With PAUL, we’re giving our clients the potential to access most or all of what they put into their policy, within the first few policy years, providing them with significant flexibility as their needs change. This new product further emphasizes MetLife’s commitment to offering competitive solutions to our clients who are seeking protection now, and in the future.”
To learn more about MetLife’s full spectrum of life insurance options, including PAUL, please visit here.
MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is one of the largest life insurance companies in the world. Founded in 1868, MetLife is a global provider of life insurance, annuities, employee benefits and asset management. Serving approximately 100 million customers, MetLife has operations in nearly 50 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.
¹High early cash values are based on the assumptions of current interest crediting rates and current charges which are not guaranteed, and are subject to change by the insurer, and assume the policy is optimally funded. Guaranteed assumptions and other funding patterns will result in lower values. You should request a full illustration from your financial professional to see how this would impact a policy you may purchase.
²Policy loans and withdrawals will reduce the contracts cash value and death benefit and may cause the policy to lapse. If the policy lapses, you may incur tax consequences. In addition policy loan interest will be charged annually on any outstanding loan balance
3All eligible clients who qualify for Standard Rates without an extra premium will receive the upgrade. Clients with certain factors – including, but not limited to, ratable medical impairments and other health or lifestyle risks that require an extra premium – do not qualify for Standard Rates or program upgrades and will proceed through traditional underwriting. MetLife Premier Accumulator Universal Life is issued by MetLife Insurance Company USA on Policy Form 5E-37-14 and in New York only by Metropolitan Life Insurance Company on Policy Form 1E-37-14-NY.