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Longer lives are changing the permanent protection conversation. Explore insights and resources to help you evaluate guarantee duration, policy flexibility and why age 100 deserves a closer look.
Look beyond age 90
Age 90 may be a familiar planning benchmark, but the need for protection can continue well beyond it. If the guarantee ends at 90, keeping coverage in place may rely more on nonguaranteed policy performance or additional funding.
Looking to age 100 can provide guaranteed protection for more years and better account for the possibility of a longer life. The right guarantee period will depend on each client’s needs and goals.
Design for protection and flexibility
Policy design is about more than finding the lowest premium. Evaluate how guarantee duration, funding commitment and long-term policy value potential work together to support the client's protection objectives.
A longer guarantee can provide greater certainty, while cash value may provide additional flexibility as needs evolve.
5 questions to consider
- Is the need temporary or intended to last for life?
- How long is the death benefit actually guaranteed?
- What changes if the guarantee extends from age 90 to at least age 100?
- How dependent is later coverage on nonguaranteed policy performance?
- Could cash value provide additional options as needs evolve?
Resources to continue the conversation
Put beyond 90 into practice — use these resources to bring the longevity conversation to life and help clients evaluate how long their protection may need to last.
Life insurance products contain charges, such as Cost of Insurance Charge, Cash Extra Charge, and Additional Agreements Charge (which we refer to as mortality charges), and Premium Charge, Monthly Policy Charge, Policy Issue Charge, Transaction Charge, Index Segment Charge, and Surrender Charge (which we refer to as expense charges). These charges may increase over time, and these policies may contain restrictions, such as surrender periods. Policyholders could lose money in these products.
Please keep in mind that the primary reason to purchase a life insurance product is the death benefit.
Insurance policy guarantees are subject to the financial strength and claims-paying ability of the issuing insurance company.
For financial professional use only. Not for use with the public. This material may not be reproduced in any form where it is accessible to the general public.
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