Enhanced prosperity Universal Life™ insurance makes it easy and affordable for clients to achieve a complete and balanced financial plan, by providing four key components that make up a strong foundation:
It all adds up!
prosperity UL provides protection for your client’s family by protecting their income while they are working.
When clients are nearing, or in, retirement, prosperity UL can help protect their personal savings from the financial impact of disability caused by a critical illness, including the need for long-term care.*
* Under the Income Tax Act (Canada) and at the date of publication of this illustration, the receipt of Living Benefits is not currently taxable. ivari does not guarantee nor is it responsible for the tax treatment applicable to this policy feature. Clients should consult their legal or tax advisor for an opinion on this matter in relation to their particular circumstances.
prosperity UL is designed to encourage disciplined investing throughout your client’s life and rewards them for making consistent minimum premium payments through a Persistency and Performance Bonus.
The qualification and formula for both the bonuses are guaranteed.
Persistency Bonus: a reward for continuing to pay the minimum premium.
Performance Bonus: an additional reward that is payable if the requirements for the Persistency Bonus are satisfied and where the policy achieves a rate of return** of 7% or better.
** The rate of return is net of the Interest Option Fee where applicable of the Index Interest Option and the management fees & expenses (MER) and related applicable taxes of the underlying designated index where applicable.
prosperity UL offers the power of tax-deferred growth on investments so that more of your client’s money stays with them and they can meet their wealth accumulation goals faster.
* Some restrictions may apply. Refer to the provisions in the contract for more details.
With a variety of investment options and professionally managed portfolios you can customize the coverage that reflects your client’s personal investment goals at every stage of life. prosperity UL offers many guarantees to ensure that you client is getting the most of his investments:
5- and 10-year fixed rate interest options pay a minimum guaranteed rate of return of 1.5% and 2.00% respectively.
The Index Interest Option fee is guaranteed not to change.
We guarantee the availability of at least:
The COI rate per $1,000 of face amount is set when the policy is put in force and is guaranteed not to change unless your client makes a change to their policy.
The policy fee is guaranteed to remain at $8 per month.
Provides more in-depth details about the enhanced prosperity UL product to help guide conversations with your clients.
As of August 21, as part of a prosperity UL policy submitted with AppVantage, your clients now have access to Everest Concierge Services to help plan for and deal with a funeral.