Why I didn't deliver two IULs last week

By Katherine Vessenes

Vestment Advisors


Last week, I met with a lovely couple and had two indexed universal life policies (IULs) for them — ready to deliver. I decided to postpone delivery. Why? I didn't feel like we had spent enough time going over the pros, the cons, the ins and the outs of this product. I wasn't convinced they understood enough to make a good decision. So, I pushed it off until our next meeting.

Our experience has taught us that it takes about three different meetings to review an IUL. Even though we go through the same disclosures, I want to make sure the client clearly understands what they are getting into.

Lessons learned from the UL glory days of the 1980s: Some of those products were great (I still have two), but they weren't sold properly. It is vital to manage a client's expectations and let them know what can go right with a product, but what can happen in a bad market, too.