The most popular theme in 2013 is strong frames of today markets. Today industry and service should fitting for becoming stronger law’s, moreover every product should access markets “natural selection”. Insurance services are not exception.
There is main regulation very actual for any product and service in 2013, it sounds “Flexible in the face of change”. Some of well-known life insurance policies are addicted to lose their positions, because of few important changes in insurance laws and their market positions. One of those insurance services is Guaranteed Universal Life, special coverage contracts with secondary paragraphs in case of death. GUL interest is falling down in society, because of expensive regular payments, and excessive requirements on the financial condition of client. National Association of Insurance Commissioners aggravates the situation around Universal Life insurance, approved Actuarial Guideline 38. Response on Actuarial Guideline 38 will be increasing of GUL payments.
American General Life companies vice president Mike Murphy offer his opinion about close future of Insurance Companies in 2013. He predicts a lot of problems for small companies up to leaving this business, but for large corporations with big budget changes in GUL policies will be harmless.
But experts in Insurance markets are predicting a new successor in this type of life coverage. This new celebrity is Indexed Universal Life most compliant product on insurance markets, it is important advantage of this product.
Besides of that Samuelson of The Life Product Review predict new type of life insurance many times more flexible than IUL’s, this expected product will combine all advantages of IUL, but will be selling as UL.
source: http://insurancenewsnet.com