Life insurance: Do you know what to look for?

As carrier investment and employer interest in permanent life plans continue to grow, brokers who are comfortable with product nuances may win more business. (Image: Shutterstock)

Recent Eastbridge research has found that while just over half of carriers offer a universal life/whole life (UL/WL) product today, almost a quarter of carriers see UL/WL as a growth product for the industry over the next few years. In addition, UL/WL was the top product (tied with hospital indemnity) listed as most likely to be added to carriers’ voluntary portfolios in the next two years.

Despite carrier investment in developing and enhancing permanent life products, most brokers did not include UL/WL in their top five most frequently sold products. Our joint BenefitsPRO/Eastbridge survey found that four of the top five most frequently sold products are the same for benefit brokers and voluntary brokers. With such similar portfolios, learning more about permanent life options may be a point of differentiation with your employer clients.