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Which is the best choice for Permanent Life Insurance?

Author: National Life

National Life has three different ways for you to offer your clients permanent life insurance protection. Each has a different combination of features which will appeal to clients with various insurance needs.

If you want complete flexibility, NL Universal Life/Flex Account is the best choice. If predictability is the main concern, then the guaranteed premiums of Guaranteed Universal Life may be more appropriate. Or, if inexpensive, no-frills permanent insurance is all that is required, then NL Term 100 is the ideal solution.

Check out the handy table below to examine the product features and determine which is best suited for you.

	NL UL/Flex Account	NL Guaranteed UL	NL Term 100
Description	Maximum flexibility, combining life insurance and tax advantaged investments	Fully guaranteed insurance, with some investment choices. Emphasis on simplicity	Low-cost permanent insurance
Policy Options	Single, JFTD,JLTD, JLTD charges to first death, JLTD on 3-5 lives	Single, JLTD	Single, JLTD
Protection Options	Level, Increasing, Minimized (Guaranteed Surrender Amounts not included)	Increasing (Guaranteed Surrender Amounts not included)	Increasing (Guaranteed Surrender Amounts not included)
COI Types	Level, Level 10, Level 15, YRT to Level, YRT	Guaranteed 100, Guaranteed 10, Guaranteed 15	Pay to 100, 10 Pay, 15 Pay
Bonus Plans	Performance, Guaranteed, No Bonus with reduced MERs and increased minimum guarantees	No Bonus with reduced MERs and increased minimum guarantees	None
Investment Options	Daily Interest Account, Guaranteed Interest Account, Market Index Accounts, Hedge Accounts	Daily Interest Accounts, Guaranteed Interest Accounts	Daily Interest Account
Optional Benefits	10 year renewable term, ACB, Accidental Death, Children’s Term, CPI, Fixed Index, Level Lifetime, Return of Premium, Return of Level Premium, Waiver of Premium	None	None
Surrender Charges	Standard-Percentage of Threshold Premium during the first 10 years, Investor-Percentage of account Value during first 9 years	Percentage of Threshold Premium during first 10 years	None
Guaranteed Surrender Amounts (GSA)	Available, starting in year 5 with Level 10/15 COI types and return of Level Premium benefit on surrender, lapse, reduction of coverage or termination of RLPB	Available, starting in year 5 with Guaranteed 10/15 COI types upon surrender, lapse or reduction in coverage	Available, starting in year 5 with 10/15 Pay COI types upon surrender, lapse or reduction in coverage
Early Death Benefit	Tax-free payout of Account Value on the first death. Available with JLTD.	Not Available	Not Available
Disability Benefit Payout	Tax-free payout of Cash Surrender Value upon disability of a life insured under the contract	Not Available	Not Available
Policy loans	Variable Rate loans, Investor Plus fixed spread loans	Variable rate loans available with Guaranteed 10/15 COI types after charges cease date. Cannot borrow against GSA.	Variable rate loans available with Guaranteed 10/15 Pay types after charges cease date. Cannot borrow against GSA.