Has anyone heard news of AXA or anyone else pulling the plug on their no-lapse life products? If so, do you know why? I would assume, obviously, because they're not making money, or are predicting not to make money based on premiums which were too low versus longer life expectancies. What do you think?
Rick Bryan New York, NY
RickBryan.com AdvisorsCafe.com
I'd guess that many people do not know what a "no-lapse guaranteed unversal life" insurance policy is. Can you define it?
Here are a few links to informative articles, FYI. It's been a "home run" product for the last five years, offering the lifetime coverage of whole life, with premiums closer to what a term policy would cost. Most of the contracts which have been brought to me by agents and their clients (for review and inclusion in estate, tax and business planning) have been no-lapse guaranteed UL policies. One of the agents told me "by the way" the other day, that AXA and someone else; I forget who, were pulling out of the market. And I can't confirm this news, or rumour, as the case may be.
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