According to a recent second quarter September report from Wink, universal life sales for the second quarter were over $1.1 billion; up 11.9% compared to the previous quarter. Universal life (UL) sales include fixed UL, indexed UL (IUL), and variable UL product sales.

IUL sales made up 65.6% of total universal life in second quarter at $747.2 million, up 12.0% compared with the previous quarter, and up 2.8% compared to the same period last year, per the Wink report. The top primary pricing objective for sales this quarter was Cash Accumulation, capturing 73.1% of sales. Indexed life sales include both indexed UL and indexed whole life.

Life insurance carriers also have noticed the interest and uptick in IUL products. Multiple carriers have started repricing their indexed universal life products, and some carriers are launching new or updated IUL products during the next couple of months.

AIP Marketing Alliance also has aligned with these IUL trends as our team has developed materials to support and train independent life insurance wholesalers and agents nationwide on selling this niche product. Our staff can share the new and updated IUL product information from AIPMA’s multiple carrier relationships as requested.

Who are potential clients and prospects for an IUL and the supplemental retirement income sales concept? You should target the following target audiences for this niche life insurance product.

• Small Business Owners
• Self-Employed/1099 Employees
• Doctors
• Attorneys
• Certified Public Accountants
• Psychiatrists
• Dentists
• Nurse Practitioners
• Salespeople
• Farmers

As a reminder, AIPMA also has created a set of three whitepapers focused on positioning indexed universal life with clients and prospects. The three PDFs include an Agent Sales Guide, Consumer Materials to promote IUL on social media and through email campaigns, and Preparing for Your Appointment (selling IUL).

The Agent Sales Guide consists of a generic IUL overview explaining the product offering and why IUL is getting traction in the market again. The Consumer Materials whitepaper has four compliance-approved email marketing campaigns and 10 social media posts with graphics to promote IUL on your selected social channels.

The Preparing for Your Appointment module includes an IUL hypothetical illustration to break down the differences between age groups and potential impact of waiting to purchase this type of life insurance. We also include a couple of conversation starters for consumers and business owners.

You can request the above whitepapers by emailing marketing@aipma.com. These modules also can be branded with your logo and contact information to distribute to your downline agents. You also can contact AIPMA’s Business Development team at (800) 783-5206 Press #2 for an illustration or to compare IUL products which may fit into your client’s retirement planning. They also can share some of the new products released by AIPMA’s contracted life insurance carriers.

Watch for a new IUL section on our website’s Agent Tools (and added to wholesalers’ recruiter portals) during Q4 as we continue to provide MORE in ’24 for our valued independent insurance wholesalers and agents. We’ll post an update once that launches before the end of the year.

For more than 40 years, AIP Marketing Alliance (AIPMA), an Integrity Company, serves as a premier life insurance and annuity distribution partner to provide full-service support to independent wholesalers, brokerages and agents from our Troy, Michigan office. NOT AFFILIATED WITH OR ENDORSED BY THE GOVERNMENT OR THE MEDICARE PROGRAM.

AIP Marketing Alliance is committed to MORE in ’24 as we are launching a bunch of new resources to support our independent insurance wholesalers and agents. Visit our blog on aipma.com to stay informed on these upcoming launches and learn why wholesalers nationwide choose AIPMA as their distributor for selling life insurance, annuities, long-term care insurance, final expense, and much more. Ask about our lead services, myAIP CRM platform with customizable recruiter portal, and online tools/resources designed to grow your business.

AIP Marketing Alliance, an Integrity Company, has developed this electronic communication for informational and educational use only. Be advised, AIP Marketing Alliance, Inc. does not provide legal advice, tax advice, or guidance on issues involving securities laws, insurance laws nor securities or insurance regulations. This material should not be relied on as providing any such advice or guidance to either agents or retail consumers. Within this communication, AIPMA shares links for usage as information only. This content should not be interpreted as solicitation to purchase life insurance, annuities, or other products or as advice designed to meet your clients’ specific needs. Content involving fiduciary, tax, or legal advice should be directed to your legal, tax, and financial professionals for specific advice or product recommendations. AIPMA will not accept any legal liability resulting from any use of 3rd party material(s).