MetLife said among the various benefits offered by PAUL include access to more cash value faster than traditional life insurance policies, competitive cash value accumulation, and low surrender charges.
The product will be a non-correlated asset that eliminates the direct impact of market fluctuations from the client’s life insurance policy by growing policy values through interest crediting rates,less deductions for charges.
It will also include a new underwriting process for eligible clients, dubbed Enhanced Rate Plus. According tio MetLife, Enhanced Rate Plus can redice the time required for an underwriting decision, remove the need for paramedical exams and lab work, and enhance a qualifying client’s rating class.
MetLife added that PAUL will also provide financial professionals the potential to earn compensation through an asset trail based on the cash value.
MetLife retail life and disability insurance executive vice president Gene Lunman said: "PAUL was designed with our clients’ needs in mind, delivering the protection they want along with more cash value in the earlier years than traditional life insurance policies."
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