Better in 2023—More in 2024
At the close of almost every year I say to myself that the coming year can’t possibly be as challenging as this one. Fast forward to the end of the next year and…2023 was certainly no different. Rapidly rising interest rates helped improve portfolio yields for the first time in a long time. But those same rising interest rates made many financial service products more competitive as well. Add client concerns about inflation, the cost of housing and the economy in general and we saw a year where activity remained strong, but the money that clients were willing to put into life insurance declined.
We had some ups and we had some downs. We were reminded again that while nothing is ever quite as good as it seems, all is not lost. Sure there is uncertainty (when is there not?), but with that uncertainty comes opportunity. We can bring some certainty to an uncertain world by talking to clients about one thing that they’ll never have to worry about–a participating whole life policy. Whole life insurance provides certainty in premiums, certainty in cash values, certainty in death benefits and certainty in performance. Participating whole life provides certainty in premium. Whole life premiums are guaranteed and whole life policies come with non-forfeiture options that keep the policy in force if your client cannot pay their premium. Participating whole life provides certainty in cash values. Whole life policies not only provide guaranteed cash values that the client can access at any time for any reason, they also provide guaranteed cash value growth, every year. Participating whole life provides certainty in death benefits. Whole life death benefits are guaranteed. As long as your client pays the premium, the death benefit is guaranteed to stay in force regardless of changes in interest rates or the performance of a market index. Finally, participating whole life provides certainty in performance. With premiums, cash values and death benefits all guaranteed, your client knows exactly what they will have today, tomorrow and every day. In fact, the only way your client’s policy can change is if the company pays a dividend, and then it changes for the better! If your client elects to have dividends purchase paid up additions, which many clients do, the result is an increase in the guaranteed cash value and the guaranteed death benefit. Those increases are guaranteed for life!
Whole life can be a valuable part of any financial plan because of the certainty that it provides regardless of the uncertainty they might be experiencing in the rest of their financial world. Ensuring that clients hear this message is our challenge, so we can never stop trying to make our products better and easier to access for our clients and for our agents. At Mutual Trust Life Solutions we continue to do just that, finishing 2023 on a high note with more to come in 2024.
We introduced a new and improved version of our flagship product, Horizon Value.TM One of the best early guaranteed cash value products in the market is now even more competitive across the board. Shortly after we announced our largest dividend scale increase in decades. Great news for agents and great news for clients! Heading into 2024, you have to take a look at Mutual Trust.
Strong guarantees and a competitive dividend–take a look at Mutual Trust.
Flexible solution that works well with all the major selling systems–take a look at Mutual Trust. True single premium whole life–take a look at Mutual Trust.
Competitive first-year and renewal commissions–take a look at Mutual Trust.
For participating whole life solutions you can trust, you have to take a look at Mutual Trust.
More in 2024
We start the year bigger, safer and stronger with the acquisition of Encova Life. The acquisition enhances our scale in the United States and brings $60 million in revenues, $600 million in assets, $38 million in premiums and 82,000 lives.
We will introduce our first indexed UL product in the first quarter of 2024. The performance is built into the product so agents can easily explain how the product works and clients can actually understand what they are buying. Also with Vista Life IUL, agents will be able to talk to clients about the benefits of IUL and whole life in their plan. Imagine, the upside potential of IUL combined with the guaranteed growth of whole life. That’s a compelling argument!
And it’s not just product that will change in 2024. We will introduce a new, web-based version of our illustration software, accessible from anywhere and complete with new reports and capabilities. We will also make improvements to our underwriting process which will help us to collect better information and eliminate some exams and reports that add time and make your job more difficult.
So, a couple of things to remember in 2024. Whole life can be a valuable part of any financial plan. For whole life, you have to take a look at Mutual Trust Life Solutions in 2024. Because life is uncertain, but whole life is guaranteed.[LC]
