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Executive UL Copy

Executive UL


Executive UL is an institutional purchase (employer paid) life insurance program on the lives of a distinct group of highly compensated employees without exception, delivered by the issuance of individual insurance policies, underwritten on a guarantee issue type basis.

[ key facts ]


Executive UL Copy

[ Highlights ]

Corporate Paid Program (not voluntary)

Guarantee Issue Type Program

– Eligibility: White Collar workers earning $100,000 or more

– Individual Current Assumption UL policies

– Ability to pay minimum premium (COIs only)

Minimum Premiums Rate Schedule Guaranteed for 5 years

– Minimum Death Benefit: $100,000

Maximum Death Benefit: $5,000,000

– One medically related question, Ages 18-70; Ages 71-80 additional questions

Portable without change to death benefit amount nor pricing

– Required Insured Lives: 25+

Formula to determine maximum death benefit on a case
Lives — 25-49: 40K per life (ex: 30 lives = $1,200,000)
Lives — 50+: 50K per life (ex: 50 lives = $2,500,000)

Minimum Annual Premiums: Year 1

Gender distinct; unismoke


Age 40 50 60
Male $641 $1,277 $3,257
Female $605 $1,145 $2,849

[ Sales Opportunities ]

Executive Sample Cases

Carve Out

A better model of coverage for employees

Accounting Firm

Employer had group term life for all employees. Carved out employees earning $100,000 or more (52). Benefit design: two (2) times salary to $1,000,000.

Portable without changes. No reductions at 65, 70, or 75. Group insurance rate reduced.

Create More Coverage

Obtaining more death benefit

Law Firm

The group term coverage could not deliver enough death benefit. Partners in the law firm (84).

Partners provided $5,000,000.

Replace Competitor Plan

Obtaining lower cost and better provisions


The hospital had a group variable universal life program. Confusing and an administration nightmare. 

Changed to Executive UL:

Added ExtendCare rider and premium still lower by 15% per year.

Corporate Needs

“Individual” Policy type allowed for Corporate Ownership

Investment Firm 

Fund their existing stock redemption plan.

Owner: Employer
Insured: Employee and Stockholder
Beneficiary: Employer

Able to insure a specific formula (up to a maximum of $1,800,000) to 36 employees. Able to provide for future benefit increases