Life Insurance Sustainability Testing Solves the Illustration Dilemma
You’ve misplaced your crystal ball! How else can you get a realistic view of the future? The seller (and buyer) of a current assumption life insurance policy will find Stochastic Analysis the next best approach to setting client policy expectations. Also known as “Monte Carlo” analysis, it can complement the producer’s and the client’s understanding of the dynamics of flexible premium products – especially VUL and IUL. Insurance companies use similar tools to estimate profits expected from new products, but the tools are not offered to insurance buyers for realistic insight about how their policies are likely to work. To get this help, there is now LISA – Life Insurance Sustainability Analytics – designed especially for producers and planners to test IUL and VUL illustrations with volatility analysis that assigns probabilities to life insurance outcomes. To our knowledge, it is the only toolset of its kind commercially available, and it is a game changer…
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Written by the Life Insurance Analytics team.