5 Face Solve Types for FlexLife

Flexibility is a key characteristic of FlexLife Indexed Universal Life (IUL) insurance. That flexibility extends to the face solve types provided in our illustration software.

With the recent addition of the Protection Focus face solve type, you can now choose between five options. Which one you choose depends on the needs of your clients and goals of your clients.

1.       Protection Focus — NEW

• Provides death benefit coverage at a lower premium.
• Uses a blend of base face amount and APB.

2.       Minimum Death Benefit/ Max Cash Value

• Maximizes cash accumulation for a specific premium.
• Solves for the lowest death benefit while ensuring qualification as life insurance and not creating a Modified Endowment Contract (MEC).

3.       Balanced Death Benefit

• Balances cash value accumulation and death benefit protection based on premium chosen.
• Doesn’t use APB.

4.       Based on Target Premium

• Calculates the face amount based on ensuring that the target premium is equal to the specified premium amount.
• Target premium varies based on factors like death benefit, age, rate class, and gender.

5.       None

If you select None as the Face Solve Type, you still have opportunities to tailor the policy to the needs of your clients, using the dropdown under Type.

Specify Face Amount (default)

• Determine the initial face amount using the Face Amount type field.

Based on Minimum Premium

• Solves for the largest death benefit that allows you to keep the Death Benefit Protection Period (DBPR) in effect. DBPR should be turned on for this solve.

Based on Cash Value

• Calculates face amount using desired premium amount and future cash value goals.

Choosing the right death benefit illustration solve

• With five types to choose from, including the new Protection Focus solve, you can align the policy with the financial goals of your clients.
  • Death benefit with a lower premium: Protection Focus 
  • Highest cash value possible: Minimum DB/Max Cash Value
  • Balance of cash value and death benefit based on premium: Balanced DB
  • If your goal as an agent is to ensure that the target premium is equal to the specified premium amount, choose Based on Target Premium.
  • More flexibility in the case design: None