Personal Insurance Banking, Cash Value Life Insurance, Individual Banking

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The Dazzling Dozen: The overlooked and under-reported benefits and uses of participating cash value life insurance in the personal financial plans and economies of Americans.

For the past three decades or so the number of companies offering participating cash value life insurance contracts has declined. The decline did not occur because participating cash value life insurance was a bad product or because the companies that sell participating cash value life insurance are bad companies.

Quite the opposite is true.

The most respected companies in the insurance business – even today – are the mutual companies that sell highly effective participating cash value life insurance policies: Northwestern Mutual, Massachusetts Mutual, New York Life, The Guardian Life Insurance Company, Mutual Trust Life, and other companies that offer participating policies.

The decline was not the result of the failure of these companies to promote these products to their representatives; nor did it result from the failure of other mutual companies (Metropolitan, Prudential, John Hancock, and The Principal Financial Group as examples) to survive the onslaught of the EF Hutton universal life attack on the insurance industry and the A.L. Williams rape of mutual policies to extract their cash values to fund failed strategies.

The E.F. Hutton and A.L. Williams misadventures, however, contributed to the problem and led to the complete destruction of companies like Mutual Benefit Life, one of the oldest and most respected among the old line mutuals, and others that failed or fell to acquisition.

No. The decline came because the mutual life insurance industry adopted the thinking of Wall Street in lieu of the reality of main street; it failed to protect its deserved and revered position as the source of advice and products that Americans could rely on as a foundation for their financial security, the bed rock of their peace of mind, and the framework for their futures.

t’s time to reinstate what remains of the mutual life insurance industry – and perhaps motivate the formation of new mutual insurance businesses – as the leading voice for America’s financial thinking. It’s time to resurrect the use of participating cash value life insurance as an essential part of every American’s financial structure.

It’s time to drag Americans – kicking and screaming if necessary – out of the uncharted financial swamp created by the failures of the universal life experiments of the 80’s and 90’s and back onto the solid ground that only participating cash value life insurance provides.

The Dazzling Dozen addresses twelve compelling reasons why you should place participating cash value life insurance at the foundation of your financial house or, if you are an advisor, why you should present this class of product and these same reasons to your clients. This white paper outlines both the practices such policies support and the benefits of following those practices.

Do not let some Shibboleth that participating cash value life insurance is a bad place to put money hold you back from seeing and understanding the truth. There is no other financial product that is as powerful or as flexible as participating cash value life insurance. Denying this product and its capabilities to yourself – or to your clients if you are an advisor – is irresponsible at best.

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