The Basics
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NTM 05-50 |
IUL Rates |
Selling IUL |
Crediting Methods |
History |
Glossary
HISTORY
The First Indexed UL
The first Indexed Life product introduced was the TransDex 500, an Indexed UL that
was launched by Transamerica Occidental in January of 1997. Less than four years
later, Transamerica had exited the Indexed Life market with a total of only ten
carriers in the market at year-end 2000. However, with sales burgeoning on the ten-year
anniversary of Indexed Life, the carrier decided to re-enter the market with their
new design in January of 2007, TransIndex IUL. Four other insurance carriers have
made similar decisions to re-enter the market after pulling their Indexed Life product
as of the close of 2007.
Indexed Life Then vs. Now
Just one year after their introduction, sales of Indexed Life reached $64,717,446
at the close of 1998. A little less than a decade later, sales of the product had
increased nearly eight times 1998’s levels to a whopping $512,247,694 at the
end of 2007. Today, thirty-four carriers compete against one another in the Indexed
Life market. Not bad for a product that less than a decade old!