For Consultant Protector VUL Sample Clauses

The 'For Consultant Protector VUL' clause designates specific terms and conditions that apply to consultants acting as protectors in Variable Universal Life (VUL) insurance arrangements. This clause typically outlines the consultant's responsibilities, authority, and limitations in overseeing the VUL policy, such as monitoring policy performance or ensuring compliance with the policyholder's wishes. Its core function is to clearly define the consultant's role and protect the interests of all parties involved by preventing misunderstandings or disputes regarding the consultant's involvement in the VUL policy.
For Consultant Protector VUL. 1. Under Option A and B, the trail commission will be paid quarterly at a rate of .0525% for Option A, and .165% (Years 2-14) and .0525% (Years 15+) for Option B, respectively, of the net policy value for all Policies at least 15 months old. If neither Option A nor B is elected by the registered representative, compensation at all levels will be paid under Option A. 2. An increase in face amount after issue will result in an increase in target premium based on insured's attained age at time of increase.
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