Do I Need Any Additional License(s) to Sell EIUL?

[vegas1ne]

I currently hold my Life/Health, but with EIUL being an investment product I am not certain if I would require an additional license like a series 6, 7, 63, or 65. Thanks in advance for any help.

 

[souldeux]

No. Your life license will cover indexed UL products just like it'll cover term life and normal UL. Some carriers (North American springs to mind) have a brief "certification course" that you will need to take, but they're five minutes long. You don't need any extra licenses or anything like that.

 

[vegas1ne]

Great, thanks for the info. I'm guessing I also have to up my E&O right?

 

[DHK]

EIUL is NOT an investment product. It has a different way of crediting INTEREST based on stock market performance, but there is NO MARKET RISK to the cash values in the account.

Better learn about your product before you sell it.

 

[arnguy]

Maybe a license to carry depending upon where you live.

 

[souldeux]

EIUL is NOT an investment product. It has a different way of crediting INTEREST based on stock market performance, but there is NO MARKET RISK to the cash values in the account.

Better learn about your product before you sell it.

This is an excellent point. The gains inside an EIUL are "interest gains tied to the performance of a market index," NOT "market gains."

And yes, I can't think of any carrier that has an indexed UL product that doesn't require E&O.