The in-force illustration (IFI) is the current policy projection. The policyholder only receives an “annual statement,” which is the value on that day, not the forward projection. The original sales illustration was only a “hypothetical illustration,” not reality.

Request the In-Force

Request two in-force illustrations from the your insurance company. One paying all years, and the second one paying until age 67 (retirement age) since you don’t want outgoing premiums in retirement while on a fixed budget.

NOTE: On VULs I would use 5% or 6% as a rate of return, NOT the 8% your insurer will offer.

Your In-Force Illustration

When you (unfortunately) see the word “Lapse” or $0.00 in the death benefit columns, that means your policy is dead while you are alive. My research suggests this will occur to over 90% of universal life policyholders.

Note: The insurer is allowed to raise your internal costs from “current” to “guaranteed maximum,” which could cause an even earlier lapse. Don’t ignore those columns on the in-force illustration.


in-force illustration


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Group Universal Life (GUL) & Group Variable Universal Life (GVUL)

Group policyholders must request this report too.

NOTE: The policy will not show a lapse, but rather an outlay of rising future premiums. As a retiree, you will not be able to afford this and eventually cause you to cancel your policy.

Guaranteed Annual Universal Life (GAUL)

GAUL is thought of as a “permanent term” policy. When designed correctly to age 105 or 110 this is fine, but some are only designed to an age like 88 or 93. If you outlive the design, you could be in big trouble. Order the “in-force illustration” to ensure you don’t have this flawed design.


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