GUARANTEED 2.45% 5 year return. Did I say guaranteed? Based on your definition of a CLU then I am sure he/she knows what that word means.
Why do insurance producers insist on using 'GUARANTEED', when what they mean to say is 'as long as we can pay it'. 'Gurarnteed', 'safety' and 'protections' are favorite marketing terms of the insurance industry that in reality, mean nothing except 'intent'.
And if a WL policy 'guarantees' a 2.12% return on a $100,000 single premium policy, why couldn't the policy attach to it the following schedule....
"The insurer guarantees that the cash surrender value of this policy will not be less than the amounts shown below at the completion of the year shown:
This represents the full value available to the insured. There will be no other charges, fees or other costs that will reduce the amounts shown"
And if the policy will provide higher returns due to higher market performance, then the above schedule would be rewritten with new future projected minimum surrender values at the start of each year.
Do insurance companies provide such written 'guarantee' schedules? If not, why not?