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Whole life insurance is structured to guarantee policy premiums, cash values, and death benefits from the time of purchase until the time to file a death claim. For more than 200 years, whole life was not only the product of choice to assure lifetime bene- fits, it was essentially the only choice. This tradition was upended with the introduction in 1978 of universal life (UL). UL was the first product to break from up-front guarantees with an orientation depending on largely nonguaranteed elements. "Premiums" haven't been the same since. [ABSTRACT FROM AUTHOR]

Building on the July 2022 "In the Client's Best Interest" column in which an aspirational ethos was suggested for clearly addressing and meeting a client's expectations, this column examines in greater detail and scale of timing the agent's intentions and ability to meet a client's lifetime needs--and the ongoing management of their policies. Two guest columnists have joined the author to contribute to the content. [ABSTRACT FROM AUTHOR]