M Financial partners with Pacific Life
Financial services design and distribution company M Financial and global insurer Pacific Life have leveraged Verisk ’s FAST platform to develop a new life insurance product with ‘flexible’ options and pre-configured tax rules designed exclusively for high-net-worth individuals.
The new product – a flexible-premium survivorship variable universal life (SVUL) policy – is the first of several planned rollouts.
“In developing this policy with FAST and Pacific Life, we’ve helped address some of the challenges that tax law can create for high-net-worth individuals. We’ve also created a platform on which further innovation can occur with compelling new offerings for a client base that needs flexible, thoughtfully designed insurance solutions. We now have the means to accelerate our speed to market with established carrier partners, a robust digital environment and a single interface to our back-end systems.” – Dave Kittredge, Vice President, Business Strategy Partner at M Financial.
The flexible-premium SVUL product, available exclusively through M Member Firms, is a second-to-die policy with benefits payable upon the survivor’s death. It offers a curated array of investment options, no surrender charge and an optional no-lapse guarantee optimized to life expectancy.
“The applications for FAST are vast, as our collaboration with M Financial and Pacific Life demonstrates. We come alongside insurers, distributors and industry trailblazers to help meet their biggest challenges at any point on the value chain.” – Tom Famularo, managing director at Verisk and co-founder of the FAST platform.