Protective Life Insurance Company Receives Favorable Private Letter Ruling on Advisory VUL Offering
Protective Life Insurance Company (Protective), a subsidiary of Dai-ichi Life Holdings, Inc. (Dai-ichi, TSE:8750), announces the Private Letter Ruling (PLR) from the Internal Revenue Service (IRS) related to Protective’s fee-based advisory Variable Universal Life (VUL) offering.
- Protective Life Insurance Company (Protective), a subsidiary of Dai-ichi Life Holdings, Inc. (Dai-ichi, TSE:8750), announces the Private Letter Ruling (PLR) from the Internal Revenue Service (IRS) related to Protective’s fee-based advisory Variable Universal Life (VUL) offering.
- This ruling, an industry first for a life insurance product, was issued on July 17, 2023, by the IRS regarding Protective’s Investors Benefit Advisory VUL offering.
- “Having the first PLR issued for an advisory VUL offering shows Protective’s commitment to being an industry leader in fee-based insurance for Registered Investment Advisors (RIA),” said Chad Nulty, VP of Business Development for Protective’s RIA Insurance.
- The Protective Investors Benefit Advisory VUL offering is issued by Protective (Nashville, Tenn.) in all states except New York on policy form ICC19-V15 and state variations thereof.