Participating-whole-life insurance offers financial advantages that advisers must understand and explain to clients, writes Gene Lunman of MetLife. The product has higher premiums, but it can pay dividends based on insurer investment earnings, mortality experience and operating expenses, he writes. Advisers must be prepared to explain the impact of continued low interest rates on dividends but also to point out the living benefits provided by the product's accumulated cash value, Lunman writes.

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