The sixth step of the Nexus plan wizard is where you can add Indexed Universal Life Insurance (IULs) to your client's plan. You can add Standard IULs, Volatility Buffer IULs, or Guaranteed Income IULs.
If you are creating the client's Financial Profile, you will most likely be adding Actual Insurance (Insurance that the client currently has today). If you are creating a Proposal Plan, you may wish to add Planned Insurance (suggested Insurance that does not currently exist outside of Nexus). You can find out more about Actual vs. Planned Insurance here.
You can add as many IULs as you would like, there is no limit.
Once you have pressed the 'Set up New Insurance' button, the following modal will appear. This modal allows you to choose the Insurance Type that you would like to set up. The modal will also ask you to indicate if this is actual Insurance or planned Insurance.
After you press 'Confirm Selection' you will be able to enter the IULs details in the form below. You can choose the Insurance owner (the client or co-client), add a custom nickname for the IUL, and enter the IUL values. You can also add transfers to all IULs except for Guaranteed Income IULs. If you are adding planned Insurance, a transfer from a funding source will be required. Transfers are covered in detail here.
Once you have added all required Insurance and have made sure to properly save all entries, you can proceed to the next step using the 'Next' button. You can also press 'Exit Workflow' to either discard unsaved changes or save your changes and continue to create this plan at a later time.