The life insurance industry has increasingly focused on selling life insurance for accumulation rather than death benefit protection, as evidence by the wholesale shift in Universal Life sales from Guaranteed UL to Indexed UL. This shift has undoubtedly arrested a decline in overall industry sales, but at what cost? The cracks in the edifice are only now starting to show. Competing against other accumulation products - most notably, the $20 trillion investment company complex - is a losing endeavor. Our products zig while the rest of the asset management industry zags.