20 Pay Whole Life Products in Kentucky

[Lloyds of Lubbock]

Look at the comdex of Penn and Mass and others vs Ohio.
Regardless of the illustration...who do you want for the rest of your life?

 

[DHK]

I've never heard of a client bringing up "comdex ratings" being a deciding factor.

Of course, we're all just comparing illustrations, and we don't know who is going to have the best product or performance... 10 years from now.

 

[Lloyds of Lubbock]

No clients don't bring it up, but I have choice as an agent of what to present.
So if I am looking to protect my client 10-20-30 years down the road, that comdex Rating is important to me.
This is my opinion take it for what it is worth, I understand your new position promotes Ohio.
I wish you good luck and I hope they pull out of their troubles, I know people in their home office and have had pleasant sdealings with them in the past.
Everybody stay safe!

 

[DHK]

No clients don't bring it up, but I have choice as an agent of what to present.
So if I am looking to protect my client 10-20-30 years down the road, that comdex Rating is important to me.
This is my opinion take it for what it is worth, I understand your new position promotes Ohio.
I wish you good luck and I hope they pull out of their troubles, I know people in their home office and have had pleasant dealings with them in the past.
Everybody stay safe!

Fair enough.

Last week, we did hear directly from "Doc" Huffman during our 2-day online quarterly meeting, and one of our members asked about the comdex score. It was simply dismissed because Ohio is essentially "doubling down" on what they do best with - and the comdex is looking for certain things that they're just not interested in doing. I'm paraphrasing, but that's essentially what was discussed.

Although I do understand they're coming out with a fixed index annuity later this year? So I wonder what that news will do once that's announced.

 

[pfg1]

Depending on the focus of the sale, Ohio National might not be a bad option. The current financial problem they are in concerning the bath they are taking on annuities isn't great, but I suspect they'll continue to hold dividend performance as high as a they can for whole life insurance.

Smaller death benefit focused sales will likely be fine and most of those potential buyer are unlikely to care much about squeezing out a few hundred (maybe thousand) dollars more on a meticulously designed whole life policy from the likes of Penn Mutual, MassMutual, Guardian, etc.

The PPGA approach to contracting could be helpful, and they tend to turn around new business rather quickly. I would have a back up to them if you think you're going to handle a lot of $1mm plus death benefit cases or sales where the client is specifically looking to overfund a policy for supplemental retirement income.

I understand what you are saying, however my experience working with them is they have gotten increasingly harder to deal with than many other carriers. I've done quite a few cases with them, and over the past 3-4 few years they nit pick everything it seems.
As far as the little bit extra on the income, I personally don't think 35-40% is a little bit. On a recent case of mine, it was about $8k/yr more income with Penn than what ON would have provided, on a relatively small policy (<$400k policy - $1k/mo pay to 65 /20yrs).

To each his own, and I understand that some folks are promoting who they work for/with. Carriers and agencies also have to promote a positive spin on their company and products always, however if you step back and look at it without bias, the numbers speak for themselves. What I've seen, the reps that do massive volume by recruiting reps under them or splitting cases and pushing through huge volumes to get the highest payouts, they have alot to lose so they spin their company/product as the best, regardless. This is with WL or IUL focused agencies.

As an indy, I prefer to sell what is best for my clients and easiest for me to get placed. Certainly ratings and financial strength are important, but I will agree that there is a little more to it than just that. I've been to many of the home offices. ON has great folks and as I said... I like them. I hope they pull out of it.

 

[BNTRS]

back on the forum for good .. or are you going back to lurking?

Hahahah! Not so much lurking...more forgetting to stop by here.