I hadn't seen much of NML until I moved to Wisconsin - granted it is their backyard.
Does anyonerun across them very often? I would like to talk about their policies.
It seems that I am running across newer agents; they are using a lot of "vanishing premium" presentations to sell policies.
Specifically, I am working on a situation where a prospect has had an Adjustable Comp Life for 7 years. He had a new NML agent bring him an inforce illustration during an appointment to discuss not paying premiums anymore. A couple of things concerned me as the prospect allowed me to look over the ledger and the notes he had written on them during that meeting:
1. NML agent only provided 1 page of the illustration (the non-guaranteed ledger). Left out the other pages.
2. The premium for the term portion is only guaranteed for 7 years evidently.
3. Ledger clearly states that it assumes a 5.15% dividend rate. Agent told prospect it is currently 6.15%.
4. On the cash value column, prospect wrote that the agent said it is currently growing at 6.15%.
Does anyonerun across them very often? I would like to talk about their policies.
It seems that I am running across newer agents; they are using a lot of "vanishing premium" presentations to sell policies.
Specifically, I am working on a situation where a prospect has had an Adjustable Comp Life for 7 years. He had a new NML agent bring him an inforce illustration during an appointment to discuss not paying premiums anymore. A couple of things concerned me as the prospect allowed me to look over the ledger and the notes he had written on them during that meeting:
1. NML agent only provided 1 page of the illustration (the non-guaranteed ledger). Left out the other pages.
2. The premium for the term portion is only guaranteed for 7 years evidently.
3. Ledger clearly states that it assumes a 5.15% dividend rate. Agent told prospect it is currently 6.15%.
4. On the cash value column, prospect wrote that the agent said it is currently growing at 6.15%.