Gerber Grow Up

[smokin goose]

I had a lady ask me about this for her son. How does it work and is there something better that I can offer her?

 

[Gooner]

I had a lady ask me about this for her son. How does it work and is there something better that I can offer her?

Yes, offer her a paid up in 10 or 20 year policy. Sure it's nice that it doubles at 18, but it is a life pay product, if I'm not mistaken

 

[Lewis_FL]

It's non-par WL. Face doubles at 18, premium stays the same. Designed to endow at age 121. The only time you sell this is when someone asks for it. You can't illustrate it either. If I was getting something for a kid I'd probably go with something like MetLife.

 

[HoosierLife]

It's non-par WL. Face doubles at 18, premium stays the same. Designed to endow at age 121. The only time you sell this is when someone asks for it. You can't illustrate it either. If I was getting something for a kid I'd probably go with something like MetLife.

what would you recommend for an infant?

I have a little one on the way, I want to get either $25,000 or $50,000 paid up in 10 or 20 years.

 

[Newby]

It's non-par WL. Face doubles at 18, premium stays the same. Designed to endow at age 121. The only time you sell this is when someone asks for it. You can't illustrate it either. If I was getting something for a kid I'd probably go with something like MetLife.

Since MetLife isn't a mutual anymore are their dividend still competitive?

How would they compare with Lafayette, Ohio National or Guardian?

I just assume the non-mutual a have to pay stockholders and less dividend to go to the policy owners.

 

[Gooner]

what would you recommend for an infant? I have a little one on the way, I want to get either $25,000 or $50,000 paid up in 10 or 20 years.

Look at Mass Mutual

 

[smokin goose]

Dang, just checked the prices. They're pretty good. I'm assuming agents can't sell it?

 

[Lewis_FL]

Met's 2015 dividend is 5.10%, unchanged from 2014. Their products are more adaptable than Gerber. They do have 10 and 20 pay options. We don't have Lafayette, OH Nat, or Guardian but they're good carriers as is Mass Mutual. WL is pretty much set it and forget it. Although you will want to do the underwriting at 18 to get out of the Juvenile rate class. Another option is IUL. Some carriers automatically give kids Std+ right away.

 

[Gooner]

Met's 2015 dividend is 5.10%, unchanged from 2014. Their products are more adaptable than Gerber. They do have 10 and 20 pay options. We don't have Lafayette, OH Nat, or Guardian but they're good carriers as is Mass Mutual. WL is pretty much set it and forget it. Although you will want to do the underwriting at 18 to get out of the Juvenile rate class. Another option is IUL. Some carriers automatically give kids Std+ right away.

I don't have my kids policy in my hand, but I'm pretty sure I've got a 9 times GIO rider built in. That was a really nice feature.

 

[scagnt83]

Look at Mass Mutual

Ditto. Mass has great rates for kids and they have a broker contract through regional offices. Some IMOs offer them too but you will take a haircut on comp with most.

A 10 year old male is $28/m for a $25k 20pay policy with $50k GIO plus WP on the owner. It would have around a $50k DB around age 50.

The 10pay would be $38/m. It would have a $50k DB around age 45.

The pay to age 65 would be $22/m.

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I don't have my kids policy in my hand, but I'm pretty sure I've got a 9 times GIO rider built in. That was a really nice feature.

Currently Mass only allows 2x premium for the GIO.