Interest in life combo products spikes

[scagnt83]

Companies are charging 25-33% in top of the GUL premium for the 4% ADB rider.

Some are. Others put it on the policy for free now.

 

[ltcadviser]

Some are. Others put it on the policy for free now.

Then the GUL might be very overpriced, as many have become in this interest rate environment.

 

[bill3173]

i hear a lot of agents & even wholesalers use this swiss army knife terminology & many times the agent & client dont realize that the more they use 1 of the tools on the swiss army knife, they are also wearing down or eliminating the other tools in the swiss army knife. I hear agents sometime say you can use your hybrid accelerated death benefit for LTC costs & for death benefit & for supplemental retirement. That really isnt an accurate depiction as it is more fair to say "or" not "and". If I take distributions in my 60s to supplement retirement, I am also reducing the not only the cash value but also the death benefit & the Accelerated Death benefit for Chronic Illness. It wont be there for "LTC type expenses" if I have emptied the benefit from over using the other tools in the swiss army knife.

When I first started selling these policies, I thought they were great, but once I realized just how much the other purported benefits were being reduced, when used, I dropped them like like a pair of handcuffs.

If somebody wants an LTC or a DI policy, that's what they're going to get from me. I'll leave the combo products to the Car Salesmen of the life insurance world.

 

[ltcadviser]

I'll leave the combo products to the Car Salesmen of the life insurance world.

No one is a car salesman. The market has already moved and spoken, Bill.

You do you.

You will have a line out your door shorter than the line outside the Betamax salesman’s door.

 

[WinoBlues]

BUMP

 

[Allen Trent]

BUMP

 

[WinoBlues]

Who are the GUL and Term combo players in the middle family market?

GrassyAss in advance

 

[Tahoe Ray]

Who are the GUL and Term combo players in the middle family market?

GrassyAss in advance

For GUL: Nationwide, AIG, Pru, Lincoln, and most of the usual suspects.

Nationwide seems to be a "go to" both because of their pricing and the structure of their rider.

 

[scagnt83]

Who are the GUL and Term combo players in the middle family market?

GrassyAss in advance

Ameritas has Chronic with no permanent requirement on their Term and WL. The WL can compete with most any GUL. No extra charge for the Rider, only available down to T4. 50% of DB for Chronic, 25% for Critical, 90% for Terminal.

 

[scagnt83]

For GUL: Nationwide, AIG, Pru, Lincoln, and most of the usual suspects.

Nationwide seems to be a "go to" both because of their pricing and the structure of their rider.

LFG has one that does not require permanent impairment? Or did you mean MG?