MM vs NWM

[Allen Trent]

But most conversions are looking to maximize DB per dollar of premium. That means GUL or a protection focused WL

Agree with your premise & had always felt the same, especially for the uninsurable or table rated.

However, in the last 2 weeks We have assisted agents in converting term to max funded WL. This week was 1M existing term into a 33k per year premium of which 7k was the base WL, 2k was a term rider $ 24k per year into the PUAR. While the initial face amount is 550k, the PUAR each year adds about 50k+

While a pure GUL or protection only WL would have paid about 4x the commission, the client was looking more at max funding. I like that the product lets the client decide if they want bare min protection or design for best performance

 

[LWilliams]

JMO - Not certain if you have made a decision as to which way to go, but either one is a far cry from PFS... as their concepts are completely-completely different. With respect to mutual WL carriers, most of them generally have limited access to alternative carrier products not their own (often with a reduction in comp), they generally offer higher comp, incentives to sell their own brand. The fact is, that while you can (kind of) meet the needs of a particular client with one carrier's product, and you may even receive better renewal comp (valuable if you go the distance), being independent is truly the one way that offers you the most flexibility to help your clients. I also encourage an independent mentor / coach to help kick start your business and generally from outside of the ranks of any company. Either way, wish ya the best.

Thank you!