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Re: NY LIFEWholle Life which Column?
If you are looking at switching over, ask the agent to run a couple illustrations doing the same thing you are talking about (paying for 5 years, no further outside premium) and have him/her reduce the dividend projection by 10% and 20%.
Post your link that comes up with 3.87 just to make sure it is the correct thing to apply.
Keep in mind that prior histories, much like the stock market, can produce different numbers based on the day you look. In life insurance it could be the day you look, your age and your gender.
When you see a company tout "we're #1 in .." often there is small print somewhere that states "500,000 preferred class, 25 year old male." Understand that this same statement may be false at 250k, age 27, female....
Ask whom ever is showing you these quotes to come back with those reduced dividends. I'm going to assume you don't need to see a 110% dividend scale?
Hope you understand what I am saying as I have no dog in this hunt. I own NYLWL policies, but haven't worked for them going on 18 years and I received a settlement from them from a lawsuit filed against them (as an agent, not as an insured). So I think I know the company fairly well, admittedly haven't kept current on any new plans being offered. They're quality, which is why even pissed at them, going through approx. 5+ years in legal action with them, I never saw a reason to cancel the NYL policies I own.
One thing, my policies have a 4% guarantee, are the ones you're looking at 3% or 4%?
If you are looking at switching over, ask the agent to run a couple illustrations doing the same thing you are talking about (paying for 5 years, no further outside premium) and have him/her reduce the dividend projection by 10% and 20%.
Post your link that comes up with 3.87 just to make sure it is the correct thing to apply.
Keep in mind that prior histories, much like the stock market, can produce different numbers based on the day you look. In life insurance it could be the day you look, your age and your gender.
When you see a company tout "we're #1 in .." often there is small print somewhere that states "500,000 preferred class, 25 year old male." Understand that this same statement may be false at 250k, age 27, female....
Ask whom ever is showing you these quotes to come back with those reduced dividends. I'm going to assume you don't need to see a 110% dividend scale?
Hope you understand what I am saying as I have no dog in this hunt. I own NYLWL policies, but haven't worked for them going on 18 years and I received a settlement from them from a lawsuit filed against them (as an agent, not as an insured). So I think I know the company fairly well, admittedly haven't kept current on any new plans being offered. They're quality, which is why even pissed at them, going through approx. 5+ years in legal action with them, I never saw a reason to cancel the NYL policies I own.
One thing, my policies have a 4% guarantee, are the ones you're looking at 3% or 4%?