- 558
I am an agent that does more work with Seniors than young people. I don't do a ton of life insurance. I know quite a bit about some stuff, but not others.
Help me analyze my policy. . .
Just got my statement in the mail yesterday:
Allianz Gendex Momentum
Started 8/2011
Standard N/T
Annual premium: $1144.80
$150,000 death benefit (don't worry, I have plenty of insurance. This is one of many policies I own. Gotta try them all!)
I haven't done anything with this policy since I got it.
My biggest concerns are the charges- is this in line with other Indexed UL's?
Cost of insurance $118.32 (Seems pretty cheap)
Expense Charge $495 (This seems like a lot- close to half of my net premium)
Asset based charge $10.20
Currently allocated 100% in the blended index monthly average. Which has a 155% participation rate and earned 10.67% last year. I can't complain about that part.
What are your thoughts? Bag it and redo somewhere else? change the allocation?
Thanks!
Help me analyze my policy. . .
Just got my statement in the mail yesterday:
Allianz Gendex Momentum
Started 8/2011
Standard N/T
Annual premium: $1144.80
$150,000 death benefit (don't worry, I have plenty of insurance. This is one of many policies I own. Gotta try them all!)
I haven't done anything with this policy since I got it.
My biggest concerns are the charges- is this in line with other Indexed UL's?
Cost of insurance $118.32 (Seems pretty cheap)
Expense Charge $495 (This seems like a lot- close to half of my net premium)
Asset based charge $10.20
Currently allocated 100% in the blended index monthly average. Which has a 155% participation rate and earned 10.67% last year. I can't complain about that part.
What are your thoughts? Bag it and redo somewhere else? change the allocation?
Thanks!