SPWL - is anyone selling it? If so, which carriers?

[WinoBlues]

Rising rates help our products...it doesn't hurt them.



They do. A lot of what we do depends on if the client wants the option to get their money back at any time guaranteed. GUL won't do that. Several single premiums (National Western, Equitrust, Sagicor) do, but at the expense of a lower death benefit (and included tables).



It's not.

As memory serves, Sagicor was money back like first year if not day one.???

 

[Tahoe Ray]

As memory serves, Sagicor was money back like first year if not day one.???

So were the others I mentioned.

I do them as an annuity alternative and the money back makes it a lot more palatable.

 

[WinoBlues]

I am sure we all have those cases we did back when we did not know what we did not know.

I have one that pops into my mind every so often.
First year in the business. I was lucky to be on pace for convention early.

First Single Premium. Captive Mutual. I went to my managers for what to do. This was Mid 1980s. I do not recall if I was Series 6 yet or not. _The_ hot product at the time? UL. ""4% LOL, if the US ever gets that low we are all doomed"" We moved $80,000 into a SPUL. I went to convention and moved on shortly after. That is one has always stuck with me. One of the reasons Guarantees are so important to me.
If it is not Guaranteed, It isn't.

I also learned every shady way possible to replace business.

I decided to leave managers behind.

 

[WinoBlues]

So were the others I mentioned.

I do them as an annuity alternative and the money back makes it a lot more palatable.

I can see that as a good accumulation alternative. Especially for someone that is planning on leaving the money to someone but wants access just in case.

I have used SP as more of a UL CV rescue with an eye to maximizing the DB over the CV. Usually stacking a small permanent policy with the UL premium.

 

[Allen Trent]

I saw one a few months back from Illinois Mutual that looked pretty decent. SPWL.

lots of No lapse UL & IUL that can be solved for how much a single deposit will guarantee.

 

[WinoBlues]

Who are the low cost non med GULs right now that Sagicor is out?

 

[Life Hawk]

I do them as an annuity alternative

Great why to place these funds. Makes loads of sense in many cases.

"Mildred, if you purchase a SPWL, you can say good-bye to monthly premiums and spend that money on your grandkids while making sure you still have every thing covered when you expire. The great news is you don't have to spend extra income monies for the purchase, your just setting it aside."

"But Mildred you want to do it soon, because your expiration date is coming up soon."

 

[rousemark]

Back in the day, we wrote quite a few SPWLs on grandkids, Normally small premium amounts of $1000 or less. Not a lot of commission (seems the rate was 20%)

 

[WinoBlues]

Back in the day, we wrote quite a few SPWLs on grandkids, Normally small premium amounts of $1000 or less. Not a lot of commission (seems the rate was 20%)

One of the companies I work with still has those on the books. Many of the insureds are now the senior adult owners.

I have noticed that if they are still active they are believers in insurance. And tend to be good middle class prospects.

 

[Allen Trent]

Back in the day, we wrote quite a few SPWLs on grandkids, Normally small premium amounts of $1000 or less. Not a lot of commission (seems the rate was 20%)

most single deposit life with any reasonable performance for the consumer is nowhere near 20% anymore. Just like fixed annuity commissions & mutual funds have plummetted, you are likely looking at similar commission of 3-7%. much higher than that & the policy is being gouged for compensation in exchange for buying less face or paying little or no dividends to the owner