Term With Living Benefits

[VolAgent]

Of course not, a DI policy might actually have to pay.

But no one is stopping you. Buy whatever floats your boat, its your money.

 

[0b1kanobee]

I have looked at the Western Reserve product about a year ago around the time I was considering Brokers Alliance.
They pushed the Western product very hard at that time.
But the nagging question in my mind would be how diffcult would it be to collect on some of the living benefits?

Shooter

Well I'm sure there are some stipulations just like anything else. What they are, I don't know for sure but that is a good question. I know the general overall aspect but it would be good to examine the policy thoroughly.

As an example: I was looking at an annuity recently with LTC benefits and in order to exercise the LTC benefits, the annuitant had to be taking income from the rider first. If they were not taking income and then needed LTC and turned on the income, the LTC would not be collected which was double the income rider amount.

 

[benpkwy]

It's not difficult at all. I know of cases with agla where the insured got paid a lot of money. I knew of a case of a woman who had $300,000 of life insurance. She came down with cancer 3 months into the policy. Agla converted her whole policy for $286,000 in cash.

 

[Cornelius]

Here's a product brochure I ran across after doing a search. I have no clue if it's current or not.

http://search.yahoo.com/r/_ylt=A0oG...=1316602927/**http://simon888.com/pdf/QOL.pdf

 

[Jim Jenkins]

[quote=VolAgent;439225]Of course not, a DI policy might actually have to pay.

But no one is stopping you. Buy whatever floats your boat, its your money.[/quote]


Why do you make stupid posts?

 

[0b1kanobee]

[quote=VolAgent;439225]Of course not, a DI policy might actually have to pay.

But no one is stopping you. Buy whatever floats your boat, its your money.

Why do you make stupid posts?[/QUOTE]

The only thing I can figure is:

1) Maybe he is captive agent and can't sell this product?
2) Maybe he has it in his mind that these types of products don't
work and you have to have a standalone product or nothing?
3) He only knows certain products and carriers and bashes anything and everything else?
4) He likes to put all his business in a few products?
5) He has been brainwashed?
6) Fear of competition?
7) He just likes to argue or debate?
8) He likes to play the Devil's advocate?

 

[VolAgent]

If you guys like to fall for marketing hype, knock yourselves out.

I haven't gone to WRL to get their software to illustrate it, so I'll just take everyone's word that it only costs a few dollars more than traditional term. If so, that should tell you everything you need to know. It has basically no actuarial value. Ob1, you seem to focus on the annuity market. I thought you would have figured it out by now, most of these things are just marketing sizzle, little real value to it.

 

[Chuckles21]

If you guys like to fall for marketing hype, knock yourselves out.

I haven't gone to WRL to get their software to illustrate it, so I'll just take everyone's word that it only costs a few dollars more than traditional term. If so, that should tell you everything you need to know. It has basically no actuarial value. Ob1, you seem to focus on the annuity market. I thought you would have figured it out by now, most of these things are just marketing sizzle, little real value to it.

This is my gut feeling as well, but I will admit I don't understand how the benefit works. Could someone with some experience/knowledge with this product give me a quick rundown of the requirements that need to be met to access the cash and all other pertinent information in how they work?

Thanks in advance.

 

[0b1kanobee]

If you guys like to fall for marketing hype, knock yourselves out.

I haven't gone to WRL to get their software to illustrate it, so I'll just take everyone's word that it only costs a few dollars more than traditional term. If so, that should tell you everything you need to know. It has basically no actuarial value. Ob1, you seem to focus on the annuity market. I thought you would have figured it out by now, most of these things are just marketing sizzle, little real value to it.

If features had no real value and were just sizzle then why do they periodically adjust them? Sure some of these things are downright ridiculous like 35% bonuses and whatever else is out there but when they come out and make income rider adjustments, death benefit adjustments ect. then you have to look at it and ask yourself why. I do and it's not always because of marketing. Real values are effected with certain products.

I refuse to paint with a large brush and just say it's all about marketing. Not till I know how, when and why it works or doesn't. You could be right, it could be a bogus product. My verdict isn't in yet and I'll have an open mind till I make my mind up. I still have questions and concerns like some of the others.

I also don't latch onto one product. I figure out what I need to offer and if it fits the bill or not. I'm not the guy who will go around saying this type of term is the only type you should buy. That's just not me.

 

[VolAgent]

If features had no real value and were just sizzle then why do they periodically adjust them? Sure some of these things are downright ridiculous like 35% bonuses and whatever else is out there but when they come out and make income rider adjustments, death benefit adjustments ect. then you have to look at it and ask yourself why. I do and it's not always because of marketing. Real values are effected with certain products.

I refuse to paint with a large brush and just say it's all about marketing. Not till I know how, when and why it works or doesn't. You could be right, it could be a bogus product. My verdict isn't in yet and I'll have an open mind till I make my mind up. I still have questions and concerns like some of the others.

I also don't latch onto one product. I figure out what I need to offer and if it fits the bill or not. I'm not the guy who will go around saying this type of term is the only type you should buy. That's just not me.

You are right, mistakes get made all the time. Look at annuity riders. I don't pay as much attention as I did, but there certainly was a trend of them being less rich and with higher expenses. Perhaps that is the case here, but I doubt it. My gut says that this is pretty similar to the AGLA product. No real value to it, except to confuse the consumer and make them think they got more than they really did.