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What he's pointing out is the flexibility offered by UL has done in a fair number of policy holders over the years. Sometimes too much freedom is a bad thing, depending on the individual.
UL and WL Help!!
- Thread starter Jvick5
- Start date
- 10,337
Actually I think he means the rigidity of the Guarantees of a GUL... late premiums, loans, etc.
And the target premium has nothing to do with the Guarantees of a GUL. You just get paid off of target. The Guaranteed Premium is the one the client needs to pay.
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I would also add that you usually want to use Guideline Premium Testing (GPT) along with an Increasing DB.
And the target premium has nothing to do with the Guarantees of a GUL. You just get paid off of target. The Guaranteed Premium is the one the client needs to pay.
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I would also add that you usually want to use Guideline Premium Testing (GPT) along with an Increasing DB.
- 1,206
Yeah, that's what I was thinking he was referring to buy wanted to make sure. I am a FE guy and i have sold a few to people that don't think you highly of UL. I understand why but in the end it is usually thier fault for not being responsible.
If you are looking at overfunding a UL then I may also consider looking at a 10 or 20 pay Whole Life (depending on affordability). This is like overfunding a 100 pay but the policy is guaranteed paid up after the 10 or 20 years without the rising COI like the UL. Also, there are no premiums when the client is retired so he will not be paying into a policy when he is not technically earning income.
With that being said I don't think there is any real way anyone can give an accurate answer based on the information provided.
With that being said I don't think there is any real way anyone can give an accurate answer based on the information provided.
- 2,960
What are some good companies that offer 10 & 20 pay. I know Mon does.
- 29,506
Settlers Life...................
Mass, Guardian, Metlife...
- 136
Ohio National just released a 10 pay last week.
Mass has a good 10pay and 20pay. Guardian too. I think most have 20 pays now. I would definitely go with a Mutual like Mass though.
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The Metlife 10 pay is a good product. I think a Mass 20 pay edges their 20 pay.
