Who Has the Best Paying Whole Life Policy for Bank on Yourself ?

[Larry Tew]

I mostly agree BUT:

I am dubious of the ratings companies. How is it that Weiss has Banner and Sunlife as "D" rated companies that are among the ten worst among billion dollar plus life insurers yet Best's has them both as A+? Don't even get me started about the COMDEX. The big rating agencies, I believer, rely too much on the size of the company and not the profit margin, general account performance, and lapse rates.

Maybe, but with around 130 companies (last time I checked) Best's rated A+ or A++, why go lower? Your client may not ask or even be aware of a company's relative ratings, But I know.

 

[DHK]

I mostly agree BUT:

I am dubious of the ratings companies. How is it that Weiss has Banner and Sunlife as "D" rated companies that are among the ten worst among billion dollar plus life insurers yet Best's has them both as A+? Don't even get me started about the COMDEX. The big rating agencies, I believer, rely too much on the size of the company and not the profit margin, general account performance, and lapse rates.

Sure, I can agree with that. However, I'm not one to look at all of the company's books. In short, I look for attractive products and decent ratings that are covered by my E&O.

Weiss and Comdex? I really don't care. Perhaps I should, but I don't.

 

[BNTRS]

There really isn't a universally best as some carriers will work out better for people in different situations.

As far as Bank on Yourself et. al. hammering on NDR loans, it's marketing fluff. It's also not super necessarily to use whole life as it can be done with universal life insurance (probably not a great idea to use variable universal life insurance).

But if we're looking for a short list of companies (top three) for each category:

Whole Life

Penn Mutual, MassMutual, and Ohio National

Indexed Universal Life

Sammons (North American/Midland), Lincoln, and Penn Mutual

Current Assumption Universal Life

Sammons, Minnesota Life, and John Hancock

 

[heynow5]

However, 2 of the 3 companies you mentioned for whole life are NDR. MM and ON. So it's a win win