ANICO Drops Interest Rate on Executive UL

[AboutThatLife]

They dropped the interest rates this month on several products. The one I was concerned about was the Executive UL. I really liked it.

Seems they are focusing more on their IUL's because those have stayed at 4%.

The new interest rate is 3.75% for those wondering.

 

[EAJoe]

They dropped the interest rates this month on several products. The one I was concerned about was the Executive UL. I really liked it.

Seems they are focusing more on their IUL's because those have stayed at 4%.

The new interest rate is 3.75% for those wondering.

Out of curiosity, why would you be writing the Executive UL when they have the Signature GUL available? If your client needs a permanent policy and isn't concerned about cash value, the GUL is a far superior product with it's cash out option and living benefits. If they want a product with the potential for cash value accumulation, it would be tough to argue that the Executive UL is a better solution than either of their IUL products.

 

[BYSFG]

Out of curiosity, why would you be writing the Executive UL when they have the Signature GUL available? If your client needs a permanent policy and isn't concerned about cash value, the GUL is a far superior product with it's cash out option and living benefits. If they want a product with the potential for cash value accumulation, it would be tough to argue that the Executive UL is a better solution than either of their IUL products.

I suppose it depends. ANICO from my experience with their Exec. UL has a higher table. Suppose it would be a last ditch product sort to say.

 

[EAJoe]

I suppose it depends. ANICO from my experience with their Exec. UL has a higher table. Suppose it would be a last ditch product sort to say.

With the Signature GUL they do express underwriting for standard ratings on face amounts up to $250,000, which means no paramed/blood/urine, just a phone interview, MVR, MIB, and RX database checks and they can typically make an offer within 72 hours. If you're looking for a good carrier on hard to place cases, Lincoln will typically issue Table1/Table2 as standard for permanent policies under their table shave program. I got a 45 year old guy who had a minor stroke (TIA) less than a year prior to issue issued at standard for $5 million with this program. Lincoln also has very competitive rates for their GUL.

 

[AboutThatLife]

Out of curiosity, why would you be writing the Executive UL when they have the Signature GUL available? If your client needs a permanent policy and isn't concerned about cash value, the GUL is a far superior product with it's cash out option and living benefits. If they want a product with the potential for cash value accumulation, it would be tough to argue that the Executive UL is a better solution than either of their IUL products.

Stronger guarantees than the IUL. Very good point with the GUL. Thank you.