Best IUL 29 Yo Male, Preferred, Non-smoker, 100k/yr 15 Years

[scottstreet]

Homework for Bluefin- learn & understand the concept of "net amount at risk" and the impact it has on cost of insurance.

Anyone willing to bet against him deciding LSW is the choice?

 

[YourFamilyBank]

Thank you.

I appreciate the feedback.

I am looking for more exact comparisons of the products. Top 3 for cv year 10, year 20 @ 7% is. DB at year 10, year 20 is xyz.

But I do appreciate you going over the general stuff.

WL huge advantage is consistent cost of insurance vs IUL steadily increasing, which I still can't come to grips with. Obviously, greater upside, but also much higher cost.

Do any of you ever take a case like this and go 50/50 between WL and IUL? or never?

Yes sometimes we split between WL and IUL depending upon if they want to do planned borrowing against for a specific reason. We are doing one right now in underwriting that we are doing $120,000 year into WL and $240,000 into IUL. One for borrowing, one for income down the road.

NA is good, actually great, but I only see illustrations based on current #'s (I don't have their software) - we use Minnesota mostly and run them 1.5 pts below average for past 25 years index and then show income using 5% fixed indexed loan and they are tough to beat that way.

I don't mind showing you Minnesota if you don't already have someone running that one.

Let me know -

 

[pfg1]

Homework for Bluefin- learn & understand the concept of "net amount at risk" and the impact it has on cost of insurance.

Anyone willing to bet against him deciding LSW is the choice?

Curious why you think that scottstreet?


To the OP... I would certainly entertain splitting between WL and IUL. I would also share with the client what funding all the way to retirement will do for him, both on income and death benefit.

 

[scagnt83]

Curious why you think that scottstreet?

Why he thinks he will opt for LSW or why he thinks he needs to study Net Amount at Risk and how it affects COI?

I would guess he said that about LSW because they have a higher target than most and are pushed by the imo channels.

The net amount at risk because he thinks the WL will have a lower COI... and that is not true.
The WL uses CVAT testing which carries a higher COI than using GPT. CVAT is the mechanism through which the PUAs build the DB. The higher the possible DB, the higher the COI. GPT testing on a UL limits how much the DB can grow. Combine that with opt1 after premiums stop and it is the lowest COI possible on a permanent life policy.

 

[pfg1]

Why he thinks he will opt for LSW or why he thinks he needs to study Net Amount at Risk and how it affects COI?

I meant about using LSW

 

[Bluefin646]

Mn life already in the mix, ty Sir.

Yes, over-funding for longer period of time always results in preferred outcome.

However, everyone wants to know what it looks like after X amount of years. So I usually build that way first, and then show the longer funding options.

Thx for the post.

 

[Davidwfg]

$150/hr to plug a few numbers in, lol, now that is funny.

Not hard work at all, nor difficult.

Thanks, great forum here.

Send me a private message. .lets talk

 

[DHK]

Good luck with that.

 

[Clau]

The net amount at risk because he thinks the WL will have a lower COI... and that is not true.
The WL uses CVAT testing which carries a higher COI than using GPT. CVAT is the mechanism through which the PUAs build the DB. The higher the possible DB, the higher the COI. GPT testing on a UL limits how much the DB can grow. Combine that with opt1 after premiums stop and it is the lowest COI possible on a permanent life policy.

Scagnt83... Can you tell me where I can read more about this information you are giving. Is there a book, a study where I can look for information regarding this matter or is just plain experience.

People that sell wholelife policies blindly (and I say this because they are not open to sell anything else) say that the COI oon IUL cost more than WL. To me is difficult to understand how the insurer is giving you a guaranteed death benefit and not charging you for it... In IUL you do not have that kind of guarantees.

I am not biased on any of the policies, I love this blog because there are a lot people that know more than me.

Thank in advance you for the answers

 

[DHK]

This may help:

Guy Baker - The Box:
https://www.youtube.com/watch?v=7WUQYdpSbzE