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Reply to I'm Enrolling Myself in an IUL...     
Old 06-24-2017, 07:44 PM   #51
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I'm Enrolling Myself in an IUL... Re: I'm Enrolling Myself in an IUL...
Originally Posted by ATM View Post
I'm glad this popped back up. Still very happy with my Midland policy. Crediting terms are nearly as high as in 2011. I think my cap on renewal for S&P Pt to Pt last go around was 14 or 14.5%.

Just had an agent call me about a MN life policy he sold (against my recommendation) in 2012 or 2013 or somewhere around there. When sold their cap was 15% or something. Higher than about anyone else in the industry. Looked great when projected over a 55yr time line.

He looked at the clients renewal statement a couple weeks ago and their S&P pt to Pt strategy has a cap of 7.5% now. Half of what it was. I know any company can and will cut those caps/participation rates if they have which is why you have to find the companies that treat clients the best over time, protect their franchise, don't get caught up in what I call the scam areas of our business (412i, 419, STOLI, IOLI, buying business through underwriting concessions, etc).

It all gets paid for by policyholder and eventually agents too.

Do it right, sleep at night.

Are you sure this wasn't F&G ?? i have heard of them doing it but not Minnesota. Not that I've written up any Minn policies...

These companies livelihood depend on cash reserve. .. they want new business and sustained busines... so It's up to us refuse to write companies that have questionnable practice... only then will they fall in line.

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Originally Posted by MisterRandyWatson View Post
Lol.

Thanks, fam. Yeah, I got it taken care of...you know, just right before Obama's second term kicked off.

Thanks for checking in.
what company did you end up going with .. and how has the policy done for you..
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Old 06-27-2017, 10:18 AM   #52
ATM
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I'm Enrolling Myself in an IUL... Re: I'm Enrolling Myself in an IUL...
My agent told me it was Minn Life because he sold the policy but I cannot say for certain he wasn't mistaken. However, I would trust he had it correct.
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Old 06-27-2017, 11:06 AM   #53
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I'm Enrolling Myself in an IUL... Re: I'm Enrolling Myself in an IUL...
I have not heard great things about MLs renewal rates. I can confirm that Voya and Axa have not had the best renewal rates. Ive heard that LSW has not had great renewal rates, but its just second hand knowledge.

LFG, North American, Midland, Allianz & Penn Mutual all have very strong reputations for renewal rates (on IUL at least, NA kind of sucks with IAs).

This is something that often gets overlooked by agents, especially agents new to this product. A really high cap or participation rate means nothing if the carrier doesnt keep it at those levels. Quality and track records matter, not how flashy a product is or how many sales a product has.
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Last edited by scagnt83; 06-27-2017 at 12:22 PM.
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Old 06-28-2017, 10:41 PM   #54
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I'm Enrolling Myself in an IUL... Re: I'm Enrolling Myself in an IUL...
Originally Posted by scagnt83 View Post
I have not heard great things about MLs renewal rates. I can confirm that Voya and Axa have not had the best renewal rates. Ive heard that LSW has not had great renewal rates, but its just second hand knowledge.

LFG, North American, Midland, Allianz & Penn Mutual all have very strong reputations for renewal rates (on IUL at least, NA kind of sucks with IAs).

This is something that often gets overlooked by agents, especially agents new to this product. A really high cap or participation rate means nothing if the carrier doesnt keep it at those levels. Quality and track records matter, not how flashy a product is or how many sales a product has.
Yea this is so much more important than COI increase that the blogosphere tends to focus on.. THis is a classic Okie doke move.. I really thought it was rare but I would love to do some more research on other carriers. I subscribe to IUL DIgest and he only had F&G as a carrier who does this.
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Old 06-29-2017, 11:46 AM   #55
ATM
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I'm Enrolling Myself in an IUL... Re: I'm Enrolling Myself in an IUL...
I am meeting with this agent tomorrow. I will ask him to bring statement he was referencing so I can confirm.
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