Indexed Universal Life

FinalExpenseGirl

New Member
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Can anyone recommend the TOP companies for Indexed Universal Life? I have a couple who wants a mortgage protection product, but also wants their policy to accumulate cash value. Face Amount $100k, husband is 49 and the wife is 40.

I am already contracted with MoO, but their Mortgage Life product is term... and my client is not interested in term.

Any help would be appreciated.

Thank you.
 
Can anyone recommend the TOP companies for Indexed Universal Life? I have a couple who wants a mortgage protection product, but also wants their policy to accumulate cash value. Face Amount $100k, husband is 49 and the wife is 40.

I am already contracted with MoO, but their Mortgage Life product is term... and my client is not interested in term.

Any help would be appreciated.

Thank you.

What is their budget? When do they want to access the cash? Do they want coverage after they access the cash? Do they plan/want to pay premiums after he retires?
 
It sounds like they want to have the mortgage covered and use the insurance as an investment/retirement vehicle to build cash value.

If they're trying to make sure the mortgage is covered in the event of one or both of their deaths, why not buy term for the amount of the mortgage they are trying to cover and set up a second policy as a UL or WL to build the cash value that they want (and provide extra benefit coverage). Remember, the cash value is only useful if they're alive. If they die, the cash value is useless because the carrier takes it back and pays out the death benefit (less any outstanding loans on it). So setting up two policies may be more beneficial for them as it would meet their coverage needs and save them the most money.

...just a thought. But if they want to spend the extra money for the added length of the coverage to build a higher amount of cash value, then that's their choice :yes:
 
Look for the cheapest cost structure over the mortgage period. North American is great(or Midland National), Penn, LSW and Minnesota Life would be the cheaper cost structures with best accompanying caps/policy provisions. Written tons of these - let me know if you need any more guidance.
 
Great... Thank you so much everyone! Greatly appreciated!
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Their budget is right about $200 month. They want to access the cash in about 10-15 years, and they still want the death benefit to be in tact.
 
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Great... Thank you so much everyone! Greatly appreciated!
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Their budget is right about $200 month. They want to access the cash in about 10-15 years, and they still want the death benefit to be in tact.

How is their risk tolerance? Do they want the premium and death benefit guaranteed?

You can do the life insurance part easily with that budget. I do not think you have enough premium to have any kind of significant cash value in 10-15 years. Certainly not enough to take out and still maintain the death benefit.

Just my two cents.
 
I like the Global Indices options from ING and American General.
 
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