- 15,041
This is generally just pure marketing BS to make it sound better and that you are special when you and 1 million of your closest friends are given the opportunity to contract for it.
Indexed Universal Life
- Thread starter axeman462
- Start date
This is generally just pure marketing BS to make it sound better and that you are special when you and 1 million of your closest friends are given the opportunity to contract for it.
- 2,455
From what I recently saw with ANICO, I was impressed. I'll be looking to pick up a contract with them. I think Rick at TGP is a big ANICO guy.
- 8,707
0b1kanobee said:
I like ANICO but thier underwriting express for Death Benefits under 250k mean your client at best can recieve only standard under 250k in death benefit which can be an issue when cash value not death benefit is important.
- 10,311
Isnt that just on their term express product? Last time I checked they had a regular fully underwritten term as well. But I havent looked in a while.
- 2,455
I thought the same thing so I'm hoping Norway let that slip. If that's not the case I can see where he is coming from. I'm not contracted yet so if you find out please share.
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scagnt83 said:
Everything 250k and under is issued underwriting express and the only options are standard and rated policies. Now ANICO has some figures that preferred over standard is a small dollar amount and as an agent we are better served by underwriting express and for death benefit centered cases 250k is not very high but for a client who wants to max fund a IUL the fact that DB does not exceed 250k so they only get standard can make a difference.
- 1,459
For cash accumulation, standard versus preferred should not make a difference as it's the same MEC ratio (correct me if I am wrong). But the death benefit would be slightly lower for a given premium.
- 10,311
It makes a difference because it affects the COI. And with a higher COI there is less $$ to go towards the CV.
- 1,459
Sounds like I am more ignorant here then I realized. I always thought if the COI was higher, more premium dollars could be put in so he corridor remains the same. Sound like that is not the case? The death benefit determines the corridor, not the COI?
- 10,311
If you run an overfunded UL (or WL) at Standard, and then run it at Preferred, you will see higher CV on the Preferred Illustration.
I explain the MEC more as a limit. A simplistic explanation would be that the CV to DB ratio cant be higher than a certain amount during the first 7 years.
I ran a LFG IUL at 45yo $10k/y solve for min DB, 20 pay.
There is a $320 difference in DB between Standard & Preferred.
But there is an $8k difference in CV in year 21 (Preferred having more).
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