Minnesota Life IUL'S

[DHK]

Perfect. Thank you! Yes, I place a huge value on disability waiver of premium & having premiums credited. It was part of my LEAP training, and it's a great selling point to families to know that even in disability, your plan will still self-complete.


In California, I have an issue with Midland / NA because they don't even offer a minimal disability waiver of charges... currently. They also had a stipulated premium waiver, but it was limited to $500/month.

They suspended both of these in October last year and haven't reinstated them yet for California.

If you're in New York, California, or Florida, you will generally have to do more digging to find the policies that you like. Most of the other states are generally identical, from what I can gather.


As far as income illustrations... well, since IUL illustrations will be getting an overhaul, I wouldn't place too much emphasis on illustrations in terms of policy performance or anticipated income projections.

 

[scottstreet]

DHK, Not sure about california state specific rules, but Lincoln, Voya, Aviva, Hancock, Axia are all using waiver of specified premium. In particular Lincoln is of note as they are more lax on folks with health issues.

 

[scagnt83]

I'm currently contracted with NA and Allianz and Lincoln Financial and I want to make sure that I am doing no harm to my customers.

Those are the only 3 carriers you need for IUL. And are by far the top 3.

If Disability Waiver is important, then use LFG.
If low or no surrender charges are important go with NA.
If UW is an issue go with LFG.

 

[scottstreet]

That.^^^ (need characters)

 

[Mehler91]

DHK,

VERY interesting thread on Producers Web. Thank you for pointing it out. 2 questions for you if you don't mind:

1) you said that you had trouble finding in IUL with a "Disability waiver of Stipulated Premiums." Have you since found one that has that feature?

Much obliged from a 3 yr newbie.

Warmest Regards,
KTMorgan

just an fyi, Penn Mutual offers this, it is their disability completion benefit rider.