Best Competitor to MassMutual for Cash Value Growth and Borrowing Out of Policy Quickly

Have a prospect willing to quickly fund a whole life contract then borrow out to purchase land. Do not have a mass contract anymore and they don't pay brokers squat. Looked at Lafayette and their policy didn't look that great. Who would be comparable to Mass?

Sounds like a red flag for money laundering.

What didn't you like on the LaFayette policy?
 
The best competitor to Mass from a performance standpoint is Penn Mutual.

The best competitor from a ratings/stability standpoint is Guardian or NYL.

Both Mass and Penn are better WL contracts than Lafayette. Perhaps Lafayette has better UW... but a better rating does not always equal better performance against the competition.
 
The best competitor to Mass from a performance standpoint is Penn Mutual.

The best competitor from a ratings/stability standpoint is Guardian or NYL.

Both Mass and Penn are better WL contracts than Lafayette. Perhaps Lafayette has better UW... but a better rating does not always equal better performance against the competition.

isn't pen a little more forgiving with underwriting?
 
People can and do legally fund policies with alot of cash and borrow from them early on. Its not automatically a money laundering situation when someone does this, especially when its a planned strategy.

Now, if someone out of the blue that you don't know comes to you with this idea...I'd say it raises a red flag and needs thoroughly vetted.

To the OP... WL policies designed to do this are not going to perform quite as well long term as they would with traditional design/funding. They still do fine and the goal in designing something like this is access to the cash values early. Its a trade off.
Any policy that can add a term rider can design a larger funding capacity. What is best for the client...well that is not always a function of just the numbers on an illustration alone. Many moving parts and factors to consider.
 
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