Best IUL for College Planning .. Other Than Rapid Builder

[Justin Bilyj]

Honestly, it depends on the individual situation. I do like the 10 alot, but also use trad max funded. A 20 would work also... and could probably be perfect in some situations. Doesn't Mass have a good 20? Not sure who else does.

Yes they do, love their 10 pay tho. Can I ask you what variable in your mind warrants going with a limited pay vs traditional?

 

[pfg1]

If they can afford or want a larger premium, the limited pay can work well. Its also what does the client want to have happen with the policy, and when. Also considering what ins they and/or the kid(s) already have in force.

 

[jboussea]

Honestly, it depends on the individual situation. I do like the 10 alot, but also use trad max funded. A 20 would work also... and could probably be perfect in some situations. Doesn't Mass have a good 20? Not sure who else does.

What's the advantage of doing a 10 or 20 pay .. over a regular Par blended whole life .but you just set it up for a 10 or 20 year pay?.. doesn't that allow for more flexibility later on ..

Also what's the disadvantage for IUL over a short period of time?

 

[pfg1]

The shorter pay is great if that is what works for the client when considering their overall situation. Sometimes its not. I don't like to use IUL because of no guarantees, and most have high surrender charges.

 

[myinsurebiz]

NA has nice 10 pay. Symetra does too . . .

 

[Tahoe Ray]

NA has nice 10 pay. Symetra does too . . .

On which products?

 

[myinsurebiz]

On which products?

Gen 8 . . . Thoughts?

 

[jboussea]

The shorter pay is great if that is what works for the client when considering their overall situation. Sometimes its not. I don't like to use IUL because of no guarantees, and most have high surrender charges.

but there are guarantees .. def not as attractive as the whole life guarantees but it all depends on the risk tolerance of the client.. the tradeoff is potential of course. Regardless .. both options are less risky than a 529.

 

[Tahoe Ray]

Gen 8 . . . Thoughts?

Great GUL. Not good for college planning where the objective is either:

A) Save money in the life policy to fund college (10-20 pay scenarios)

B) MEC an IUL or WL for college aid purposes.

Gen 8 won't do either of these.

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both options are less risky than a 529.

Um..... how?

 

[myinsurebiz]

Great GUL. Not good for college planning where the objective is either:

A) Save money in the life policy to fund college (10-20 pay scenarios)

B) MEC an IUL or WL for college aid purposes.

Gen 8 won't do either of these.

I was just saying a good 10 or 20 pay. It seems to be that . . .

Am I wrong in my assumption?