Conversion Products

[agentjhc]

Transamerica v Prudential v Protective

Alright guys, what do you all think about the conversion products of Prudential, Transamerica, and Protective have available ?

 

[pdoyle]

Pru currently has great conversion options. (no telling what the future holds)
Protective sucks. UL product has very short guarantee and is expensive. If client is healthy... they will be much better off going through underwriting and purchasing elsewhere. Their current "term" potfolio is not true term and is not convertible. They can be exchanged though... weird.

 

[Lewis_FL]

For Transamerica:

The completelist of permanent products for term conversions within the first five policyyears is:

• TransACE® (Select class not available)
• TransACE® CV
• Accumulation UL
• Freedom Global IUL IISM
  (Preferred Elite class not available)
• Freedom Index Universal Life IISM
  (Preferred Elite class not available)

Guaranteed Whole Life (GWL)

Of these the IULs are ok, not great. The Accum UL and GWL are for small face amounts; nothing great there either. TransAce CV is GUL with supposedly better CV but goes to zero eventually. The regular TransAce GUL is not super competitive but does have a ROP feature.

 

[agentjhc]

So TA does allow conversion at anytime during the term period?

 

[Lewis_FL]

Yes. To the earlier of age 70 (75 for Preferred Plus) or the end of the level term period.

 

[VolAgent]

So TA does allow conversion at anytime during the term period?

I seem to recall that at one point, after 5 years you could only convert to a really bad current assumption UL. Hopefully that has changed.

 

[Lewis_FL]

Well looks like that may still be the case. See attached conversion guide.