Lincoln Benefit Life

[bluemarlin08]

For those agents familiar with LBL, now that they have been sold, can changes be made to existing policies, such as extending GUL guarantee period, that might additional underwriting?

 

[WinoBlues]

For those agents familiar with LBL, now that they have been sold, can changes be made to existing policies, such as extending GUL guarantee period, that might additional underwriting?

I called them on that a month or so ago. They said in my case since we were not increasing face and only increasing premium we were fine. Not sure what they are going to do about AllState conversations which is what I used them for.

 

[bluemarlin08]

Thanks Wino, my understanding was that as long changes didn't increase risk they would accomodate. Client wants to reduce DB from 4million to 2 million but wants to increase guarantee from age 95 to age 105, seems this adds additional risk.

 

[WinoBlues]

Thanks Wino, my understanding was that as long changes didn't increase risk they would accomodate. Client wants to reduce DB from 4million to 2 million but wants to increase guarantee from age 95 to age 105, seems this adds additional risk.

Verify with them, but I am pretty sure since it is a UL you are good increasing premium. Of course get an inforce to see if it changes the guarantee by reducing the face.

 

[rayluk]

Who bought LBL? I thought they were selling bunches of their life policies with the Critical illness riders.\

 

[bluemarlin08]

They were bought by an English firm, Resolution Life. Company specializes in buying blocks of business at a deep discount, servicing the business and not issuing any further business. They have fairly successful, cut operating expenses extensively and not having to worry about mortality expenses and underwriting etc.

 

[rayluk]

Thanks! I know few clients of mine bought LBL policies (not sold by me) and will have questions about it. Who is the parent company of LBL?

 

[bluemarlin08]

Allsate was the parent.