Northwestern Mutual Vs Ohio National - Whole Life Insurance

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I have been talking with two insurance agents, one who is independent and a very close long-time family friend who I trust a lot who is proposing Ohio National and a NWM agent who was referred to me by a close friend who I do not know that well.

Both insurance agents have been "selling" to me why their chosen company is "better". I have a good understanding of the benefits of a Whole Life policy, but frankly am having difficulty knowing which company to go with. Any thoughts of knowledge comparing these two companies?

 

[CFP83]

Both are very good whole life companies...so you can't make a bad decision.

A very often over-looked component of long term success of a permanent life insurance & its cash-values is good service from your agent. In my opinion you want to use an agent who you feel will be around for the long-term. Being passed around from company agent to agent usually results in poor overall service.

Go with the guy that you feel will be in the business long-term and you enjoy working with the most.

 

[LGilmore]

Yea, neither company is bad and your future is good with either. I think you've already answered who you should go with, because in this case all things are pretty much equal.

 

[NCAgent]

Just curious, what about if we added NYL and ANICO into the mix? What are thoughts on all 4 as a Whole life company?

This is an area I'm really bad at so I'm just very curious.

 

[Tahoe Ray]

Just curious, what about if we added NYL and ANICO into the mix? What are thoughts on all 4 as a Whole life company?

This is an area I'm really bad at so I'm just very curious.

And toss in Metlife....

 

[scagnt83]

Both are good companies. Your policy will be very secure with either one.

But the key is the policy differences and what you want to do with the policy.

If your concern is purely DB, then NWM is fine if you like them.

If your concern is Cash Value, then ON has a superior contract hands down.


Compare ON/NWM/NYL/ANICO/MET?

It just depends on what you want your policy to do.

ON and NYL have superior CV oriented contracts out of the five; specifically the prestige max for ON and the Custom Whole Life for NYL.

For DB it most likely comes down the the UW decision.

 

[2insureyou]

If your concern is Cash Value, then ON has a superior contract hands down.

If you're gonna make this statement, then back it up with some long-term proof, and if you quote "direct recognition" I'm gonna scream, because that does not make one contract better than another on cash value, and is an incredibly oversimplified argument.

 

[scagnt83]

If you're gonna make this statement, then back it up with some long-term proof, and if you quote "direct recognition" I'm gonna scream, because that does not make one contract better than another on cash value, and is an incredibly oversimplified argument.

There is proof in multiple threads on this forum.

Im guessing you are a NWM agent?
Im not getting in a NWM vs. the world argument. I said that it is a good company.

And DR certainly plays a part if they are focused on CV because they obviously want to actually ACCESS that CV at some point.
ON is more favorable when accessing the accumulated CV.

If you want proof go run illustrations on your own time. Or just do a search on this forum.

 

[VolAgent]

If your concern is Cash Value, then ON has a superior contract hands down.

I would dispute that statement. I compared a Mass LPL65 versus an ON Max Prestige contract. ONFS wanted twice the premium and was no where near twice the CV.

 

[scagnt83]

I would dispute that statement. I compared a Mass LPL65 versus an ON Max Prestige contract. ONFS wanted twice the premium and was no where near twice the CV.

The comparison requested did not include Mass. Mass has a great product.