NYL Whole Life Pricing

[BYSFG]

Does anyone has any experience with how competitively priced NYL's WL is?
Working with some potential clients and they're saying they were told they can get get:

$100k coverage, WL, Non-Smoker for around $80/mo. for a 35 y/o male.

The others didnt share what their quoted amount was.

I'm just curious if they are actually this competitive cause this about beats me by $20-$25/mo. in what I can offer price wise.

 

[SonuK]

I'm an NYL agent and that sounds about right assuming he got the best possible Heath rating.

 

[Newby]

Does anyone has any experience with how competitively priced NYL's WL is? Working with some potential clients and they're saying they were told they can get get: $100k coverage, WL, Non-Smoker for around $80/mo. for a 35 y/o male. The others didnt share what their quoted amount was. I'm just curious if they are actually this competitive cause this about beats me by $20-$25/mo. in what I can offer price wise.

I don't know if NYL even offers it but often when you hear quotes that are too low from people on WL it's not even WL. It's UL. Most consumers and many agents don't know the difference and will call Universal Life, whole life out of ignorance.

 

[missdeas]

Agree with SonuK, That sounds about right depending with his health rating and riders/or lack there of that he chose

 

[pfg1]

In addition the health ratings, it depends on the design of the product. With some companies you could blend and get higher DB for less prem.

 

[BYSFG]

In addition the health ratings, it depends on the design of the product. With some companies you could blend and get higher DB for less prem.

Right. I'm familiar with NYL products so I'm not sure how their base product is. Such as compared to carriers that have riders built in with no additional charge.

I'm an NYL agent and that sounds about right assuming he got the best possible Heath rating.

NYL ratings have low coverage reqs?

 

[SonuK]

100k face and up can get the best health rating, any amount below 100k will get NonSmoker at best

 

[Mattschmidt]

Yea NYL offers a pretty competitive fully underwritten whole life product.

Like other said 100k is minimum face amount for preferred and preferred plus rates.

 

[LGilmore]

what are you offering that is getting beat by $20-25 a month in premium. I mean NYL is a good company and I own a bunch of their whole life, but it shouldn't be that great of a difference between similar carriers.

 

[BYSFG]

what are you offering that is getting beat by $20-25 a month in premium. I mean NYL is a good company and I own a bunch of their whole life, but it shouldn't be that great of a difference between similar carriers.

Currently based off on LSW/NLG WL products with "built in" ABRs.

Just a WL to WL price comparison but without knowing what is in a NYL policy though.