Tired of No Renewals on Gul Products. Any Co's Have Them?

[jlata1]

2% is about the norm, I've been selling lot lately but you can't build a longer term business on 2% .Anyone have 4-5% renewals?

 

[WinoBlues]

2% is about the norm, I've been selling lot lately but you can't build a longer term business on 2% .Anyone have 4-5% renewals?

The problem with GUL similar to writing 30 term. You lock yourself out long term. The renewal is in additional coverage, cross sales and referral.

That said take a look at Protective's Advantage GUL. While not a renewal it has a two year rolling target. Depending on the age and rating You can make 50% plus more per deal.

 

[jlata1]

I'm assuming protective advantage ul has little guarantees as there custom ul is there Gul I believe.I just wrote my first case with North American and zit says something on a 2 yr target. North American has the cheapest Gul out there.even the whole live policy outside regional director shops like Lafayette life have horrid renewals.In the old days most whole life policies paid 5-7% renewals.

 

[WinoBlues]

I'm assuming protective advantage ul has little guarantees as there custom ul is there Gul I believe.I just wrote my first case with North American and zit says something on a 2 yr target. North American has the cheapest Gul out there.even the whole live policy outside regional director shops like Lafayette life have horrid renewals.In the old days most whole life policies paid 5-7% renewals.

No, Advantage is GUL.

I understand the concern on renewals. I have the same concerns. I will still sell traditional permanent plans of course. However, any marketing on that will be to older proposed insureds.

................

 

[TwiLight]

2-3% renewals is the norm for UL/GUL/IUL for the past 25 years....

What I have found is that the companies offering higher renewals were products I would never buy myself....

Also, The companies that did offer higher than 2% are now longer around.... Merged/Purchased etc.

 

[AOKING]

2-3% renewals is the norm for UL/GUL/IUL for the past 25 years....

What I have found is that the companies offering higher renewals were products I would never buy myself....

Also, The companies that did offer higher than 2% are now longer around.... Merged/Purchased etc.

What perm life products have the best renewals? WL?

 

[go4life]

The problem with GUL similar to writing 30 term. You lock yourself out long term. The renewal is in additional coverage, cross sales and referral.

That said take a look at Protective's Advantage GUL. While not a renewal it has a two year rolling target. Depending on the age and rating You can make 50% plus more per deal.

Hello WinoBlues.

Does it need to meet minimum guaranteed age 81 ? Please advice . I don't have contract with Protective yet, but I've played GUL quotes with different companies. They requires to meet minimum guaranteed age 81 .

Ps: I've also heard that Protective pays very low % commission on GUL . Is that true ?

Thanks

 

[WinoBlues]

Hello WinoBlues.

Does it need to meet minimum guaranteed age 81 ? Please advice . I don't have contract with Protective yet, but I've played GUL quotes with different companies. They requires to meet minimum guaranteed age 81 .

Ps: I've also heard that Protective pays very low % commission on GUL . Is that true ?

Thanks

I do not know about a Protective minimum guarantee on a dial down. I have not bumped up against that with them. I have several Protective numbers and they seem to be competitive with my other contracts on standard fully underwritten GULs. I have a couple contracts that higher.

 

[peteybear]

The cheapest Gul I've seen is North Americans.

 

[TwiLight]

What perm life products have the best renewals? WL?

Assurity offers a good renewals on the Par Whole life and also the SIWL product.

Settlers offers a good renewals on the SIWL/FE and is priced nicely under age 55 with a 20 pay option which is pretty inexpensive.