ON vs SBLI ...

[Larry Tew]

... SBLI's illustration software is horrendously worse than Ohio National's.

That's interesting. I've been asking ON for the ability to build a single page illustration with the columns of my choosing since 2007 but Albert Moore told me it was a compliance concern.

 

[BNTRS]

That's interesting. I've been asking ON for the ability to build a single page illustration with the columns of my choosing since 2007 but Albert Moore told me it was a compliance concern.

The concern isn't with the illustration output, and Ohio National has a very brief (which is very good) output. The problem with a lot of whole life illustration software is that it makes depicting certain things one can do with respect to product design very difficult.

And we can talk all we want about how illustrations are just projections; I'd completely agree. But if technology can enable us to send pictures of cats doing funny things from coast to coast in a matter of nano-seconds, then surely the insurance industry can figure out a way to present its products in a way that puts its best foot forward.

The industry as a whole doesn't embrace modernity and change all that well. It's not an ONL problem. My comments at the Insurance Pro Blog were made in an attempt to convince ONL that they are likely losing business with some of their more esoteric approach to illustration software. They aren't the only ones, but they are one that I like enough to bother making the appeal.

 

[Cash]

I'm unfamiliar with SBLI conversion options, but ON term (plus option) converts to any perm product in the portfolio at the time of conversion.

The links DHK alluded to are over a year old and ON's perm line has changed a little. Prestige 100 has replaced the Xcel and Performance. The 100 can be blended and I agree that the software is challenging on blends unless you run them frequently.

The Prestige Max continues to complete favorably in the supplemental retirement income scenario in part due to the preferred loan rate possibility (1% lower than current loan rate at age 65 or 4% whichever is higher).

More important to me is the competitive current loan rates, making access to cash value along the way before retirement more appealing than some of their peer companies.

The Prestige Max will not blow away the competition if you're simply looking at "cash value at 65", but then again, using "cash at 65" as the main benchmark would be a rookie mistake.

Larry, what do you think about the recap term from ON?

 

[Larry Tew]

Larry, what do you think about the recap term from ON?

I've never used it. I can see the benefit of having a sort of "forced conversion" deadline looming. Essentially free term for 5 years assuming they convert.

 

[VolAgent]

I've never used it. I can see the benefit of having a sort of "forced conversion" deadline looming. Essentially free term for 5 years assuming they convert.

Call me greedy...

As an agent, I hate the fact that the conversion credit reduces your commission.