WL Question

mike1977

New Member
4
Hi,

I have a WL policy with premium offset at 30 years. Reading the policy, I realized that the out of pocket yearly premium is different from the dividend yearly premium paid when the policy switch to premium offset. Can someone tell me why ?. It goes from 7357$ to 6812$

I called my agent but he is not able to give me an answer. thank you

Mike
 
Hi,

I have a WL policy with premium offset at 30 years. Reading the policy, I realized that the out of pocket yearly premium is different from the dividend yearly premium paid when the policy switch to premium offset. Can someone tell me why ?. It goes from 7357$ to 6812$

I called my agent but he is not able to give me an answer. thank you

Mike


maybe you had a rider on your policy that did not transfer when you put it on pop......
 
Hi,

I have a WL policy with premium offset at 30 years. Reading the policy, I realized that the out of pocket yearly premium is different from the dividend yearly premium paid when the policy switch to premium offset. Can someone tell me why ?. It goes from 7357$ to 6812$

I called my agent but he is not able to give me an answer. thank you

Mike

If you were paying out of pocket other than annual it may be due to the modal factor.
 
Could be several things. Can you tell us what company and do you know the plan name?

Are you over funding the policy by chance? If the premium reduction occurs at offset, something is ending at that point. My first guess without knowing more is that additional funding was taking place and at offset, since the plan is now paying premium from inside, the outside extra is no longer needed.

The other guess is maybe a rider is falling off. Or What age at 30 years will you be? 30 years is a long time for premium offset. Any additional information would help you find the answer.

I'm taking it the agent you called is servicing this plan rather than the one who sold it?
 
Yes Gilmore he is a servicing agent.

the company is Canada Life estate Achiever par to 100. I double checked and there is no rider past the Kid CI at year 25.

Thanks again for your help
 
Hi,

I have a WL policy with premium offset at 30 years. Reading the policy, I realized that the out of pocket yearly premium is different from the dividend yearly premium paid when the policy switch to premium offset. Can someone tell me why ?. It goes from 7357$ to 6812$

I called my agent but he is not able to give me an answer. thank you

Mike

What did the company say? While they are not doing any new business in the US they are servicing it out of New York, I believe. The number I have for them is 800-526-2295

Lee
 
Call the company. All we can do is guess. You didn't say if the $7357 is a one-time per year annual premium or if it's the monthly premium times 12, but in any case the difference in those numbers seems too big to be just a modal factor.
 
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