I have never been a big fan of NWML because they are strickly a captive company and stiff and starchy. However, if you are captive and stay with them they are a great company to work for. My opinion of them has grown due to this neat website they have created.
You can let your worries and premium dollars go all at the same time. Nice.
And your dividend rate go down 6.5% this year Guardian's is 7.3% and so is MASS. My insiders tell me their private equity got hurt big time in the recent market collapse and thats why the dividend went down.
And your dividend rate go down 6.5% this year Guardian's is 7.3% and so is MASS. My insiders tell me their private equity got hurt big time in the recent market collapse and thats why the dividend went down.
I can jump on this one fellas as I wrote 400k of premium on corporate and estate planning cases with NML in 2008.
They are not a captive company by the way, I am a statuary employee meaning that I have exclusive access to their products (1 of 5200 reps currently nationwide) but am in no way captive. NML rep's have a fidicuary responsability to their clients first and foremost. I pay for my office space, my staff, phone, fax ect-In having a contract like this I also am not attached to them either
Regarding dividend rate, I think anyone who is doing big premiums on the advanced planning side (NQDC,COLI,BOLI, buy-sells) can tell you that the dividend rate is only "part of the story" when it comes to a cash value policies rate of return. Because some expenses come out of the dividend before it's applied to the policies cash value, you can have a lower dividend paying policy having a higher internal rate of return.
I can jump on this one fellas as I wrote 400k of premium on corporate and estate planning cases with NML in 2008.
They are not a captive company by the way, I am a statuary employee meaning that I have exclusive access to their products (1 of 5200 reps currently nationwide) but am in no way captive. NML rep's have a fidicuary responsability to their clients first and foremost. I pay for my office space, my staff, phone, fax ect-In having a contract like this I also am not attached to them either
Regarding dividend rate, I think anyone who is doing big premiums on the advanced planning side (NQDC,COLI,BOLI, buy-sells) can tell you that the dividend rate is only "part of the story" when it comes to a cash value policies rate of return. Because some expenses come out of the dividend before it's applied to the policies cash value, you can have a lower dividend paying policy having a higher internal rate of return.
I can jump on this one fellas as I wrote 400k of premium on corporate and estate planning cases with NML in 2008.
They are not a captive company by the way, I am a statuary employee meaning that I have exclusive access to their products (1 of 5200 reps currently nationwide) but am in no way captive. NML rep's have a fidicuary responsability to their clients first and foremost. I pay for my office space, my staff, phone, fax ect-In having a contract like this I also am not attached to them either
Regarding dividend rate, I think anyone who is doing big premiums on the advanced planning side (NQDC,COLI,BOLI, buy-sells) can tell you that the dividend rate is only "part of the story" when it comes to a cash value policies rate of return. Because some expenses come out of the dividend before it's applied to the policies cash value, you can have a lower dividend paying policy having a higher internal rate of return.
[quote=CFP83;141559]I can jump on this one fellas as I wrote 400k of premium on corporate and estate planning cases with NML in 2008.
They are not a captive company by the way, I am a [COLOR=red]statuary employee[/COLOR] meaning that I have exclusive access to their products (1 of 5200 reps currently nationwide) but am in no way captive. NML rep's have a fidicuary responsability to their clients first and foremost. I pay for my office space, my staff, phone, fax ect-In having a contract like this I also am not attached to them either.....quote]
Whoa, there CFP83. Are you cast in bronze or carved out of stone? I believe you mean [COLOR=red]statutory employee.[/COLOR]
I can jump on this one fellas as I wrote 400k of premium on corporate and estate planning cases with NML in 2008.
They are not a captive company by the way, I am a [COLOR=red]statuary employee[/COLOR] meaning that I have exclusive access to their products (1 of 5200 reps currently nationwide) but am in no way captive. NML rep's have a fidicuary responsability to their clients first and foremost. I pay for my office space, my staff, phone, fax ect-In having a contract like this I also am not attached to them either.....quote]
Whoa, there CFP83. Are you cast in bronze or carved out of stone? I believe you mean [COLOR=red]statutory employee.[/COLOR]
Arnguy... They don't teach that there speallin in them CFP classes. They waits untl the graduate course fur dat programs.
I can jump on this one fellas as I wrote 400k of premium on corporate and estate planning cases with NML in 2008.
They are not a captive company by the way, I am a [COLOR=red]statuary employee[/COLOR] meaning that I have exclusive access to their products (1 of 5200 reps currently nationwide) but am in no way captive. NML rep's have a fidicuary responsability to their clients first and foremost. I pay for my office space, my staff, phone, fax ect-In having a contract like this I also am not attached to them either.....quote]
Whoa, there CFP83. Are you cast in bronze or carved out of stone? I believe you mean [COLOR=red]statutory employee.[/COLOR]
...Lol....well yeah, I left the door wide open on that one didn't I? Even worse...my undergrad was in Communications and Journalism! I type too fast sometimes and need to start using spellcheck
I can jump on this one fellas as I wrote 400k of premium on corporate and estate planning cases with NML in 2008.
They are not a captive company by the way, I am a statuary employee meaning that I have exclusive access to their products (1 of 5200 reps currently nationwide) but am in no way captive. NML rep's have a fidicuary responsability to their clients first and foremost. I pay for my office space, my staff, phone, fax ect-In having a contract like this I also am not attached to them either
Regarding dividend rate, I think anyone who is doing big premiums on the advanced planning side (NQDC,COLI,BOLI, buy-sells) can tell you that the dividend rate is only "part of the story" when it comes to a cash value policies rate of return. Because some expenses come out of the dividend before it's applied to the policies cash value, you can have a lower dividend paying policy having a higher internal rate of return.
As another rep with NML, I can confirm all of this. I just placed business this week outside of NML for a client, because it was in their best interest.
As for NYL, Guardian, and Mass, all great companies, and I've used all of them at different times, but when it comes to the actual IRR on a cash value policy, why is it that, even when we illustrate a lower dividend iterest rate, NML wins on just about any 20 year comparison on the IRR? Mortality and expenses... plain and simple.
Still, those other mutual insurers are great companies, and I wouldn't feel bad about using any of them, but it's a little misleading when they shoot out these huge projections of beating out NML that don't ever seem to come true.
As another rep with NML, I can confirm all of this. I just placed business this week outside of NML for a client, because it was in their best interest....
Are you required to give NML first shot at the case?
Do you always shop all the carriers with every client?
Does NML push products and have sales promotions? (I heard NML really pushes there recruits)
[quote=2insureyou;161462]As another rep with NML, I can confirm all of this. I just placed business this week outside of NML for a client, because it was in their best interest.
As for NYL, Guardian, and Mass, all great companies, and I've used all of them at different times, but when it comes to the actual IRR on a cash value policy, why is it that, even when we illustrate a lower dividend iterest rate, NML wins on just about any 20 year comparison on the IRR? Mortality and expenses... plain and simple.
Funny, I've got studies that prove Guardian has the best IRR over 20 yrs for 35, 40, 45, or 50 year old males preferred 500k whole life over NML, NYL, and MASS
In the end, nobody knows which par WL policy will perform best. The difference to your clients is whether or not you as an agent know how to leverage the permanent DB to help them acheive their goals.
At a certain point it becomes do you prefer the hot blonde, redhead or brunet?
All of these companies are pretty solid with great track records. They each will be a slightly better fit for somebody at sometime somewhere (underwriting).
One word of caution, if you are selling cash value policies and not explaining the concept, but rather pointing at the numbers on a "illustration" make sure your E&O is paid up.
I love Whole Life, I own it, but I would never sell it based on those numbers on a illustration. The concept is solid, the numbers will vary.
Northwestern Mutual Life Insurance
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