I am looking for an affordable good index UL product that builds cash value. I have looked at AIG & OM can some one recommend some other company's to look into.
Aviva has an excellent Indexed UL Plan. They have also teamed up with Mayo Clinic to offer some wellness incentives. Also, if your client can maintin a certain height/weight and see their doctor once a year for a physicial they can reduce their premium over time. Good stuff!
Indianapolis Life (AVIVA) has the best Index UL in the market place. As a matter of fact they ONLY offer indexed UL’s – this is their specialty.
[FONT='Calibri','sans-serif']Anna x 112 [/font]
Caution: SEC seems likely to sweep Index UL into the securities/separate account side by proposed EIA rules.
Index UL also seems to violate a part of the Standard Nonforfeiture Law called the "Smoothness Test." Most states focus on the part of that law that sets minimum cash values, so they don't check "smoothness." However, ROP Term was a recent focus of an interpretation of the Smoothness Test, resulting in stronger NAIC guidelines.
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I thought this WAS a real job!
Indianapolis Life (AVIVA) has the best Index UL in the market place. As a matter of fact they ONLY offer indexed UL’s – this is their specialty.
[FONT='Calibri','sans-serif']Anna x 112 [/font]
They don't offer term life? I have one that I will be converting to a EIUL within the next couple years. When did they stop selling term?
Indy Life is the Market Leader in Indexed UL's; they have the best loan provisions out there. If you are licensed with them you can get a bunch of AVIVA vs. The Competition pieces where it compares AVIVA to Allianz, AIG, Midland and much more side by side.
Allianz also has good Indexed UL's; currently they have the Blended Index option which has a 215% participation rate.
From Phillip Roy Financial Consultants specific to Aviva:
If you are truly interested in taking care of your clients, why sell them a product that may seriously reduce their gains by lowering caps and increasing spreads after the first year?
And has huge surrender penalties...
From Phillip Roy Financial Consultants specific to Aviva:
If you are truly interested in taking care of your clients, why sell them a product that may seriously reduce their gains by lowering caps and increasing spreads after the first year?
And has huge surrender penalties...
Can I see proof of this? I have the AVIVA product guide with me and didn't see anything about the caps and spreads changing after the first year (though EVERY company reserves that right).
Well I've never heard of them, nor have I ever heard of that assertion about the Aviva UL products, so I was just curious where you got that information from.
Call AVIVA and ask for a history of renewal caps, participation rates. Personally, I don't like these products for the very reason that the moving parts can change values and the insurance company has no incentive to keep these parts competitive.
Well I've never heard of them, nor have I ever heard of that assertion about the Aviva UL products, so I was just curious where you got that information from.
Twice I've stated they sent it in an email to me. Here you go:
All companies reserve the right to change the crediting rates, spreads, etc. Clients understand this.
The reason I don't sell life insurance for cash value is because the ones I'm aware of also can change the internal costs without notification. That's sketchy. I've seen many policies from well-respected companies that are not performing up to expectations anymore because of internal costs rather than crediting rates.
Asking for an "affordable" IUL sounds like they should have a Roth instead, IMHO.
What company has a good index UL
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