ANICO Living Benefits

Discussion in 'Indexed Universal Life Forum' started by Experienced Agent, Oct 28, 2015.

  1. Experienced Agent
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    Experienced Agent Well-Known Member

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    American National seems to be much more liberal with chronic/critical benefits for their IUL product. I don't see much discussion on this topic and was wondering if anyone considers this a compelling reason to choose this product over some of the other IUL's that may out perform them in the cash accumulation column. It appears as though they actually have living benefits that could pay off, whereas many companies it seems their definitions would be too stringent to actually consider it a real benefit.
     
  2. DHK
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    DHK Well-Known Member

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    While I like ANICO's product line, unfortunately those riders aren't available in California, so I've paid almost no attention to them.

    I DO like their disability waiver of stipulated premium though! It covers whatever you stated as the premium in the illustration... not just the "target premium".
     
  3. pfg1
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    pfg1 Well-Known Member

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    LSW has nice living benefits as well on their life products. After a recent critical illness claim a client of mine submitted, truly I am paying MUCH more attention to this feature. I was blown away by the benefit. The stats show, many folks will have a critical illness at some point that they DON'T die from, so...yes, I believe its a great feature and selling point.

    LSW and ANICO seem to be two good options, and they offer it on term as well. I wish more carriers had critical, and and particularly some of the better Mutuals. Many of them have chronic and terminal, but critical (imo) is likely to be the one that will be needed more often than the others. I know its a bigger risk which is why many carriers aren't going there.
     
  4. WinoBlues
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    WinoBlues Well-Known Member

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    What are the average street comp levels with ANICO? On their non-med products?
     
  5. DHK
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    DHK Well-Known Member

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    Generally it's 80% on their life insurance products and 7% on their indexed annuities. Same comp % for policies using Underwriting Express.

    They do have a true simplified issue if you're working with employer groups and can guarantee 10+ applications.
     
  6. aclaro
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    aclaro Well-Known Member

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    North American has critical and chronic
     
    Last edited: Oct 30, 2015
  7. pfg1
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    pfg1 Well-Known Member

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    Has anyone had experience on a critical illness rider claim they would care to share? Curious how the various companies have handled this. TIA
     
  8. pfg1
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    pfg1 Well-Known Member

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    Nobody. ??

    Well does anyone have experience with a claim on ANICO's living benefits? Curious how that went. TIA

    ----------

    Or experience with North American critical illness claim? Thx
     
  9. NewbieNewbie
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    NewbieNewbie Well-Known Member

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    Not on an IUL, but I did on an ANICO term product. It was a female in here mid fifties. She bought a 150k term policy. Two months after being in force she called and had been diagnosed with stage 4 breast cancer (terminal). She had two offers within 3 to 4 weeks which I thought was pretty fast considering the policy was contestable. 138.5k lump sum or 74.7 now and 75k upon passing. Paperwork was sent out to sign but she passed prior to be able to return it. It was very well handled imo. I would also like to hear any stories on chronic or critical from anyone who has seen a claim. I have not.
     
  10. pfg1
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    pfg1 Well-Known Member

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    That is good to know about Anico. Thanks Newbie

    Not many companies offer critical on term products. The claim I had was on two polices from LSW - 1 term, 1 IUL. 55yo male, heart attack. Same deal, they handled is amazingly well and really super fast all things considered. Mine was 1.5yrs in, so they had to review it deeper also (contestable). Can't complain, and will certainly write more with them based on my experience.

    Anyone have a claim with NA?
     

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