Are Life Carriers Moving Away from Offering Whole Life Policies?

[sam816]

I know with Mutual of Omaha, Genworth and NY life the highest death benefit for a whole life policy is $25k, it seems state farm is still offering whole life up to $100k.

So are carriers in general moving away from whole life? if so then what is the reason behind such move?

TIA.

 

[Newby]

I know with Mutual of Omaha, Genworth and NY life the highest death benefit for a whole life policy is $25k, it seems state farm is still offering whole life up to $100k.

So are carriers in general moving away from whole life? if so then what is the reason behind such move?

TIA.

You think NYL caps whole-life at $25,000?

Are you sure you aren't reading the brochure on the crappy version that AARP sells?

 

[Tahoe Ray]

I know with Mutual of Omaha, Genworth and NY life the highest death benefit for a whole life policy is $25k, it seems state farm is still offering whole life up to $100k.

So are carriers in general moving away from whole life? if so then what is the reason behind such move?

TIA.

Max face on NY Life WL is 40 million (to age 60)...25k is the minimum for an adult.

 

[WinoBlues]

I know with Mutual of Omaha, Genworth and NY life the highest death benefit for a whole life policy is $25k, it seems state farm is still offering whole life up to $100k.

So are carriers in general moving away from whole life? if so then what is the reason behind such move?

TIA.

$25,000 may be true in Final Expense but not in traditional life insurance.

 

[BNTRS]

No.



I thought that was sufficient, but forum rules didn't.

 

[MisterRandyWatson]

I don't know. It kind of seems to me that when it comes to new product offerings, the industry is going UL for perm. I believe more UL premium is being written already than WL. You probably will always have the few big mutuals offering their par WL, but flexible premium NLG is where it's trending.

 

[CFP83]

Let's look back to the original posts here for a second shall we?

Obviously this entire posts is based upon a GIANT misunderstanding....not sure how you can be in this industry and ask a question like that. Really? All the companies listed will write whole-life policies in the 8 figures every chance they get.

Randy, I believe the industry is trending towards "passing the risk onto the consumer".....NLG UL is part of where the trend has headed over the past decade, however in this low interest rate enviroment make no mistake about it carriers would LOVE to get out of the NLG market.

From where I sit I see the industry rapidly shifting toward IUL.....the life companies aren't on the hook for a NLG and they aren't responsable for generating the returns either like they are with whole-life.

 

[Justin Bilyj]

Obviously this entire posts is based upon a GIANT misunderstanding....not sure how you can be in this industry and ask a question like that. Really?

Watch it new guy. We are all here to learn, not to judge.

 

[scagnt83]

I know with Mutual of Omaha, Genworth and NY life the highest death benefit for a whole life policy is $25k, it seems state farm is still offering whole life up to $100k.

So are carriers in general moving away from whole life? if so then what is the reason behind such move?

TIA.

NYL issues up to the tens of millions if you want.

Their AARP sold FE policy might only go to $25k, but their Standard WL, Modified WL, & Custom WL all go deep into the millions.

 

[CFP83]

Watch it new guy. We are all here to learn, not to judge.

New guy?

Homie, I've been on here since 2008. Post count doesnt equal knowledge/wisdom. Two ears and one mouth...so you can listen twice as much as you talk.

Point taken though, we are all here to learn. My comment was purely out of concern that someone with a license to advise others was so mis-informed