Beating Mass Mutual Whole Life

benwrigh

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308
There is a MM agent going around offering up some large premium whole life policies. I have had two client come in with illustrations. The non-guaranteed values for cash and death benefit seem to be unbeatable. I had two brokers check around and they came up with nothing. I found that SBLI was able to beat it on guaranteed cash, but was not close on non-guaranteed DB and cash. Any ideas, or is MM really this good?
 
Always remember the rule 1 to 100: Within one year, 100% of your illustrations will be wrong.

These are projections only - that should be based off the current dividend scale.

Your selling point should be to be MORE conservative, so you can help manage expectations. Remember to emphasize that those numbers were under the NON-GUARANTEED side.

You may even want to call anything in the non-guaranteed columns an "illustionist illustration"... especially since you can beat out the guaranteed columns.

"If it's too good to be true..."
 
Are you insurance licensed and non-captive? If so and you have a good relationship with the client, sell them Mass if it's the winner. I manage a brokerage office with Mass so feel free to send me a private message and I'd be happy to help you get access and answer any questions you might have.
 
^^^ DHK is right. Non-guaranteed is just that. Any company could illustrate whatever they want... it really doesn't matter what "might" happen.
That said, MM is pretty strong from what I've seen on their WL products.
 
I don't recall being able to illustrate a higher dividend that the current dividend at Mass. All you could do was illustrate at current dividend or at a lower dividend level.
 
Penn Mutual can come close. Try them.

They also have an OverLoan Protection Rider which guarantees that the policy will not lapse due to excessive loans. That is a feature that MM does not have.

But Mass is hard to beat. So sell the overloan protection if the people care about cash values.
 
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