Best for Accumilation

[SamIam]

Here is the scenerio, Min death benefit max cash value increasing death benefit until she turns 65 then switch to level. She turns 34 in July. non smoker great health.

Thanks!

 

[scagnt83]

Here is the scenerio, Min death benefit max cash value increasing death benefit until she turns 65 then switch to level. She turns 34 in July. non smoker great health.

Thanks!

North American/Midland National

 

[ZenSamurai]

North American/Midland National

I have been wondering for a while. I always read about North American/Midland. I'm a newbie and keep wondering what makes them the holy grail? Isn't the comdex higher with a company like Mass Mutual. I am not a captive agent of Mass Mutual but Mass has one of the highest scores on the comdex, Transamerica does as well, and much higher than North American/Midland so what makes them so much more attractive than Transamerica or Mass Mutual??

 

[SamIam]

I have been wondering for a while. I always read about North American/Midland. I'm a newbie and keep wondering what makes them the holy grail? Isn't the comdex higher with a company like Mass Mutual. I am not a captive agent of Mass Mutual but Mass has one of the highest scores on the comdex, Transamerica does as well, and much higher than North American/Midland so what makes them so much more attractive than Transamerica or Mass Mutual??

Mass Mutual doesn't sell IUL

 

[scagnt83]

I have been wondering for a while. I always read about North American/Midland. I'm a newbie and keep wondering what makes them the holy grail? Isn't the comdex higher with a company like Mass Mutual. I am not a captive agent of Mass Mutual but Mass has one of the highest scores on the comdex, Transamerica does as well, and much higher than North American/Midland so what makes them so much more attractive than Transamerica or Mass Mutual??

Trans is not "much higher than Midland/NA". It is only 2 points higher at 92, vs. 90 for Midland. And last year there was only a 1 point difference... (93 vs. 92)

As already pointed out, MM has no IUL. Penn Mutual has a good IUL if a 2 point Comdex difference bothers you (which it shouldnt, that is nothing).

The reason Midland/NA is better than all the others has been explained on the forum many many times. Take 30min or an hour and read the IUL section if you want to know.

 

[EAJoe]

I just ran some numbers with North American and Minnesota Life. Cash value at age 65 is very, very close on both of them. Minnesota Life shows a slightly higher maximum solved withdrawals/loans from age 65-90 assuming last premium paid at age 64. Both are great companies, but recently we've seen much more favorable underwriting decisions from Minnesota Life. There's been several cases recently with MN Life where the client got preferred when we thought it would never happen.

It might be worth it to submit with both companies and see who gives you the better rating.

 

[BNTRS]

I just ran some numbers with North American and Minnesota Life. Cash value at age 65 is very, very close on both of them. Minnesota Life shows a slightly higher maximum solved withdrawals/loans from age 65-90 assuming last premium paid at age 64. Both are great companies, but recently we've seen much more favorable underwriting decisions from Minnesota Life. There's been several cases recently with MN Life where the client got preferred when we thought it would never happen.

It might be worth it to submit with both companies and see who gives you the better rating.

Did you assume a similar interest bonus and loan rate for both companies? Assuming you are using indexed loans for income.

Minn defaults their loan rate for indexed loans much lower than NA. Also, Minn defaults the assumption on their interest bonus at its full 1%. While it's cool that Minn has a contract that can credit up to 1% higher, it's not guaranteed to work out that way. NA on the other hand has a guaranteed 0.75% interest bonus.