Best UL Product for Replacing Older UL

[Agentguy5]

Hey guys,

I wanted to see what was out ther for replacing older UL policies. We have TONS of 3 to 15 year old Decreasing UL policies in force, that we would like to replace with a competetively priced Level Guaranteed UL product.

Who do you guys use that would be price effective for our clients? Remember, these are decreasing policies so they are already priced very low for the clients but we are finding that our clients wish they had level products once we meet with them.

thanks

 

[jacobtn]

Sorry but you aren't going to get a simpler answer. Too many variables. Age? face amount? Health? 1035 money? Depending on the above, I like to use Lincoln Financial, North American, and Genworth tend to be good players. At least with the demographic I typically run into. You need a good brokerage that can advise you.

 

[Tahoe Ray]

Sorry but you aren't going to get a simpler answer. Too many variables. Age? face amount? Health? 1035 money? Depending on the above, I like to use Lincoln Financial, North American, and Genworth tend to be good players. At least with the demographic I typically run into. You need a good brokerage that can advise you.

Agree above...North American is well rounded above 250k face (male/female, 50-70, std-pf). I also like Protective for GUL but I'm pretty sure that you're not going to find one "best" carrier to suit all of these cases.

 

[Agentguy5]

Yeah, I just need a couple of good carriers that have policies that will run through age 100, not interested so much in cash valu...

 

[WinoBlues]

Yeah, I just need a couple of good carriers that have policies that will run through age 100, not interested so much in cash valu...

I do a lot of them. I start with a compulife search. That gets me to which companies fit price wise. Then I look a the couple that interest me. I second Protective. Works well with 1035. Looking to short pay. Buy down the premium? Minimum premium to carry 20 years?

 

[INS42]

Hey guys,

I wanted to see what was out ther for replacing older UL policies. We have TONS of 3 to 15 year old Decreasing UL policies in force, that we would like to replace with a competetively priced Level Guaranteed UL product.

Who do you guys use that would be price effective for our clients? Remember, these are decreasing policies so they are already priced very low for the clients but we are finding that our clients wish they had level products once we meet with them.

thanks

Time is of the essence now, as you can expect price increases across the board beginning Jan 1 due to the new reserve requirements that all carriers who offer universal life policies with secondary guarantees will have to abide by. Although Penn Mutual has already announced price increases (as many carriers have) on their Guaranteed Protection UL product and will only accept applications on that product until the end of the year, they are one of the only carriers that I know of that will accept premiums on those applications well into the new year. Two words- FIRE SALE!!!