Could an IUL with L/B be a replacement to a Cancer policy, etc?

Jul 3, 2018

  1. myinsurebiz
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    myinsurebiz Guru

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    Yea - gonna have to check that out.

    If they only approve 40% - then, IMO, there should be 60% left . . .

    Seems the insured is getting ripped.

    Any way to avoid this?
     
  2. Tahoe Ray
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    Winnebago strategies (you can live in it and drive it, but your house and car do each individual job much better) are inefficient.

    That being said, you can certainly use one product to cover multiple needs. Hybrid LTC is one example (but buying traditional LTC is more "bang for the buck").

    The issue with this concept is that any living benefits on IUL is really self-insuring. If you max fund an IUL (which IMHO is the way it should be sold) then your DB ends up being very close to your cash value.

    There are other policies with living benefits based on the DB that don't accrue much (if any) cash value.

    To me, that would be a better "Winnebago" strategy.
     
  3. Tahoe Ray
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    Normally, if you pay for a rider, you can find $4$ reductions on a DB. If it's "free", then you end up with the actuarial calculation the Rouse mentioned.
     
  4. myinsurebiz
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    good or bad?
     
  5. myinsurebiz
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    Ameritas LB rider is no cost . . . I think Forester's and ANICO's are too . . .
     
  6. rousemark
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    Use a company that charges a premium for their riders that pays a fixed amount for a covered event.

    Here is an AIG brochure.. Pay particular attention to the enxt to last paragraph on page two...

    http://www.agla.com/lifeinternet2000/careerweb.nsf/Lookup/8534 SLTR/$file/8534 SLTR.pdf

    Notice that blindness is covered. There was a case where a fellow had been blinded and asked to accelerate his $50K they offered only about $1000 since blindness does not have a great affect on mortality. (been so long I don't remember exact amounts but this is close)
     
  7. Mattschmidt
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    Quit drinking the ameritas kool aid. Better products and carriers out there
     
  8. myinsurebiz
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  9. myinsurebiz
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    I like Foresters too and their rates are very competitive it seems . . .

    But - wonder if their LB are accelerated the same way?
     
  10. myinsurebiz
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