Does this IUL exist?

Nov 18, 2018

  1. Abrasax
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    Abrasax Super Genius

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    Not sure if I’m looking for indexed universal or indexed unicorns here. I haven’t written IUL in a while and do mostly FE but would like to have an option for children, healthy adult IULs. To be clear I’m looking primarily for a middle market CV building IUL with low face amount options that will issue quickly. Not whale hunting top earning execs. Don’t have that kind of patience. So face amounts under 300k should be fine.

    Living benefits with critical illness is important. This makes it easy to sell. Having a guaranteed option is also great but I’m not sure if you can get the guarantee and the CV building power at the same time.

    Non med is extremely important if possible, but NLG taught me non-med does NOT mean express issue. So the faster the better.

    I’d be willing to sacrifice some commission if such a thing were out there. Does this IUL exist?
     
    Abrasax, Nov 18, 2018
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  2. Golfnut2112
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    Golfnut2112 Guru

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    Check out Columbus Life. You can call them directly no IMO needed.
     
  3. DHK
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    DHK "YOU CAN'T HANDLE THE TRUTH!"

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    American National can do it too. Face amounts start at $25,000. Express Underwriting available up to $1 million of face amount as long as it's a clean app and up to specific ages. Policies can be issued in as little is 3 days. Living benefits as well. And you can contract with them directly as well.

    Independent Marketing Group of American National
     
    Last edited: Nov 18, 2018
    DHK, Nov 18, 2018
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  4. scagnt83
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    scagnt83 Worldwide Expert of Everything

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    Midlands new IUL hits all of those requirements. Express UW, living benefits, strong product, direct contracting, and low face amounts.
     
    scagnt83, Nov 18, 2018
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  5. scagnt83
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    scagnt83 Worldwide Expert of Everything

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    Last I looked at that product it illustrated horribly compared to the competition (at the same index rate). Has it changed any?
     
    scagnt83, Nov 18, 2018
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  6. Abrasax
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    Abrasax Super Genius

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    Is that difference due to a discrepancy between caps and crediting or a higher COI? Speaking of, is there an easy way to compare COI in different products?
     
    Abrasax, Nov 18, 2018
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  7. scagnt83
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    scagnt83 Worldwide Expert of Everything

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    I was comparing the same Crediting Rate, so it was due to internal fees, including COI.

    Run an expense report with the Illustration and you can easily compare expenses from policy to policy. It shows a year by year line item report of the Cash Flow of the Policy. This is usually in the "supplemental illustration" or "additional illustrations" section of the software.
     
    scagnt83, Nov 18, 2018
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  8. Abrasax
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    Abrasax Super Genius

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    Thanks. I didn't know those extra reports were there. I was under the impression it was difficult to figure those costs.
     
    Abrasax, Nov 19, 2018
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  9. Golfnut2112
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    Golfnut2112 Guru

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    Your right. The problem is their target premium and expenses are to high unless you add a supplemental insurance rider to bring down the cost. I also deal with Ohio National and Penn Mutual, on a 45 year old preferred male for $500,000 the Columbus life target premium is $12,000 compared to around $8200 for the other two. I always add the supplemental rider at 40% and they are very competitive, if you don't add it they do not illustrate well at all
     
  10. TheGULguy
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    TheGULguy New Member

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    Is there a reason why AIG's max accumulator isn't being mentioned?
     
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