Forethought: Bonus Advantage

[bobwise23]

Hello there,
Has anyone heard of this bonus advantage product? Issue age is 55-80 and you receive an 8% bonus for single premium and guarantees 6% growth compunded annually. Must keep policy in force for 15 years. Has anyone used this product before? Success stories on if this works just like it sounds?
Any criticisms, comments or concerns are greatly appreciated.

Bob
www.thirdlakefinancialcorporation.com

 

[TRSecurity]

This is a common mistake - people, including agents, are getting the INCOME account confused with the actual account value.

The income account has the guaranteed growth. It's available only as an income stream.

One aspect of this particular product which is somewhat unique/appealing is that the income account can also be available as a death benefit.

Please don't tell your client they are getting 6% interest guaranteed. Or if you do tell them that, let me go see them after you.

 

[Newby]

I've only glanced at that product but I think I saw where it pays a high % of the account as income but only until you deplete the actual cash account. Then it shifts to a lower %.
That is going to be hard to explain to people and put a positive spin on it.

 

[bobwise23]

I've only glanced at that product but I think I saw where it pays a high % of the account as income but only until you deplete the actual cash account. Then it shifts to a lower %.
That is going to be hard to explain to people and put a positive spin on it.

Thanks a lot guys. Still trying to figure this stuff out!