I'm glad this popped back up. Still very happy with my Midland policy. Crediting terms are nearly as high as in 2011. I think my cap on renewal for S&P Pt to Pt last go around was 14 or 14.5%.
Just had an agent call me about a MN life policy he sold (against my recommendation) in 2012 or 2013 or somewhere around there. When sold their cap was 15% or something. Higher than about anyone else in the industry. Looked great when projected over a 55yr time line.
He looked at the clients renewal statement a couple weeks ago and their S&P pt to Pt strategy has a cap of 7.5% now. Half of what it was. I know any company can and will cut those caps/participation rates if they have which is why you have to find the companies that treat clients the best over time, protect their franchise, don't get caught up in what I call the scam areas of our business (412i, 419, STOLI, IOLI, buying business through underwriting concessions, etc).
It all gets paid for by policyholder and eventually agents too.
Do it right, sleep at night.
Are you sure this wasn't F&G ?? i have heard of them doing it but not Minnesota. Not that I've written up any Minn policies...
These companies livelihood depend on cash reserve. .. they want new business and sustained busines... so It's up to us refuse to write companies that have questionnable practice... only then will they fall in line.
----------
Lol.
Thanks, fam. Yeah, I got it taken care of...you know, just right before Obama's second term kicked off.
Thanks for checking in.
what company did you end up going with .. and how has the policy done for you..