IMO Suggestions???

Jan 7, 2018

  1. Dins
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    Dins Expert

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    Here's a recommendation I received. Thoughts???

    "I lowered the premium for the two kids, because I added term to the parents, and instead of taking away from their CV contributions I took away from the kids. I ran this all with Minn life, 1 because I have a current issue with north american where the lowered 12 of my clients Cap's after the first year of their policies, and two especially for the wife they can be difficult with the underwriting side. I like Minn Life because they are a mutual company, easy to lead that to the client as well.

    You will notice the kids have a great opportunity to build some serious cash through their life, we can alter it to solve so they both have equal cash roughly, you'll see the 1 year old has a lot more than the 5 yr old.

    Husband 24.

    $2,400/yr – Minn. Life Orion IUL.

    Starting DB is $112,362.
    Age 65 DB = $732,221
    Age 65 CV = $610,185


    + 30 year term, $400,000 = $27.02/m minn life advantage elite



    Wife 26 – standard.

    $2,400/yr minn life orion iul
    Starting DB is $144,942
    Age 65 DB = $643,124
    Age 65 CV = $500,132


    + 20 year term, $400,000 = 27.47/m minn life advantage elite


    Kid1-5YO Minn life orion.

    $2,000 annual –
    Starting DB- 193,023
    DB Age 22-253,652
    CV age 22- 62,291
    DB age 65 - $1,849,031
    CV age 65 - $1,540,859


    Kid2-Almost 1yr old

    $2,000 annual –
    Starting DB- 225,409
    DB Age 22- 698,966
    CV age 22- 82,326
    DB age 65 - $2,641,696
    CV age 65 - $2,031,259 "
     
    Dins, Mar 12, 2018
    #51
  2. Redbeard22
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    Redbeard22 Expert

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    AIG THROUGH FEG IMO. THEY HAVE A GREAT IUL PLATFORM. AIG IS CONTRACTED WITH ML FOR THEIR EXCLUSIVE S&P PRODUCT THAT HAS NO CAP AND 0% LOSS GURANTEE. LET ME KNOW IF YOU WANT TO KNOW MORE
     
  3. VolAgent
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    VolAgent Guru

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    Could you say that a little louder? I'm having trouble hearing you.
     
  4. Redbeard22
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    Redbeard22 Expert

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    I just saw that and didnt feel like re typing, my pinky has a mind of its own
     
  5. goillini52
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    goillini52 BUILD THAT WALL!!!

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    I've often heard that about "male members". :twitchy:
     
  6. Dins
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    Clients have decided that they want to wait on the wife's IUL since she is in the process of weight loss and will get more favorable underwriting after. They want to go ahead and get some term on her. Still needing to put together a solution for the husband and kids....
     
    Dins, Mar 17, 2018
    #56
  7. pfg1
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    pfg1 Guru

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    I would look at AIG, Penn, or NA/Midland for the IUL's. Personally, I would stay away from FEG, unless you want to get into a MLM marketing organization. They aren't a bad company, but what they do is geared towards recruiting and building a team.

    For kids, I personally love whole life. Simple, easy, predictable, and over the long haul they WILL perform great. Keep in mind, most companies will only go 50% of what the parents death benefit is, on the kids.
     
    pfg1, Mar 17, 2018
    #57
  8. Dins
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    Why would you go with a whole life over an IUL? Won't an IUL leave them with more cash value over time?
     
    Dins, Mar 17, 2018
    #58
  9. pfg1
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    pfg1 Guru

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    I personally like the guarantees that whole life offers. And if structured properly, a WL can deliver about 5% IRR. Sure, an IUL #'s may end up being better long term...but there are no worries with a WL. It will deliver. This is not a knock on IUL, its a good product for the right people and I sell it also.
     
    pfg1, Mar 18, 2018
    #59
  10. Dins
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    Dins Expert

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    See that's where I'm still hung up... what do you consider the right people? From the description I've given of my clients, why would/ wouldn't they fit the bill in your opinion?
     
    Dins, Mar 19, 2018
    #60