Industry’s first indexed whole life product debuts today from Ohio National

[Allen Trent]

Thank you for commenting. Yes we are aware of the Guardian indexing option, we are also aware of the OneAmerica indexing option. Neither product is the same as our new Indexed 10 Pay policy. Briefly, those policies provide an option for a share (0-100%) of the dividend to be allocated to an indexing option. Our policy allocates the entire net premium to an indexing option providing a higher potential upside for the policy owner. There are many other differences between the policy types, but if you’d really like to learn some more please visit iwl4life.com where we have considerable material that you can review.

Who would trust ON after the recent few years of complete 180 degree corporate changes on several products, several philosophies, who owns you, etc. What guarantee does a client have that you won't gut this product after record sales

 

[scagnt83]

They screwed agents on VA renewal comp.

They screwed WL policy holders on Dividends.

But they promise they wont screw over IWL policy holders on Cap renewals.

 

[scagnt83]

Not really.. You still have to trust ON to pay the projected dividend or there won't be anything going into the index fund.

They are forgoing dividends to have their premiums allocated to indexed accounts and receive indexed linked interest.

 

[Lloyds of Lubbock]

What makes this product different than Guardian or AUL.
Other than the fact that the company screwed it's policy holder and agents.

 

[scagnt83]

What makes this product different than Guardian or AUL.
Other than the fact that the company screwed it's policy holder and agents.

As I understand it, Guardians Rider allocates PUA Cash Value to the Indexed Allocations. It does not directly allocate premium to indexed allocations like an IUL does.

I havent taken the time to run any illustrations or do a deep dive on the web link provided. But I am curious what this does to the guaranteed values when compared to Guardian. My guess is there is very little money in the Guaranteed column.

 

[Tahoe Ray]

. My guess is there is very little money in the Guaranteed column.

Well there better be a decent amount in there or why not just buy max funded IUL?

 

[scagnt83]

Well there better be a decent amount in there or why not just buy max funded IUL?

If the premium is being allocated. Id think it would be dependent on the portion of premium allocated to the indexed accounts. If you allocated 100% of premiums to indexed accounts, whats left to create a guaranteed value?

 

[Lloyds of Lubbock]

"Not the first. Guardian has had an Index Rider on their WL for at least the past 5 years now."
It's closer to ten.
ONAT's policy seems like an old interest sensitive whole life with the engine being the index rather than the company's general account.
It would be interesting to see how they handle the GCV.

 

[Tahoe Ray]

If the premium is being allocated. Id think it would be dependent on the portion of premium allocated to the indexed accounts. If you allocated 100% of premiums to indexed accounts, whats left to create a guaranteed value?

I don't know.

It would be interesting to see how they handle the GCV.

Yes it will be.

 

[pfg1]

They sent me a letter last week terminating my appointment for lack of production, then now are sending me emails about their great new product.


All I know for sure is my one client with a bigger WL policy (paid up at 65 policy) with ON... on the in-force illustration, his dividend when paid up at 65, is projected to be 95% LESS than illustrated.