ING IUL How is It Compared to North American IUL

[Justin Bilyj]

It's actually a really great whole life product. I used to beat them up a a bit because their selection was so "limited." I looked at them as just having a plain vanilla whole life contract and no HECV products for the markets I spend most of my time in.

There approach is shockingly deceiving. That one little whole life product can accommodate a lot of situations.

It's not likely going to win any spread sheets over initial premium, but those of us who understand life insurance and total cost a la reserves know that comparisons is a fool's game.

The product accumulates cash quite well, especially on a guaranteed basis.

What's more amazing is the incredible flexibility concerning their PUA rider. On this topic, they have the contract to beat. The minimum required PUA amount is $25...every 3 years. And the maximum is actually chosen at issue (there's some justification on the side of financial underwriting that needs to take place, but this is great compliance/suitability safety net). The max can be several times the base premium.

They also have a great waiver rider and they have the only whole life product I'm aware of with an over-loan rider.

The Achilles heal? Direct recognition and blending limitations.

Direct recognition in the first 10 years drags them down a bit. They do, however, have a preferred dividend after 10 years that guarantees they'll peg the loaned div rate to the loan interest rate.

The max blend is 4:1 term to whole life, which is a little on the light side when it comes to some competitors. There are those who would question why anyone would reasonably want to go beyond this blend. I could show you plenty of examples.

All in all, really solid contract. I've come to like it a lot.

Great post! Can you go more into the "reserves comparison fools game"?

Let me see if I have this correct, the pegged div rate to the loan rate will wash any interest from any loan? Is this feature suitable for taking income?
Appreciate the education!

Also, what situations would you pick penns iul over their pwl? For people who want to be more aggressive with the cash accumulation?
Thabks again!

 

[Full Throttle]

I believe the pegged spread is .25%.

 

[indexedannuity_girl]

I just recently took another look at ANICOs IUL after an email prompted me to.

It seems that they have made some nice changes to the product since I last researched it.

Anico really pissed me off recently with a case, so I am hesitant to send them more business at the moment...

How much lower do they tend to be would you say?

It depends on the age and face amount, but if you email me at [email protected], I will send you a side-by-side product comparison of the ANICO IUL vs. some others. sjm

 

[CFP83]

Hows Penns par wl compared to their iul?

This was just passed onto me this past week from Penn's Home Office....seems pretty impressive