IUL Life Insurance Company in So California?

[Freddie]

A few years ago I saw a good analysis using IUL for retirement and eventual tax free income in retirement. They used a life insurance company in So Cal, possibly San Diego. It was not Pac Life. They minimized the death benefit to make it more of a retirement vehicle. It seemed like it might be very good for someone who maxed out their IRA.

It seemed like a better alternative to a Fixed Indexed Annuity for the right person. The ability to pull money out down the road was pretty attractive. I realize IUL's have been and are being oversold in many cases.

Any ideas? Or is North American a good alternative? Thanks.

 

[bedrosiani]

Hello,
North American is a good company, but lately I have been using North Life Group/LSW which is a great one too.

 

[pfg1]

There are plenty of good companies that offer IUL's that can be designed at you stated. NA, LSW, Lincoln, ANICO, and many more. What you are describing is more of policy design than a particular product...and is not limited to one particular company.

 

[Lewis_FL]

Must have been a WFG recruitment meeting...They like WRL or Transamerica.

 

[Freddie]

Must have been a WFG recruitment meeting...They like WRL or Transamerica.

Ha ha! No. It was about 6 years ago at a big FMO. The guy has become pretty successful with two offices in MI and TX. He would use an IUL to move larger sized IRA's instead of a Roth conversion.

I want to say it might have been Columbus Life but they are in Columbus, OH. I am pretty sure they are in the San Diego area. They were a solid company and at least A rated.

Thanks for the other suggestions and for pointing out it is just the policy design versus any individual company. I knew that was the case but was trying to remember the company.

 

[benefitguy]

Ha ha! No. It was about 6 years ago at a big FMO. The guy has become pretty successful with two offices in MI and TX. He would use an IUL to move larger sized IRA's instead of a Roth conversion.

I want to say it might have been Columbus Life but they are in Columbus, OH. I am pretty sure they are in the San Diego area. They were a solid company and at least A rated.

Thanks for the other suggestions and for pointing out it is just the policy design versus any individual company. I knew that was the case but was trying to remember the company.

I have built a successful team in Los Angeles using the same Tax free Alternatives. these are the companies I use in order, National Life for the living Benefits, F&G life no cap Proprietary product with SYNCIS my company only on certain Index product and insane term rider that can be added to age 100 for real cheep, We do offer GA contracts. Anico if outside California and if it is a government employee, Living benefits outside California. and AIG as a last resort. And no I don't work with WFG, FEG, PHP. Our office does about 20 million a year. I believe these are great alternatives to qualified plan and should be used in addition 401k, IRA, Roth IRA. They need to be set up the proper way or the client may get hurt and have tax consequences, I like to make sure the product has overloan protection and offers LIVING BENEFITS, I like to add the the term rider so if need be the client is able to use the term benefit first and if a must use the cash value part.

 

[mickeyma]

It seemed like a better alternative to a Fixed Indexed Annuity

They probably were referring to a single-premium life policy. Could have a no-lapse rider attached.

If you're looking for a great life company for cash-value policies, check out Midland National Life in Sioux Falls, SD. I've been with them for the last 9 years and it's the best one I have worked with in 36 yrs selling life ins.

 

[EZ_FL_Guy]

Yeah FEG is out there and they are location in the San Diego area. Rancho Cordova i think...

 

[louiefrias]

Sounds like a solid set up...always keeping the client in mind. Money is a byproduct of doing a great job. DO you have a website we can look at BenefitGuy?

 

[L5tc]

How do you use "iuls instead of a Roth conversion" huh? You roll Traditional IRA's into the cash value? I'm sure that's not what you meant.