Just got turned down by NMFN????

[rocketboy]

Ya, I passed the personality test no problem. NMFN said the success rate is this industry is 1 in 15 make it. They said for their firm the success rate is 1 in 5 people make it. They said with my test scores I have about a 1 in 3 chance on making it. For whatever that means that is what the managing partner told me.

 

[bluemarlin08]

Most managing partners speak with forked tongue pale face.

 

[CHUMPS FROM OXFORD]

"They said for their firm the success rate is 1 in 5"

Quite untrue.

 

[WinoBlues]

try www.a WHOLE.com no mib or script check

You are not to bright.

......................

 

[Flyairman]

"Not too bright" me thinks.

As for the question at hand; there are many life insurance companies that will not allow a bankruptcy within the last 24 months or so. I know this from trying to contract several agents that have credit blemishes.

You'll have a tough time with Allianz, North American, LSW etc. I think the easiest to get on with considering your unique situation is probably Minnesota Life, who is a top 5 provider in my opinion anyways.

I recognize that you wanted to write whole life and term and I apologize, but I don't know enough in that space to be able to help. I have about a dozen previously captive WL guys from Mass Mutual, Northwestern, N.Y. Life etc. that once learning the benefits of a properly structured, properly funded IUL have never, ever looked back. Several were MRT producers so let's not have an argument that they didn't know thier products or that they weren't successful with them.

IULs are simply a better product regardless of what apples 2 apples comparisons you try to make... Not to mention that the returns for WL are greatly dependant upon 20 year bonds and while the returns in those product may be good now (from bond yields purchased 5-15 years ago) what do you think the returns will look like in another few years with the yields we've seen as of late? Something to ponder perhaps...

 

[Tahoe Ray]

"Not too bright" me thinks.

I agree with most of this post...two questions for Flyairman:

As for the question at hand; there are many life insurance companies that will not allow a bankruptcy within the last 24 months or so. I know this from trying to contract several agents that have credit blemishes.

#1 What is your criteria for contracting those agents? I have run into this myself more times than I would have thought and obviously the carrier requires me to sign off on any issues (they have recourse to me) that come up. I know that some agents have had a tough time but it is hard to evaluate who can pull through and who can't without specifics

You'll have a tough time with Allianz, North American, LSW etc. I think the easiest to get on with considering your unique situation is probably Minnesota Life, who is a top 5 provider in my opinion anyways.

I recognize that you wanted to write whole life and term and I apologize, but I don't know enough in that space to be able to help. I have about a dozen previously captive WL guys from Mass Mutual, Northwestern, N.Y. Life etc. that once learning the benefits of a properly structured, properly funded IUL have never, ever looked back. Several were MRT producers so let's not have an argument that they didn't know thier products or that they weren't successful with them.

IULs are simply a better product regardless of what apples 2 apples comparisons you try to make... Not to mention that the returns for WL are greatly dependant upon 20 year bonds and while the returns in those product may be good now (from bond yields purchased 5-15 years ago) what do you think the returns will look like in another few years with the yields we've seen as of late? Something to ponder perhaps...

And #2, If you can consider WL as a bond asset class and also assume that the individual who is purchasing this product is young with many years to let it "cook" (20+), I think that it is very viable. For instance, a 35yo contributing 50k to his/her SEP and investing heavily in equities can use whole life (maybe 10k in AP) to offset volatility. It's not a bad strategy if you look at the whole (no pun intended) picture.

 

[Guest]

why did this 4 year old thread revive itself?

 

[trustandadvice]

Because it's just that good!