Large Survivorship Policy Advice Needed

[ltcadviser]

Received a request from a client for a large SUL. Couple age male 70/ female 60 in Preferred health. My research indicates Lincoln Financial might be most competitive. Just curious if there are any oddball companies that might have very competitive SUL pricing for older age couples.

 

[Larry Tew]

Congratulations on the opportunity to work this case. I know this isn't the answer to your question, but if they haven't been through the underwriting process, how can you possibly know what their rate class is / will be?

The bigger issue is that for a case this size, there will need to be a substantial income or estate net worth in place. Are there other advisors to coordinate with? Who (you, attorney, etc) is quarterbacking the case?

These cases don't usually just happen in a vacuum. Do you know at this point what is triggering the 2nd to die issue or is this just what they asked for?

If you don't have experience in these types of cases have you considered bringing in a partner?

 

[jason93]

What guaranteed duration do they want? To age 100 or lifetime guarantees? Let me know and I can tell you who's number one.

Received a request from a client for an $8.1 million SUL. Couple age male 70/ female 60 in Preferred health. My research indicates Lincoln Financial might be most competitive. Just curious if there are any oddball companies that might have very competitive SUL pricing for older age couples. I would hate to get blindsided by an unexpected quote from another agent.

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If you do a pay to 100 with lifetime guarantee Lincoln SUL is in fact the lowest premium. If the parameters change the competitive rank does also. Let me know if you need anything more specific. Thanks.

Received a request from a client for an $8.1 million SUL. Couple age male 70/ female 60 in Preferred health. My research indicates Lincoln Financial might be most competitive. Just curious if there are any oddball companies that might have very competitive SUL pricing for older age couples. I would hate to get blindsided by an unexpected quote from another agent.

 

[tlmarketing]

On bigger cases like this, there is always another advisor lurking around. You want to cover your bases by doing some thorough field underwriting upfront.

You then want to apply to the top couple of carriers in order to block out your competition.

Look out for things such as premium finance, limited pay options, shortening db guarantees to lower premium, lengthening premium payments to all years to lower premium....also dont forget about the companies that allow you as agent to spread your comp out over 5 years, lowering premiums and raising cash values.

 

[NinjaNic]

Check out LBL--they are the dark horse on cases like this

 

[Franz Kafka]

Received a request from a client for an $8.1 million SUL. Couple age male 70/ female 60 in Preferred health. My research indicates Lincoln Financial might be most competitive. Just curious if there are any oddball companies that might have very competitive SUL pricing for older age couples. I would hate to get blindsided by an unexpected quote from another agent.

How much tax will the estate of the second to die have to pay from $8.1 mm death benefit? I'm sure you've thought about all that but if you haven't, it will be very easy to torpedo that plan IMO.

 

[CFP83]

Not that I do a ton of business with them but I find myself scratching my head a bit when John Hancock is not mentioned more on this forum during UL conversations.

JH has both a current assumptions SUL and a SGUL with secondary guarantees. In the Survivorship Universal Life marketplace JH would be right up there with Lincoln in my mind.

 

[ltcadviser]

How much tax will the estate of the second to die have to pay from $8.1 mm death benefit? I'm sure you've thought about all that but if you haven't, it will be very easy to torpedo that plan IMO.

It's actually for a business buy-sell agreement. and the Lincoln UW agreed to the SUL application structure.

 

[TaxFreeIncome]

Look at Midland National Life. They have an Indexed SUL. Very competitive and it also has a guaranteed death benefit.

 

[Franz Kafka]

It's actually for a business buy-sell agreement. and the Lincoln UW agreed to the SUL application structure.

Purely out of curiosity, how does the other partner/shareholder or the company plan to pay for the shares of the insured when he/she passes away before his/her spouse does?