Leap, Ibc, Cow

[bluemarlin08]

I understand IBC 100%. It is very easy to understand. It will work, but I never have used it, nor do I need to.

As you state "it will work" but never intend to use it, I'm confused. If you think it works, why wouldn't you use it?

 

[somarco]

A lot of things work in principle, and sound good on paper.

Getting them to work in real life is the challenge.

IBC is a lot of smoke & mirrors if you ask me. Finding an agent that is diligent enough to service the policies is the second big challenge.

 

[bluemarlin08]

I know I have looked at LEAP very closely, I have set through various meetings and everything looked good in the presentation, but once I took the time to digest the info lots of unanswered questions. I use to sell WL in the 80's for estate liquidity, now if someone needs DB for life, hard to beat ULNL.

 

[Atlas]

" As you state "it will work" but never intend to use it, I'm confused. If you think it works, why wouldn't you use it? "

It's not for me. Many things in life will work if you use them. Buy term and invest the difference will work if you will do it. Yet no one invest the difference. I fear the same for IBC. Will they pay the money back? If so it will work if not it falls apart. I think most will not pay back the policy. That is why I do not use it.

Do you see what I mean? Most things will work if you will do it and keep doing it. IBC is just not for me nor for my market.

 

[Atlas]

" Finding an agent that is diligent enough to service the policies is the second big challenge. "

That is also a very good point I have not though of before. You bring up a very good point.

 

[arnguy]

Somarco, I remember the "vanishing premium" concept back when I was selling life insurance. Many agents came to regret it as the policies eventually became "vanishing insurance policies."

 

[bluemarlin08]

I sold a lot of vanishing premium concepts in the early 80's, some continue to work as illustrated, some required more years of premium payments to work. Do any of you guys remember 4 pays, or RLR( retired lives reserve) wow, saw a lot of big premiums with those concepts.

 

[somarco]

4 pay AKA minimum deposit (or mini dep) were popular as was Section 79 and RLR. Actually, the Section 79 & RLR was back in the early to mid 70's.

But I am dating myself . . .

 

[J.R.]

I know I have looked at LEAP very closely, I have set through various meetings and everything looked good in the presentation, but once I took the time to digest the info lots of unanswered questions. I use to sell WL in the 80's for estate liquidity, now if someone needs DB for life, hard to beat ULNL.

What is ULNL? Google didn't turn up anything.

 

[Agent]

I believe bluemarlin08 is referring to Universal Life No Lapse, or better known as Guaranteed Universal Life. Just a guess though.