Can you give us an example of a recent case where the NML policy did not fit your client?
nadm
LTC with Mass Mutual
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Can you give us an example of a recent case where the NML policy did not fit your client?
nadm
Arthur Rudnick
Guru
- 1,652
So, this guy comes into my office in a wheelchair and oxygen tank. I had doubts whether NWM would be a good fit for him....
So, this guy comes into my office in a wheelchair and oxygen tank. I had doubts whether NWM would be a good fit for him....
I've actually found NWM's underwriting to be extremely liberal. They've insured people that I know would have either been declined by every LTC insurer OR would have been issued with a substandard rate.
Case in point: a diabetic with a quadruple bypass. He was approved standard by NWM. He'd have been an autodecline from most LTC insurers... possible chance of a substandard rating from 1 or 2 of the top companies.
I'm looking forward to a recent example of when 2insureyou concluded that NWM was not the right fit for one of his clients.
I can hardly wait....
nadm
- 2,584
I always thought "first right of refusal" or something like that was the standard for captive contracts. Captive agencies don't like you being contracted with other companies let alone "sell away".
What does your captive contract say you can do exactly?
You mentioned its how "the particular product fits into the overall portfolio". Is that what your contract says or what you say? Its pretty vague anyway.
I wonder if we will hear back from you.
Thanks!
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- 657
Maybe he meant "sailing" way. 
Maybe he meant "sailing" way.
it's taking a long time for someone to come up with one example from 25% of his ltci sales.
2
2insureyou
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Actually, I've been busy "selling away" today.
Client is a candidate for traditional ltc OR a linked benefit plan. In his case, A linked annuity makes the most sense, though I could easily make the case for traditional ltc.
Some money is likely going into a Mutual of Omaha linked annuity/ltc combo, and the remainder of his money will, depending on what he chooses, go into Northwestern Mutual's variable annuity, or if he chooses a more rigid, but more guarantees type product, we will use Met Life's Series VA with the GMIB/EDB features.
I think he'll choose the NM for the VA, because I don't think he'll like the significantly higher fees from MetLife, but for the LTC, my recommendation was the Mutual/United of Omaha combo product.
Just finished that meeting not an hour ago.
It is indeed first right of refusal in technical language, but you will hear managing partners, directors, and even home office staff encourage the use of outside products if ours isn't best.
But again, 75% of the time, we're the best.
In this case, it's a little of both, in my opinion. I don't think the Met Life series is right for his VA, but I do think the Mutual of Omaha fits his LTC need better.
Hopefully, we'll be moving forward in the next week. I'm glad to let you guys know how it goes.
Client is a candidate for traditional ltc OR a linked benefit plan. In his case, A linked annuity makes the most sense, though I could easily make the case for traditional ltc.
Some money is likely going into a Mutual of Omaha linked annuity/ltc combo, and the remainder of his money will, depending on what he chooses, go into Northwestern Mutual's variable annuity, or if he chooses a more rigid, but more guarantees type product, we will use Met Life's Series VA with the GMIB/EDB features.
I think he'll choose the NM for the VA, because I don't think he'll like the significantly higher fees from MetLife, but for the LTC, my recommendation was the Mutual/United of Omaha combo product.
Just finished that meeting not an hour ago.
It is indeed first right of refusal in technical language, but you will hear managing partners, directors, and even home office staff encourage the use of outside products if ours isn't best.
But again, 75% of the time, we're the best.
In this case, it's a little of both, in my opinion. I don't think the Met Life series is right for his VA, but I do think the Mutual of Omaha fits his LTC need better.
Hopefully, we'll be moving forward in the next week. I'm glad to let you guys know how it goes.
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- 15,041
Please do explain to me how a good candidate for LTCi, is also a good candidate for a VA without guaranteed riders. I'm am very curious as to your answer.
You still haven't answered my question:
Can you give us an example of a recent case where the NML policy did not fit your client?
... e.g. WHY did the NML product not fit for this guy?
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