NY State sold IUL and ECVR

Apr 21, 2019

  1. Tomacatawata

    Tomacatawata New Member

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    New York
    Hi All,

    I am 31 year old healthy guy looking to get an WL/IUL policy. I want to grow my CV as quickly and as fast as possible and would like some recommendations on who to contact and what to look for. I also have an old policy from Metlife that I believe was also designed for some storage of CV, although not optimized.

    The purpose of this would be to use it as an opportunity fund my real estate investments and as a general savings account for future excess money. I plan to fund it for at least 25-30K every year for the next 5 years. If no unforeseen circumstances occur I would probably fund it in until I retire.

    I am drawn to the IUL option but since I live in NYC, I know my options are severely limited. Who are the good providers that offers IUL's in NYC? I know of Securian and National Life. Are there others or are those the two I should stick to?

    I know that with IUL there is usually a one year waiting period before i can use any money from my account due to the surrender charges but an ECV rider would negate that. It is also my understanding that an ECV rider would cause a huge drag on CV growth at later periods. Does anyone have any data on how much of a % a drag this would end up being? Is it the same type of drag across all providers?