Ohio National - Demutualization

[Allen Trent]

looks like Joe Jackson.

Like The Jackson Five manager/dictator?

Or, shoeless Joe from the Blacksocks. He had to need some help to get on stage as the dude had to be 80 years old by then. Someone probably bet him he wouldn't do it & he always like to win his bets

 

[Tahoe Ray]

Like The Jackson Five manager/dictator?

Or, shoeless Joe from the Blacksocks. He had to need some help to get on stage as the dude had to be 80 years old by then. Someone probably bet him he wouldn't do it & he always like to win his bets

You're killing Lloyds rn, Allen...lol.

 

[Allen Trent]

You're killing Lloyds rn, Allen...lol.

Just messin around. God willing, Joe is performing in 3 months in Ann Arbor MI at a small venue of about 1500 people

Sadly, same date I will be at a Journey/Billy Idol concert on the other side of the state in Grand Rapids MI.

 

[DWPCL]

We can't help that we would be paid to replace the business - it's built in and it's state law.[/B] We would do the replacements for FREE if we could. We've all agreed to that in spirit in TBL.

However, that being said, we did say that it COULD be another reason we'd be talking this year about a potential replacement anyway. Again, only if we can do so in the client's best interest. (It's unfortunate that ONL isn't using this new law on behalf of client best interests but I digress.)

What new carriers are you guys going with at TBL?

 

[DHK]

What new carriers are you guys going with at TBL?

Four carriers (really it's three):
- OneAmerica
- Penn Mutual
- MassMutual
- Lafayette Life (we rarely talk about them)

 

[Tahoe Ray]

Four carriers (really it's three):
- OneAmerica
- Penn Mutual
- MassMutual
- Lafayette Life (we rarely talk about them)

Why no Guardian?

 

[DHK]

Why no Guardian?

Per Tom Love (paraphrasing), Guardian doesn't support using life insurance for retirement cash flow. Plus they are direct recognition.

While Penn is also direct recognition, their strategic use of the overloan protection rider allows for a decent cash flow from their policies.

Mass can be either direct or non-direct recognition based on the loan option. Fixed rate loan = direct recognition; variable rate loan = non-direct recognition.

OneAmerica has indexed dividends, a form of an overloan protection rider, and non-direct recognition.

 

[DWPCL]

Per Tom Love (paraphrasing), Guardian doesn't support using life insurance for retirement cash flow. Plus they are direct recognition.

Plus they suck with independents

 

[DWPCL]

Four carriers (really it's three):
- OneAmerica
- Penn Mutual
- MassMutual
- Lafayette Life (we rarely talk about them)

I'm surprised you guys like OneAmerica over Lafayette

 

[DHK]

Plus they suck with independents

I don't have personal experience with that, so I really couldn't say.

I'm surprised you guys like OneAmerica over Lafayette

With Tom, it's far more about getting access to the people who can make decisions.

Regarding Lafayette... I know I have an unfounded bias against them, primarily because it seems that IBC sales use them just for compensation? I admit that I haven't looked into them that hard.

I'm not sure if the regional guy was that active to begin with us since last year?

Also, there's probably some hesitancy in their business decision making since we know that they appointed an agent who was recently barred from securities.

I don't know, but all 3 points are probably factored in.