Ohio National leaving the Annuity & Retirement Plan business

[scagnt83]

Can you elaborate on this?

That is mainly directed towards not having a LTC Rider like Mass and Guardian. If you dont, you better have super strong CV and super customizable features.... like Penn does.

There is nothing that ON does better than any other WL carrier... other than hand out declines because of much stricter UW. They dont have higher CV, or better Dividends, or longer Dividend history, or better financials, or unique features. Penn has 1 single WL policy, and it can do everything... ON felt the need to have like 4 or 5 different policies... and none were stellar. I stopped dealing with them years ago. Penn, Mass, and Guardian are my go to WL carriers.

ON has a very strong DI policy now. But I wont be selling it now they have screwed over agents and their families.

 

[DHK]

They added a Chronic Illness ABR a few years ago. Took a couple more years to bring it to California. You can see that on page 14 of this PDF for marketing their IUL, although no critical illness riders.

http://image.exct.net/lib/fe94157075600c7470/m/8/456ffe30-5d42-4046-a38c-246e552e75b2.pdf

 

[Golfnut2112]

This move will likely tank the company imo. Agents dont forget. And there are lots of other options for indy agents for quality WL (Penn, Guardian, Mass, Columbus, etc).

But that does nothing to change the damage Ohio National has done to the families of agents they illegally took commissions from. I wonder if it even crossed their mind that ON was taking food off of families tables. Mutual Life Insurers are supposed to be the good guys. Ohio National has lost their soul.

Your right. I got contracted with Penn Mutual which would never have crossed my mind if not for the actions of Ohio National. Penn seems like a very good company and I am starting to use them regularly.

 

[scagnt83]

They added a Chronic Illness ABR a few years ago. Took a couple more years to bring it to California. You can see that on page 14 of this PDF for marketing their IUL, although no critical illness riders.

http://image.exct.net/lib/fe94157075600c7470/m/8/456ffe30-5d42-4046-a38c-246e552e75b2.pdf

Im talking true LTC Riders. Not a Chronic that only pays for a permanent impairment.

 

[scagnt83]

Your right. I got contracted with Penn Mutual which would never have crossed my mind if not for the actions of Ohio National. Penn seems like a very good company and I am starting to use them regularly.

They have an excellent WL and IUL and very good customer service in my experience.

Their Term will be more expensive than ON... so LFG and Midland are good substitutes if you want convertibility... AG for value focused clients. And AG's GUL rocks. With those 4 in your bag, you wont miss ON one bit.

 

[DHK]

I doubt Ohio National would ever enter the foray of true LTC - particularly after leaving the annuity market now.

 

[Golfnut2112]

They have an excellent WL and IUL and very good customer service in my experience.

Their Term will be more expensive than ON... so LFG and Midland are good substitutes if you want convertibility... AG for value focused clients. And AG's GUL rocks. With those 4 in your bag, you wont miss ON one bit.

Thanks I already have Lincoln I will check out AG and midland

 

[AboutThatLife]

Thanks I already have Lincoln I will check out AG and midland

AG as in AIG?

 

[scagnt83]

I doubt Ohio National would ever enter the foray of true LTC - particularly after leaving the annuity market now.

LTC Riders are not even close to the same actuarially as Traditional LTC Insurance. More and more carriers are taking the permanent reauirement off their chronic Riders. It's the wave of the future in insuring for LTC risk.

 

[DHK]

Your right. I got contracted with Penn Mutual which would never have crossed my mind if not for the actions of Ohio National. Penn seems like a very good company and I am starting to use them regularly.

Just thought I'd throw this in: Penn Mutual owns LEAP systems:

The Penn Mutual Life Insurance Company Introduces David Wiesner as New President of Leap Systems, LLC