Ohio National leaving the Annuity & Retirement Plan business

Sep 6, 2018

  1. scagnt83
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  2. Golfnut2112
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  3. CFP83
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    Scagnt83, long time since we last communicated......hope all is well.
    Regarding Penn, are you utilizing them exclusively for whole-life? I would be curious to see where you saw value in their portfolio outside of the WL.

    As you will remember Scagnt, Penn was my bread and butter for a good 5 years, heck I made their leaders conference all those years. However due to mutiple waves of cap reductions (more than the field), higher priced term, and several other factors I quite them cold turkey. Midland has been the go-to every since. Again curious to hear your thoughts. On a side note Midland did remove the term "permanent" on their chronic illness rider as well, which was important for me as for my pre-retiree's we can protect against both "living too long or dying to soon".
     
    CFP83, Nov 27, 2018
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  4. Golfnut2112
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    I did not know that, I still haven’t started a 14 day trial may start it in mid December once things slow down.
     
  5. pfg1
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    pfg1 Guru

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    I use Penn for WL mostly. Agree, they are excellent. Their term is fairly priced, GUL is good, and the ACE system makes underwriting super easy for the folks that are in good health.

    What Mass product has the LTC? I am not appointed with Mass but like the sound of that.
     
    pfg1, Nov 27, 2018
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  6. DHK
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    DHK "YOU CAN'T HANDLE THE TRUTH!"

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    DHK, Nov 27, 2018
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  7. scagnt83
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    scagnt83 Worldwide Expert of Everything

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    Hey man, good to see you around.

    Penn has not lowered Caps anymore than Midland has over the past 4 years. Midland had a big drop on their ECV product that was very unexpected imo. Maybe I am mistaken about Penn's severity. But I do not consider Midland "stable" anymore when it comes to Cap renewals. I do still sell them, taking off the Permanent requirement is a big part of that.

    Penn's IUL still looks strong IMO. Especially considering the strength of the company, ease of doing business (for a mutual), & Renewal strength (comparatively). Lincoln dropped Caps occasionally over the years, but they are still strong policies that perform well, and I still dont hesitate to sell LFG IUL if it fits.

    But having the LTC protection is key for long term planning. It's the future of LTCI in my opinion.


    Back to Penn. Basically their WL is really strong. The IUL is solid, and if a client is worried about financials or Cap Renewals I think Penn is the way to go for IUL. No reason to sell their Term unless a client wants to Convert to WL and not IUL.

    Check out AGs IUL and Riders. Also their GUL.
     
  8. scagnt83
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    scagnt83 Worldwide Expert of Everything

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    Literally almost every single one of their WL policies. Same with Guardian. Get with the times guys... thats years old news!!!! LOL

    (just giving you grief obviously)
     
  9. scagnt83
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    No. Their normal WL policies have a LTC Rider that actually uses Dividends and DB to fund LTC needs. Same with Guardian.
     
  10. pfg1
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    Haha, I know they've had it...just haven't looked into it. I didn't have anyone I worked with that offered Mass until recently. I recall reading something about it a while back - is it either/or when it comes to policy design? Meaning they can either set the policy up to fund for the LTC, or set it up to max fund CV.

    And yes, I agree on Penn term...I sell it typically for folks that want to convert later. If they want dirt cheap term obviously some are cheaper. I actually sell AIG term with living benefits quite a bit. Great product, reasonably priced for what they offer.
     
    pfg1, Nov 28, 2018
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