Policy premium = MEC guideline, good or bad?

[SParker]

Definitely use GC until we can't. Its better of the two. My rep told me that they are planning to come out with a replacement for GC sometime in 2020. VC is out, but many don't like it because commissions take a hit on the term rider in comparison to GC.

SParker if you need help with the illustration software, pm me. I'm not a guru but have used it a couple years and know it pretty well.

Thanks PFG1 for the offer, really appreciate that.

I am ok for now, just finished designing a policy with the help of some mentors out there and now I am working with underwriting to wrap this up. So far so good, medical and everything all submitted, I see status = APPROVED on the carrier's portal and now working on the Issue Instruction which seems very straight forward.

I agree, as far as GC vs VC is concerned, from the numbers I ran using both GC and VC, GC is definitely the better option if you want to build the most efficient policy in maximizing cash value/DB within the shortest period of time.

Also, APPUA seems to be more efficient EPPUA, but the problem with APPUA is that it MEC very easily, so it can take a bit more work designing a clean APPUA policy. That's my experience at least.

There is still time for folks out there to promote GC to clients before it is gone for good. I think Mass Mutual and other carriers have long switched to the new mortality tables for their products, maybe that explains why Penn's #s look more competitive with all things equal.

I need to take a break after designing my first policy, it was overwhelming.....but totally glad that it is now behind me.

 

[pfg1]

Thanks PFG1 for the offer, really appreciate that.

I am ok for now, just finished designing a policy with the help of some mentors out there and now I am working with underwriting to wrap this up. So far so good, medical and everything all submitted, I see status = APPROVED on the carrier's portal and now working on the Issue Instruction which seems very straight forward.

I agree, as far as GC vs VC is concerned, from the numbers I ran using both GC and VC, GC is definitely the better option if you want to build the most efficient policy in maximizing cash value/DB within the shortest period of time.

Also, APPUA seems to be more efficient EPPUA, but the problem with APPUA is that it MEC very easily, so it can take a bit more work designing a clean APPUA policy. That's my experience at least.

There is still time for folks out there to promote GC to clients before it is gone for good. I think Mass Mutual and other carriers have long switched to the new mortality tables for their products, maybe that explains why Penn's #s look more competitive with all things equal.

I need to take a break after designing my first policy, it was overwhelming.....but totally glad that it is now behind me.

Just remember that APPUA can only be used if you have the term rider. Sometimes EPPUA ends up being better. It just depends on the case, how old, rating, how long they are paying, design of policy, etc.

 

[Allen Trent]

Just remember that APPUA can only be used if you have the term rider. Sometimes EPPUA ends up being better. It just depends on the case, how old, rating, how long they are paying, design of policy, etc.

What is the main reason A is better than E? Does A have a better projected dividend or a lower load or does it just allow more flexibility in how much PUA can be deposited, etc?

Thanks