Second to die IUL

CFP83

Guru
100+ Post Club
Second to die can be a great tool for a client who 1) wants to leave a legacy 2) values having bond alternative via the cash-value 3) A chronic illness for the last to die (many times the wife).

Midland National got rid of their SIUL and I am evaluating the landscape....I'm assuming Lincoln will be one of the top products, who else should I be looking at?
 
...also PAC Life and Penn Mutual I would add to Lincoln in my current list to look at. Anyone have any experience with Global Atlantic?
 
Not an IUL, but PennMutal's Survivorship whole life can be an excellent CV accumulator.
 
Keep in mind, some carriers that had 2nd to Die before 1/1/20, but don't currently are in the process of repricing as required by law. Some products were last on the list & didn't get done in time for the 1/1/20 regulatory requirement. Most completed their Term portfolio, then their core products & last on the list were the lower volume products etc.

not saying this is true with Midland, but maybe they will introduce it when it is compliant.

BTW, you mention Chronic Illness Access Accelerated DB on a 2nd to die was I believe Nationwide. Did the other carriers you are thinking at least offer it on the last to die like you mention?

2nd to Die may make a bigger comeback in 5 years when current Estate Exemption amounts are set to go back to $5M or so. 2nd to die can also be a good strategy toward taxation on 401k/IRA plans now that Secure Act took away the stretch IRA for non-spouse bene
 
I like Penn's SIUL. It has a first to die term rider that is very useful. Their SWL is strong too, no First to die rider though.
 
Thanks for all the feedback thus far......just found out today that Lincoln eliminated their SIUL as well, add this to the list of Allianz and Midland. Seems odd that all these carriers are eliminating SIUL.

In reply to the other question, yes Midland's SIUL is gone for good they are saying.

Looking to hear any feedback others might have
 
Seems odd that all these carriers are eliminating SIUL.

Low sales volumes, it is last on their list to get done in the massive CSO reprice changes. Had to get their high volume products done first like term, GUL, IUL, etc.

I think 2nd to die will regain some sales steam in the next 5 years as Estate tax exemption goes back down from current 22M levels.
 

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