Single Premium Life Insurance

[senior-advisor-indiana]

Just to follow up on this I asked Bysis/Crump what they pay on a Genworth permanent policy single pay (Lifetime Flex Plus/UL). They said it is based on target premium which you get off of the illustration. They pay 80% of the target premium and then 2% of the remaining 20%.

I ran an illustration on a 60 year old, standard , male, single pay 0f $20,000. After calculating the numbers based on the target premium, the payout looks like 6% of the single pay amount. I imagine if the client was rated preferred that the payout would be less, or your payout might be more if you have a better contract for Genworth products. But that is what it looks like to me as a rough sizing. Again, I dont think it can be directly calculated as a per cent of premium or face amount because you have to know the target premium, for Genworth anyway but it would seem to make sense for other companies as well.

Winter

He is talking about WL and you are talking about UL. WL pays a fixed percent, UL pays as you stated.

 

[Ahnuld]

Do you really think he knows what is an apostrophe?

Apostasies? God forbid.

 

[padthaiforlunch]

SPWL will pay 9-15% on lump sum. SPUL 70-80% for target and 3% on excess.

SPWL - Who is paying 9-15%?

One America is telling me they pay 6.5% of premium.

 

[senior-advisor-indiana]

American Pioneer, Standard Life, Assurity just to name a few.

 

[MEbmeier]

I work for Baltimore Life - we pay 14.5% with some liquidity options. It's a good deal.