SPWL - is anyone selling it? If so, which carriers?

[Life Hawk]

Use to write Fed Life for these. Not but a fist full, but they have thier place.

Great way to place extra funds, or to eliminate monthly costs when you find $ sitting idle.

Very much a more complicated sale than straight FE. You need to use paper to map it out for the client.

I like to draw.

 

[goillini52]

Use to write Fed Life for these. Not but a fist full, but they have thier place.

Great way to place extra funds, or to eliminate monthly costs when you find $ sitting idle.

Very much a more complicated sale than straight FE. You need to use paper to map it out for the client.

I like to draw.

Do you carry crayons in your bag?

 

[LostDollar]

Only ever wrote 2. One with Settlers and one with Oxford.

I only ever bought 2. One with Oxford and one with Baltimore Life.

(The Oxford one wasn't on me but I researched and paid for it. I returned the Baltimore Life one.)

 

[WinoBlues]

I believe Sagicor

I assume with interest rates rising and overall inflation there might be pressure on SPWL sales. I have not seen much discussion in the Forum. Is anyone here selling it? If so, which carriers?

Good question

Couple questions

Are you looking for CV growth or max Life Insurance?

Simplified Issue (ailments) or Standard health?

FE type mentality and premium or working class?

I believe Sagicor had both SPWL and SPGUL. I think.

 

[damadcrapper]

The cases I normally run in to are old policies that are imploding but still have some cash value. The client's are looking for guaranteed DB since they are not thrilled with how the old product was sold to them.

 

[WinoBlues]

The cases I normally run in to are old policies that are imploding but still have some cash value. The client's are looking for guaranteed DB since they are not thrilled with how the old product was sold to them.

Old ULs that may still be out there may be a good target for the paid up death benefit sale. Age and health may be the SI underwriting edge.

 

[LostDollar]

I believe Sagicor


.

Caveat, not an agent.

If I could have understood Indexed Universal Life, I think Sagicor might have been a better alternative than the SPWL options I looked at from Baltimore and others.

Not sure if Sagicor has a SPWL option.

 

[WinoBlues]

Caveat, not an agent.

If I could have understood Indexed Universal Life, I think Sagicor might have been a better alternative than the SPWL options I looked at from Baltimore and others.

Not sure if Sagicor has a SPWL option.

It was a GUL.

Heavier death benefit.

 

[LostDollar]

It was a GUL.

Heavier death benefit.

The illustration I was provided was for an Indexed Single Premium Universal Life. I don't know if that is the same thing as "GUL".

It (sagicor) had a better death benefit but I did not understand, and was fearful of, all the indexing business. I had a bad prior experience with an IUL policy. It (sagicor) also went to 121 for Maturity. Both of those were specific things I wanted.

I returned the Baltimore policy because it turned out to have maturity at age 100, rather than age 121. After reading discussions here, I also discovered that I did not know that change of ownership could trigger MEC provisions-That also had the potential to be an issue because I had specifically planned for a future change of ownership of the policy.

At the moment, for me, it is now somewhat academic because I think life insurance rates in general have risen at least twice since Dec-20--Jan 21 and at the current time, I don't think I can pass life insurance underwriting. At my age, the gap between premium and death benefit is so small that I am not sure that it is worth revisiting even if my ability to pass underwriting returns in the fall. (I was also looking at a small policy of less than $10K premium.)

 

[Tahoe Ray]

I assume with interest rates rising and overall inflation there might be pressure on SPWL sales

Rising rates help our products...it doesn't hurt them.

I believe Sagicor had both SPWL and SPGUL. I think.

They do. A lot of what we do depends on if the client wants the option to get their money back at any time guaranteed. GUL won't do that. Several single premiums (National Western, Equitrust, Sagicor) do, but at the expense of a lower death benefit (and included tables).

The illustration I was provided was for an Indexed Single Premium Universal Life. I don't know if that is the same thing as "GUL".

It's not.