Let me help you for Lloyds: He's had a very long successful career. He actually retired not too long ago. CLU and ChFC holder.
Try not to get too triggered on here. We do quite a bit of banter and asking for clarity is certainly good and warranted, but don't get too worked up over it.
You are a time waster, not a person trying to help another.
What part of this was meant not to be offensive?
I gave a broad based reason on why lapse ratios can be a bit misleading. If you are working in business markets your lapse ratios tend to be a bit higher as companies do go out of business.
Reinsurance also plays a part in lapse ratios.
When a company uses a reinsurance carrier they are generally allowed to recapture that business a a later date. For some reason it is considered a lapse. It does not make sense and I do not know why but it will increase your lapse ratio.
Why do you say my statement is false?
You can choose to believe it or not, but it is not a false statement.
I am not going through company Blue Books to provide documentation.
Every other statement is 100% true.
Here is another example, I will use a Guardian policy.
Guaranteed Insurability Options
NML's last issue date to put on your policy is age 38 Guardian is age 50.
If you max out on both with NML you can get 1.4 million with Guardian you can get 2.8 million. Which is better?
As someone who became uninsurable and was able to exercise 2 options, after the age of 55,that contractual obligation was very important to me.
In spite of this you are missing the point.
Each company has nuances in their contracts that differ.
Which one is better, that is entirely subjective.
It is the recruiters job to make their company look the best.
At the end of the day, I said NML is a good company with quality contracts.
"I am sorry if I offended you just find it disturbing when someone makes false unsupported statements. (no offense)" I accept your half (_i_) 'd apology.
It is probably pretty hot out where you live, keep drinking your Kool Aid...no offense
Maybe let's just respect each others opinion and move on
I suggest that your friend has misunderstood something. Ask him to show you in his contract. He could copy the appropriate paragraph(s) and e-mail them to you.
Not sure if the original poster is still here, but when you are dealing with NW, Mass Mutual, NYL, or Guardian, as much as it may be about the company/products -- it is more about the agency/organization you are with. There are many different types of agencies/organizations with all of those companies. Mass Mutual for example has agencies/organizations that are hard-core, life insurance shops. However, they also have agencies/organizations that are hard-core "wealth management" shops. Very different marketplaces, training, support, and so on. If you are looking for the latter, and end up in the former, you will have a very frustrating career, LOL. NY Life, similar, but different in a variety of ways. Guardian has agencies/organizations that are very, very life insurance focused, hard-core some might say, but they also have agencies/organizations that are more "financial planning" oriented. NWM (which has dropped the word "mutual" from their branding) is very life insurance focused, and many monster equity producers have left to do their own thing, join an RIA, wealth management firm, etc.
All four companies are excellent. Pick the right agency/organization.
Make sure the one you are joining is in the business you want to be in, can support you in the business and marketplace you want to be in, and check out the training each offers. Not the home office -- the actual agency/organization you are joining. The specific training, environment, support you will get from that specific location will directly correlate to how happy and successful you will be in your business. A plumber does not want to join an electrician company/organization.
As far as the products -- I have a whole life policies with all four, as well as other WL carriers. All of those policies are over 25 years old. I've experiment with each, examined each, etc. I bought them and experimented with each, to know, to experience over time, to have access to the carriers and information, and so on, for each onc. Argue all you want, blue, light blue, dark blue, and so on. One is X, one is Y, and one is Z. Rider this and rider that. Dividends and so forth. And on and on and on. They have all performed exceptionally. Anyone can make a case for any of them. What's more important than the product is the mechanic working on it, monitoring it, reviewing it, and maintaining and fixing it.
