Top IULs

Jan 21, 2016

  1. heynow5
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    heynow5 Expert

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    The Voya Global choice credits interest based on the best performing 2 of 3 indexes giving it an apparent advantage over just using the S&P. The lookback they use shows impressive S&P beating returns. However it doesn't get any mention on here as a top product and was just wondering what people thought of it who have used it or checked it out. Thanks.
     
    heynow5, Jan 21, 2016
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  2. DWPCL
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    DWPCL Super Genius

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    Voya is one of the companies that recently raised the COI on some of their in force book of business. There are many other companies you can go with.
     
    DWPCL, Jan 22, 2016
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  3. insurance404
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    I agree, their COI is much higher. However to be fair, they do have more upside than many other IUL's. Overall they are not a bad carrier, just higher costs than many others.
     
  4. scagnt83
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    scagnt83 Worldwide Expert of Everything

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    Great looking product. Weak financial ratings for the carrier (in comparison to the competition).

    Why sell a 77 Comdex when you can find plenty that are over 85 and 90?

    Those illustrations look great at the current Caps and Expenses. But the worse the financial ratings the more likely they are to have worse renewals. The recent increase in COI is a perfect example of that.


    LFG, NA/MNL, Allianz, Penn Mutual, Nationwide, Pac, Axa, JH, Trans, Minnesota Life, all have better Comdex scores (plus AM Best & S&P ratings) than Voya does. Considering that IUL is a 30-50+ year financial product, I want a strong rating.

    As to who to sell other than Voya; LFG, NA/Midland, Allianz are all good policies.
     
    scagnt83, Jan 22, 2016
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  5. go4life
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    I agree with scagnt83.
     
    go4life, Mar 6, 2016
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  6. AboutThatLife
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    How would you know that? They dont publish COI.
     
  7. AndrewRoche
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    Hmmm....Of course they do! In just the last quarter of 2015 William Penn/Banner, Transamerica, Voya, AXA, and I think Pru all increased the COI (premium) for some or all (Penn/Banner) of their in force permanent policies. More are right around the corner.
     
  8. scagnt83
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    scagnt83 Worldwide Expert of Everything

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    Yep. It is usually published for at least the agent force to see, and often the general public can find notices too. And of course the agents who wrote the policies and the clients who own the policies are notified.

    The Federal Reserve is slowly strangling this industry and the savers of this country with artificially low interest rates.
     
  9. AboutThatLife
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    Where do you find these notices? I've been trying to guess at the cost of insurance. I have no idea how accurate my numbers are.

    It's funny, I was talking to one of the sales people and they were like "interest rates can't really go any lower, so I doubt the current rate will drop"

    All I could say was "They could go negative"

    We had a good laugh.
     
  10. WinoBlues
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    WinoBlues Guru

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    >>
    It's funny, I was talking to one of the sales people and they were like "interest rates can't really go any lower, so I doubt the current rate will drop"<<

    I heard that in the 80s about UL interest rates. Double digit at the time. Oops!

    If it is not guaranteed, it is not.
     
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