What Are Key IUL Features?

[csinsurance]

A client is interested in having an IUL with following features: (focus on max. cash value and living benefits)

1. Able to accumulate cash as much as possible
2. Have living benefit without cost include TLC rider with no cost
3. Good cap and floor
4. “0” charge if borrow the money from the cash value account
5. Cost of insurance is transparent. No hidden fee and any unpredicted cost in the future
6. Better % of accelerated death benefit
7. Offer lifetime income rider

Does any IUL have some or all the feature of the above? Any recommendations?

 

[Lewis_FL]

1. AXA's new IUL has good CV
2. There is no free LTC benefit; costs extra (AXA, Genworth, JH, Met, Nationwide, Trans). Free benefit is chronic/critical illness (AG, Am Nat, Lincoln, MoO, No Am, Protective, Pru, Symetra).
3. Caps and floors don't vary too much. Some cost extra to get higher cap or floor. there is no free lunch...
4. they all have wash loans after 10 years for so. most have variable loans.
5. check their illustrations if a cost page is available. most are.
6. aren't they all about the same? I never really check...
7. no such thing on IUL(?)

 

[just some f.e.llow]

1. AXA's new IUL has good CV
2. There is no free LTC benefit; costs extra (AXA, Genworth, JH, Met, Nationwide, Trans). Free benefit is chronic/critical illness (AG, Am Nat, Lincoln, MoO, No Am, Protective, Pru, Symetra).
3. Caps and floors don't vary too much. Some cost extra to get higher cap or floor. there is no free lunch...
4. they all have wash loans after 10 years for so. most have variable loans.
5. check their illustrations if a cost page is available. most are.
6. aren't they all about the same? I never really check...
7. no such thing on IUL(?)

LSW will do most of this, including the lifetime income rider.

 

[TwiLight]

LSW will do most of this, including the lifetime income rider.

Exactly.... LSW is the only company I know of that fits that criteria to the letter...

Lifetime income rider is not exact but they do offer guaranteed lifetime loan guarantee which works better.

 

[just some f.e.llow]

Exactly.... LSW is the only company I know of that fits that criteria to the letter...

Lifetime income rider is not exact but they do offer guaranteed lifetime loan guarantee which works better.

Good point, Twi. And I second your opinion that the lifetime loan option is better.

 

[Ebell]

Through LSW's illustration you are able to show income for life although it may vary from your illustration depending on how well the index performs. I don't think LSW calls it Lifetime Income Riders though. Their lifetime income riders apply to their annuity products (GLIR).

Please correct me if I'm wrong.

 

[gogostar]

the fifth is so important these features...

5. Cost of insurance is transparent. No hidden fee and any unpredicted cost in the future

 

[Lewis_FL]

Looks like MN Life has an income type rider too. More like overloan protection.