Which Carrier is Most Likely to Offer a GUL Conversion in 5/10+ Yrs

[David88k]

I met with a prospect today looking for a 10 or 15 year term with an option to convert to a permanent product down the line anywhere from 5 to 10 years.

We discussed WL/IUL/GUL and gul made the most sense to them but I'm not quite sure which company to recommend that will still offer a GUL in 10+ years.

I know its not the most popular product among carriers and having some carriers pull out of that market I want to make sure I put them with a company thats most likely to offer a GUL down the line.



They just recently bought a house together (father and daughter) and they want to make sure that if anything happens to him that she is able to pay off the house. The daughter is going to be paying for the policy so she can't afford a large premium but in couple of years she wants to be able to convert the policy before the term runs out.

Stats on the Dad 62 relatively healthy and will probably get stnd+ or preferred.


Any recommendations?

 

[WinoBlues]

I met with a prospect today looking for a 10 or 15 year term with an option to convert to a permanent product down the line anywhere from 5 to 10 years.

We discussed WL/IUL/GUL and gul made the most sense to them but I'm not quite sure which company to recommend that will still offer a GUL in 10+ years.

I know its not the most popular product among carriers and having some carriers pull out of that market I want to make sure I put them with a company thats most likely to offer a GUL down the line.



They just recently bought a house together (father and daughter) and they want to make sure that if anything happens to him that she is able to pay off the house. The daughter is going to be paying for the policy so she can't afford a large premium but in couple of years she wants to be able to convert the policy before the term runs out.

Stats on the Dad 62 relatively healthy and will probably get stnd+ or preferred.


Any recommendations?

I would not count on any being available. They are best to build a plan that fits as best they can get now. Since this is a mortgage protection plan maybe ladder term or go with Protective knowing that the premium does not go up but the face drop about in half, then DT. Won't quite match the mortgage but could be close enough.

 

[JurgitaMak]

I would not count on any being available. They are best to build a plan that fits as best they can get now. Since this is a mortgage protection plan maybe ladder term or go with Protective knowing that the premium does not go up but the face drop about in half, then DT. Won't quite match the mortgage but could be close enough.

Nice signature, that video "We are Americans" ... Really people in Lithuania should also make something like that

 

[David88k]

I would not count on any being available. They are best to build a plan that fits as best they can get now. Since this is a mortgage protection plan maybe ladder term or go with Protective knowing that the premium does not go up but the face drop about in half, then DT. Won't quite match the mortgage but could be close enough.

Yea I figured as much. I don't want to get their hopes up or tell them something that I can't deliver when the time comes. I'll put together a few options for them for plain term, term + small face gul, and a custom gul that drops face amount as he ages. If only I could get winflex to cooperate.

Any term carriers you would recommend that would have other good options to convert to down the line?

 

[WinoBlues]

Yea I figured as much. I don't want to get their hopes up or tell them something that I can't deliver when the time comes. I'll put together a few options for them for plain term, term + small face gul, and a custom gul that drops face amount as he ages. If only I could get winflex to cooperate.

Any term carriers you would recommend that would have other good options to convert to down the line?

Yeah, winflex has been a pia lately.

I would not overly rely on any of them to have good guaranteed options long term. Today ONL looks good. Tomorrow, who knows. Protective aside I look term as 20 and done coverage. Term = terminates

 

[BYSFG]

You can check with ANICO.
Dont take my word on it.

If Im reading it right, its 10yr level term, conversion w/in 5 years if issue age is 61-65.

Only states conversion allowed to an ANICO perm. product.

**Youll have to do your own research with ANICO. Best of luck.

 

[WiseAgent]

I can't tell you what products carriers will have in the next 5 years, but companies like North American and Mutual of Omaha have some of the better conversion options. They will let the client convert to any perm plan they offer at the time.