A few clients of mine are interested in purchasing IUL that offers low expense ratio and fastest cash built-up as early as one year, which is available for a loan. I'm not working with any insurance companies that offer that. I have heard of Mutual Trust but never did any businesses with them. Any suggestions? Thanks.
Which Life Insurance Company Offers Fastest Cash Built Up?
- Thread starter snlam
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- 847
Look into F&G. But you might be mindful of anti money laundering if they want loans available within the year. Just sounds fishy.
I would be very cautious.
Maybe they have liquidity concerns...
- 4,132
No, usually when a prospect is telling you exactly what they want, they have something funky in mind. First thought would be the "be your own bank" stuff. or yea, money laundering.
- 15,041
Real people with liquidity concerns don't stick it in a life policy.
I'm with Larry. Either they ran across BYOB, COW, or LEAP and think they can do it from year one or there is some money laundering going on. More likely the former, but watch out for the later. Document, document, document if you do it. It will probably set off some red flags when that loan happens in the first year.
You guys must be exhausted from jumping to conclusions. There's nowhere near enough information in the OP's post to know why they want what they want.
What's the single biggest issue that a consumer raises when they look at the typical perm policy illustration shown by the typical agent?... the GOOSE EGG in the cash value column at the end of the 1st and even 2nd year.
The OP didn't quantify how much CV they asked about at the end of the 1st year. I rarely show an illustration that doesn't show at least 30% CV to AP at the end of the first year.
Another thing is I doubt it was the prospect specifically asking for an IUL with loan availability at the end of the 1st year. That sounds like the agent's words, not the prospect's.
Bottom line... need more info.
What's the single biggest issue that a consumer raises when they look at the typical perm policy illustration shown by the typical agent?... the GOOSE EGG in the cash value column at the end of the 1st and even 2nd year.
The OP didn't quantify how much CV they asked about at the end of the 1st year. I rarely show an illustration that doesn't show at least 30% CV to AP at the end of the first year.
Another thing is I doubt it was the prospect specifically asking for an IUL with loan availability at the end of the 1st year. That sounds like the agent's words, not the prospect's.
Bottom line... need more info.
- 10,326
NAs Rapid Builder IUL will have the most cash the quickest.
Many major IUL carriers allow for a "waiver of surrender" Rider which makes the CV equal to premiums until it reaches positive ground.
Many major IUL carriers allow for a "waiver of surrender" Rider which makes the CV equal to premiums until it reaches positive ground.
Yes he wants an insurance company from India.
