Who Are Your Go to Carriers?

[WinoBlues]

Definitely compare commission levels both ways first though.

Same with Ohio National. Check with a regional GA vs. a GA that is way out of their local region. Huge differences.

Add to that ONL's tiered comp schedule. Makes it hard for an independent unless they put a significant amount of business with them.

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Someone mentioned Sagicor earlier. I admit that I've only had limited experience with them but I've found their underwriting to be extremely tough and have never had a policy go through with them.

When I try to find out what the problem is with a application, I'm given the run about. Needless to say I dropped them after a bit.

I've always found Pru and Banner to be could companies.

I like Pru and banner for FU term as well.

I have had the opposite experience with Sagicor GUL. Need to understand that it is Non Med, not SI Issued. Also it is computer underwriting and if sent to underwriting review it usually is something that we already are aware of and just need to clarify with an email.

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Go to carriers all depend on the product.

For Term & GUL I mostly use LFG & MNL/NA. Protective, AG, Met, Pru are all good term carriers as well.

For IUL I use MNL/NA & LFG. MNL/NA has the best IUL hands down imo. UW isnt as loose as LFG though.

For participating WL it is MM, Guardian, & Penn all the way. ON is a strong choice too.

For IAs I like AE, AG, NWL, GA
For FAs MNL/NA, Guggenheim, F&G, Deleware


Lafayette WL does not compete well with MM/Guardian/Penn last I saw a comparison.

Ditto. LFG has been very good for me. They do like larger cases as well.

 

[heynow5]

What strengths does Lincoln have that make up for the lower cap?

 

[scottstreet]

What strengths does Lincoln have that make up for the lower cap?

Easier underwriting w/table shave
WOP that covers overfunding

 

[Golfnut2112]

https://www.llic.com/lifeinsurance/marquiscentennialindexeduniversallifeinsurance

They do not sell it anymore haven't in over a year

 

[scagnt83]

What strengths does Lincoln have that make up for the lower cap?

If you do historical lookbacks at a 12% Cap vs. a 13% or 14% Cap there is not a huge difference. Plus, LFG gives you a 1% yearly Floor. Add to that they offer a table shave, more lenient UW (especially for over age 50 & big cases) compared to NA/Axa/etc, strong renewal rates, and strong loan options. Plus they are an easy company to do business with that has a decent amount of resources and support for independent agents.

 

[DHK]

They do not sell it anymore haven't in over a year

Then I stand corrected.

One would think that they'd make their public facing website current... but at the bottom of that particular page it does say:
LL-0712 (08/12)

while also saying:
Last Updated Date 11.06.2015


Eh. Maybe it's just as well that I don't work with them.

 

[DWPCL]

If you do historical lookbacks at a 12% Cap vs. a 13% or 14% Cap there is not a huge difference. Plus, LFG gives you a 1% yearly Floor. Add to that they offer a table shave, more lenient UW (especially for over age 50 & big cases) compared to NA/Axa/etc, strong renewal rates, and strong loan options. Plus they are an easy company to do business with that has a decent amount of resources and support for independent agents.

I dont mean to hijack the thread but you brought up AXA...

They have a very good IUL but they have a fantastic LTC rider. The only one that I know of that has an increasing benefit pool for LTC if you select an increasing death benefit. I've been using AXA and John Hancock as my primary carriers.

Anyway, I had a marketer tell me that AXA recently raised the COI on some of its in force policies. Has anybody else heard about this?

 

[scagnt83]

I dont mean to hijack the thread but you brought up AXA...

They have a very good IUL but they have a fantastic LTC rider. The only one that I know of that has an increasing benefit pool for LTC if you select an increasing death benefit. I've been using AXA and John Hancock as my primary carriers.

Anyway, I had a marketer tell me that AXA recently raised the COI on some of its in force policies. Has anybody else heard about this?

I havent heard of them raising expenses, but I do not sell them either.

It has always looked like a strong policy. But here is my take on choosing a carrier for a cash value policy. I want a carrier that is first and foremost a life insurance carrier. If a large part of their revenue comes from life insurance sales, especially IUL sales, then they have a greater incentive to have strong renewal rates/caps/expenses.

If you look at NA's business model, life insurance, specifically IUL, makes up a HUGE percentage of their revenue compared to many other IUL carriers.

LFG is more spread out than NA, but they still make a very large portion of their revenue on life insurance sales. So this means that they have a heck of a lot more skin in the game when it comes to IULs.

If Axa suddenly jacks up expenses on inforce business, then they will likely see a decline in sales from indy agents. But only a small portion of their revenue comes from IUL sales. So it would not hurt their profitability. If NA or LFG had a major decline in IUL sales it would be a major issue for the carrier. So they have a large incentive to do right by their IUL clients.

Same goes for CV WL. Guys like Guardian, Mass, NYL, ONL, Penn, etc. they make a large portion of their revenue off of life sales. And their policies are usually purchased over others specifically because of the dividend history.
If they suddenly failed to pay a dividend one year, then most indy agents likely wouldnt touch them with a ten foot pole anymore.

So just by their business model alone, carriers like the ones mentioned have a larger incentive to keep IUL clients/agents happy vs. some others that are in the IUL market. Do you think that Nationwide would lose a bit of sleep if they stopped selling IUL? Do you really think Axa would with the huge amount of advisory business that they do? Maybe I am not as informed as I think I am about Axa's business model. But I would guess that IUL sales make up just a small fraction of overall revenue. Same with Trans & Nationwide.

jmo

 

[TwiLight]

I don't see anyone mentioning Nationwide at all.

I have found them becoming more of a player in my bag, especially for Life products and Living Benefits for $500k + cases.

I agree with the LFG choice for $500k+, they are my go to carrier at that face.

 

[scagnt83]

I don't see anyone mentioning Nationwide at all.

I have found them becoming more of a player in my bag, especially for Life products and Living Benefits for $500k + cases.

I agree with the LFG choice for $500k+, they are my go to carrier at that face.

I mentioned Nationwide just because they are getting more popular in the IUL world and serve as a good example of what Im talking about. I do not dispute that they have a decent product with strong living benefits. But they do not have nearly the incentive that NA does to keep renewals competitive.