Browse: Home / universal life
By Ed Hinerman on May 4, 2013
Two and half years ago when indexed universal life seemed to be taking over the life insurance landscape I spent considerable time studying the products and then posted my thoughts in this forum. In particular I took great exception to the fact that agents were running a muck claiming that IUL was the answer to ...read more
Posted in assumptions, cash value, death benefit, guarantee, guaranteed level premium, illustration, indexed universal life, insurance, life insurance, long term guarantee, no lapse guarantee, universal life | Tagged 8% to 13%, a little fishy, assumptions, better off under her mattress, buyer beware, consistently large cash value accumulation, don't trust indexed universal life, dynamic and flexible, enamored with interest rates, favorable loan structure, indexed univeral life insurance, inusrance, IUL, Jason Konopik, level premium and death benefit, life insurance, no lapse guarantee UL, overpriced risky investment |
By Ed Hinerman on March 26, 2013
We left off the other day with a description of Protective Life’s universal life conversion product, a product that simply defies the imagination. Since they introduced….no wait. They forgot to introduce the product. Since they gave their loyal term customers a bad UL suppository, agents and clients alike have been trying to figure out, beyond ...read more
Posted in bait and switch, conversion, Conversion to a permanent product, guarantee, guaranteed level premium, insurance, life insurance, lifetime guaranteed UL, loyal customers, over 50 life insurance, term insurance, universal life | Tagged adverse selection, bad UL, conversion option win/win, convert as investments, didn't listen to actuaries, insurance, life insurance, life settlement adverse selection, life settlements, millions of people to drink the poison, never hinted to agents, never hinted to customers, Protective life bad conversion option, Protective to greedy to listen
By Ed Hinerman on March 21, 2013
Even though Protective and West Coast Life fired me years ago I still get their propaganda and that, along with an almost simultaneous run in with a Protective abusee has once again fired me up again to remind all of you out there who have Protective linked policies, even those that go all the way ...read more
Posted in conversion, guarantee, guaranteed level premium, life insurance, over 50 life insurance, Protective Life, term insurance, universal life, West Coast Life | Tagged adverse selection, conversion option in term life insurance, determined permanent needs, honest life insurance agent, insurance, life insurance, over 50 life insurance, over 60 life insurance, policy rendered useless, Protective Life Actuaries, Protective Life protecting themselves, Protective Life term life, Protective Life term sales binge, reason for conversion option, removed permanent coverage from conversion, term life insurance
By Ed Hinerman on March 12, 2013
I had an agent questioning me about indexed universal life today. He admitted he was a new agent. He also admitted that one of his primary attractions to the product were the high premium and high commission. Call me old fashioned but I emailed back to him and asked him to give some serious thought ...read more
Posted in guarantee, Independent agent, indixed universal life, insurance, life insurance, universal life | Tagged 8.5% annual interest assumed. show nothing but assumptions, Carl Locke, deception, high commission, high premium, indexed universal life, insurance, lack of candor with client, life insurance, Pacific Life, putting client's first |
By Ed Hinerman on December 29, 2012
It’s one thing when a lack of customer service results in you not getting your empty coffee cup refreshed, but when a life insurance agent goes south on service and the life insurance company they represent joins them on the beach it can end in disaster. When a life insurance agent doesn’t explain with a ...read more
Posted in customer service, guarantee, guaranteed level premium, honesty, insurance, lapse, life insurance, over 50 life insurance, universal life | Tagged agent doesn't explain, Allstate agent, Allstate agent lack of customer service, Allstate lack of customer service, Allstate life insurance, Allstate universal life insurance, borrow money from cash value, designed to go on forever, failed their customer, implosion of universal life, in force illustration, insurance, life insurance, not sold base on guarantees, over 50 life insurance, policies that fell apart, policy gone to crap, sold based on assumptions, top agent was a liar, traditional universal life |
By Ed Hinerman on December 3, 2012
Over my career in life insurance I’ve run across some really sleazy things done by life insurance agents that in no way helped the client but definitely made the agent a great payday. Our industry has some checks and balances in place to try to hold down unscrupulous replacement practices, but the truth is if ...read more
Posted in cash value, financial adviser, guarantee, insurance, life insurance, Met Life, universal life, variable universal life, whole life | Tagged $133k commission, 1035 rollover, 8% annual growth not guaranteed, cash value, dividend paying company, guaranteed cash value, guaranteed death benefit, insurance, life insurance, MetLife, paid up additions, policy will lapse, sleazy life insurance agents, universal life, unscrupulous agents, values are not guaranteed, variable universal life, whole life
By Ed Hinerman on December 1, 2012
I get calls every once in a while from people whose spouse or parent is literally terminally ill and many times imminently terminal. I think they know the answer already but I understand that they see what’s coming and they know it’s going to be a financial hit and, after all, isn’t life insurance all ...read more
Posted in estate taxes, final expense life insurance, insurance, life insurance, no lapse guarantee, over 50 life insurance, rate increase, universal life | Tagged Actuarial Guideline 38, AG38, companies freaking out, deadline 1/1/13, estate tax protection policy, final expense policy, guaranteed death benefit to 121, guaranteed level premium to 100, insurance, life insurance, National Association of Insurance Commissioners, no lapse guarantee universal life, over 50 life insurance, permanent life insurance, rate increase, rate increase 10% to 20%, too late to buy life insurance, waiting too long
By Ed Hinerman on November 22, 2012
For months, no years now I have been writing about and telling clients about the best permanent product on the life insurance market and how, if they drug their feet long enough considering the purchase, a day would come when they would look back and say, “Dang! Wish I would have done that before the ...read more
Posted in application process, estate taxes, executives, financial adviser, guarantee, guaranteed level premium, high net worth, insurance, life insurance, no lapse guarantee, universal life | Tagged 20% higher prices, 9% higher prices, AG38, companies scared of their own pricing, estate preservation policy, final expense policy, higher reserves, insurance, life insurance, NAIC, no lapse guarantee universal life, pre increase prices, price increase, replacing AARP, universal life, Wall Street Journal
By Ed Hinerman on November 7, 2012
Whether there is anything to the Mayan calendar that predicts the end of the world next month or not, there is one thing that is an absolute life insurance fact. Because of actions by the NAIC, National Association of Insurance Commissioners, with the strict enforcement and January 1 deadline to for life insurance companies to ...read more
Posted in budget, cash value, high net worth, indixed universal life, insurance, life insurance, no lapse guarantee, rate increase, universal life, variable universal life, whole life | Tagged Actuarial Guideline 38, AG38, AG38 won't affect in force, external guarantee, external reserves, great deals to be had, high net worth life insurance client, indexed universal life, insurance, internal cash value expensive option, life insurance, NAIC, National Association of Insurance Commissioners, no lapse guaranteee UL, not on policies in force, raise rates, rate increases, traditional universal life, variable universal life, whole life |
By Ed Hinerman on October 30, 2012
There’s still two more months to go and by any measure the life insurance industry has made strides in both underwriting and product design that speak well for the future, but especially should be an eye opener right now. I’ve tried to note each change or solidification of a change as it happens, but let’s ...read more
Posted in breast cancer, cancer, insurance, life insurance, mortality risk, no lapse guarantee, prostate cancer, rate increase, term insurance, universal life | Tagged AG38 reserves, best permanent product on the market, bipolar disorder, breast cancer, clinical underwriting, compliance and control, declines in the past, insurance, life insurance, life insurance underwriting, melanoma, no lapse guarantee UL, prostate cancer, rate increase, reasonal approvals, replace failing traditional UL, second to die life insurance, significant opportunity exists. small or large permanent policies, small window to apply, Type 1 diabetes, universal life
