Banner Life

[LGilmore]

"My point is if you are buying a policy from a company like Banner, you are buying it for the death benefit"

And my point is as a professional you have a responsibility to perform due diligence when making a recommendation to a client. God forbid if someday you end up in court, you'd get eaten alive. Been there before, done that before, won that before. You don't have to do anything wrong to end up in court. But if you do end up in court, better have a sound, reasonable and defensible position to explain yourself. 6 months in the making, 5 minutes in the courtroom and a win. Thanks, I'll trust my judgment on things like this.

 

[Tahoe Ray]

eh.. Life Step UL is generally 10% higher than the Life Choice product. But it still beats companies like Protective, ING, and others who do not have a Guaranteed UL to convert to. My opinion is educate your clients about this at the time of the term sale, if they are willing to take the risk after the first 5 years then that is on them.

I find Protective competitive with Life Choice for where I'm normally writing GUL (60+). Life Step seemed to be closer to 20% whenever I looked but I do agree with your last point, especially if you're speaking with your clients consistently to remind them about this fact.

 

[TwiLight]

caps for Guarantee associations are irrelevant for most companies.....It is about Retention.

Since 95% of the Life companies out there Reinsure more than $250k of risk, you should be asking the question: "who do they reinsure with and what is their rating?"

So, if you are only insuring with the Big NY boys that have $10 million + in retention. Most are reinsured risks

 

[VolAgent]

caps for Guarantee associations are irrelevant for most companies.....It is about Retention.

Since 95% of the Life companies out there Reinsure more than $250k of risk, you should be asking the question: "who do they reinsure with and what is their rating?"

So, if you are only insuring with the Big NY boys that have $10 million + in retention. Most are reinsured risks

That does not relieve the writing company of their risk on the policy. In fact, it actually adds a new risk, reinsurance risk. They ceded premium to cede risk, but if the reinsurer fails to come through, they still remain liable for the death benefit.

 

[TwiLight]

AIG, Pru, MetLife ....That is why they call it TOO Big to FAIL.

 

[tlmarketing]

Some interesting reading about Banner, reinsurance and strength of company