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I would say LFG and Penn Mutual. I sell mostly LFG when it comes to IUL
Penn has a better guaranteed rate (2%) compared to LFGs (1%).
LFG has the "overloan protection rider" and Penn does not.
LFG has lower internal expenses (im 99% sure about this... at least after year 10)
The historical average of the yearly p2p cap is about the same for both companies (11%-12%)
LFG has 3 different DB options and I believe that Penn only has two. (LFG has a "max CV" DB option)
They are both great products. For a 20 year historical average, both come out to about 7.5%-8% per year for the crediting rate
What's the most competitive IUL in the market at the moment?
Penn's product definately has the edge over LFG, at least currently.
two points above that were mistated...
Penn Mutual's IUL does indeed have "overloan protection rider"...at no cost.
Penn Mutual' product has 5 death benefit options (increasing, level, level to increasing, increasing to level, and variable)
IUL is the only niche that I use Penn for....I researched for the best IUL and this is what I picked. When you compare all of them on the market place Penn's product is the best overall, and more importantly Penn is the highest rated carrier that offers IUL....interesting point to consider
How do Penn's internal fees compare? Would you mind posting a breakdown of the expenses?
What is their loan rate?
Penn has two loan options, a traditional fixed loan or a indexing loan. With the fixed rate loan, the loan rate is 4% guaranteed.....the policy is direct recognition as the loaned values will earn 3% guaranteed for 10 years and then 4% (wash loan) thereafter.
The indexing loan allows for a unique arbitrage. The fixed indexing loan rate is 6% for life, however this loan option is "non-direct recognition" and the loaned cash values receive the same crediting rate that un-loaned cash values in the indexing account earn. So if the market goes up 14% the client will be credited 14% on loaned values and only charged 6% interest. Conversely, if the market loses 14% the client will get 2% and have a total net loan cost of 4%.
Let me know that best way that I could show the internal cost breakdown for Penn's IUL for you.