Infinite banking/ Be Your Own Bank

Roth has a contribution cap, the whole life doesn't? The whole life will have WPD, the Roth won't? The whole life has a death benefit, the Roth doesn't?
 
Augustar is not mutual. They do sell whole life, but it's indexed, not a traditional dividend-paying whole life.

I haven't viewed their website until now. I'm not impressed.
I sold them years ago. Back when they were Ohio National and had good par products.

I dropped them when they screwed over their annuity agents.

I miss the old days when there were plenty of smaller, mutual companies to choose from. State Mutual, Columbus, Lafayette and several others.
 
I sold them years ago. Back when they were Ohio National and had good par products.

I dropped them when they screwed over their annuity agents.

I miss the old days when there were plenty of smaller, mutual companies to choose from. State Mutual, Columbus, Lafayette and several others.

Lafayette is still around.

Columbus Life is still around, but stopped selling WL. They are all IUL now.

I sold some with ON, but started to get bad vibes from them so I moved on.

In the dividend paying mutual world, size matters.

ONs financials prior to demutualization look eerily similar to Penn Mutuals financials over the past few years. Same with product distribution.

ON went on a race to the bottom on Term and DI premiums. Penn has done the same with Term.

ON had some of the strongest illustrations available. So does Penn.

ON leaned into any WL sales concept they could, regardless of its voracity. Same with Penn. (Penn is currently fighting felony RICO charges because of this)
 
Lafayette is still around.

Columbus Life is still around, but stopped selling WL. They are all IUL now.

I sold some with ON, but started to get bad vibes from them so I moved on.

In the dividend paying mutual world, size matters.

ONs financials prior to demutualization look eerily similar to Penn Mutuals financials over the past few years. Same with product distribution.

ON went on a race to the bottom on Term and DI premiums. Penn has done the same with Term.

ON had some of the strongest illustrations available. So does Penn.

ON leaned into any WL sales concept they could, regardless of its voracity. Same with Penn. (Penn is currently fighting felony RICO charges because of this)
I started in the early seventies. You could take any par WL and run circles around the competition. And everyone met their dividend projections and then some.

But all of this was before UL came along. Then there was the demutualization thing. State Life was the first to do it. Up until then none of us had even heard of such a thing.

Now we've got UL, IUL and all kinds of UL. Hell, these days you're expected to know stuff.
 
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To expand on that...

Ameritas has the lowest dividend history and not the best cash growth in comparison.

Penn Mutual has really strong illustrations... but their financials are not nearly as strong as the big 4. For a while, their life unit was paying more in dividends than they were earning in premium.... not a healthy sign.

Guardian, Mass, NYL, & NWM are independently rated to be the absolute safest financial institutions in the US.

Very strong and very long Dividend histories. Very similar policy options and performance.

NWM is 100% captive.

NYL is mostly captive, you need the right connection or large enough premium to write them as an indy.

That leaves Guardian and Mass for the independent agent.

Cant go wrong with either option.

Guardian allows Loan flexibility that Mass does not.

Mass offers greater PUA flexibility long term vs. Guardian.

Guardian has more accommodating underwriting vs. Mass. Especially for build, smokeless tobacco, cannabis, & sub-standard health conditions.
Very helpful - thank you!
 
I'm terrible math, but I have a reasonable handle on human nature... banking on your self sounds great, until you look at the person responsible for making the business decisions at your bank... what's their track record to this point?
Bingo--even many of the best designed plans fail because the bank CEO decided to stop funding the deposits after 3,5 or 10 years but took out max loans against the assets the bank owned.......tick tock, tick tock

I own a lot of it, but have seen many, many consumers get into the banking business via WL/IUL/VUL & mismanage the bank & have run on the bank in year 5 of a 45 year plan due to divorce, health problem, bass boat, seasonal cabin, etc.....................and that is in the best designed plans. imagine how it works when the agent helping build the bank doesnt have a clue what they are doing to start
 
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