tikibarrister
Guru
- 540
How is this better than a Roth IRA?My thinking is it can be a good place to grow savings, maybe eventually use it as a bank-like resource... But need to run illustrations etc.
Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
How is this better than a Roth IRA?My thinking is it can be a good place to grow savings, maybe eventually use it as a bank-like resource... But need to run illustrations etc.
Since you mention dividends, what about Augustar or Lafayette. Are they still selling par products or have they moved on like most of the others?Very strong and very long Dividend histories.
I sold them years ago. Back when they were Ohio National and had good par products.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.
AuguStar Life - Indexed whole life insurance
AuguStar Life - Indexed whole life insurance: Designed to conquer unexpected challenges, offering you protection.augustarfinancial.com
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 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.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)
Very helpful - thank you!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.
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 tockI'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?