Is CV a marketing gimmick in VUL?

[djs]

I would refer her to an agent with a major player (if you know one) like Mass, NML or NYL to review the policy and see what she can do. It might be in her best interest to replace it and do a 1035 exchange if he can pass underwriting. If not, maybe change the investment positions to try and earn at least as much as the interest to keep the DB level on the policy.

Wouldn't the surrender charges start over again? I always mess up these rules.....

Dan

 

[LGilmore]

"Is CV a marketing gimmick in VUL? ""

Well I guess this is the same as posting "need help decoding how a VUL policy works?"

Sorry, I'm sure you're a great guy and all, but honestly, that's asking for help?

It's more like a line straight out of AL Williams flyers....

So forgive my lack of trust and I'll forgive how you framed a question asking for help.

 

[Guest]

"Is CV a marketing gimmick in VUL? ""

Well I guess this is the same as posting "need help decoding how a VUL policy works?"

Yeah, OK. Sure. I'm AM trying to figure out how these vehicles work. "Help" is what this board is all about.

Sorry, I'm sure you're a great guy and all, but honestly, that's asking for help?

I thought so. I surely was not trying to advocate for or against VULs... mainly because before this thread (and Dave F.'s post) I could not even spell VUL without being spotted the V and the L!

It's more like a line straight out of AL Williams flyers....

And that would be who? Any relation to Ted?

So forgive my lack of trust and I'll forgive how you framed a question asking for help.

Correct me if I'm wrong but most requests for help are usually framed with a question... like "what time is it?" or "Is zero-prem life a fraud?"

My objection was that you kept saying that I was giving "advice." How could I do that? If I could, I would not be here asking for help!

Anyway, in response to Dave, I sent the woman to a NYL friend of mine who has been with them for 30 years and I'm sure he can give her the advise that I most assuredly cannot give, don't want to give, and am not licensed to give.

I do health. I know health. That's enough for my tiny brain.

All's well that ends well.

Thank you LGilmore, and Dave and others for giving me a bit of education on VULs. I'll leave them to the guys and gals who 'love the numbers' and who have the requisite credentials for this sector of the financial world.

Al

 

[LGilmore]

"And that would be who? Any relation to Ted? "

THE

 

[LGilmore]

"And that would be who? Any relation to Ted? "
try that again...

that would be arthur williams the "coach" the founder of primamerica.
the coach would teach folks just enough to attempt to discredit something without teaching enough to know if what they were implying was actually true or not...

the idea was to raise doubts and venture questions that weren't realistic but said with enough conviction, sounded real enough... that is why I asked about the fishing...

sorta like how you are framing these questions.. with doubt about the product. Even though you say you don't know enough, your phrasing starts these products out in a hole, rather than on equal footing...

Maybe you're Jerry Stienfield or something (nasal tone) "What's the deal with the cv of vul's? I mean "really", what's the deal?"

"I do health. I know health. That's enough for my tiny brain."

fair enough.

having sat through a few of these battles with primamerica people in the long ago past, and I'm sure theres a few who post here, the concept of only one product works be it term, wl, vul, ul etc.. is usually the sign of a part timer.

I mean what works in health a ppo, indem, hmo, hsa?

Doesn't it simply depend on what the customer wants? Don't all of them offer something to somebody? I'm sure you don't (at least I hope) look at the variety of providers and health coverages available to sell and decide this one company and single product is right for everybody, everytime?

I mean there are companies that have you right out of training school believing what you have in your hand is the ONLY solution to the world's needs. It wasn't just Art and his bunch.. the big guys did it too...at one point or another we all drank somebodies cool aid. It usually takes a little while to appreicate the variety of good companies and products we can offer people.

 

[Dave020]

Good move and I would look into the opportunity for cross-referrals if you are not already doing it with that agent. She will get solid advice on the best options for the policy.

On a side note, when I was with NML, there was this one assistant who was a whiz on the illustration software. She once spent an hour showing me how to produce reports on the internal ror on each of the subaccounts of the VWL policy.

 

[Survivor]

Couldn't she do a partial surrender for the amount of the loan to repay it back that way. If I'm correct, she will just reduce her cash value and death benefit by the amount of the partial surrender.....plus some surrender charges of course.

If the full DB is very important to her, can't they just apply to add more insurance to the policy, (assuming they get approved for the additional amount), execute the partial surrender which would essentially cost her that portion of the cash value, and still have the full death benefit?

I'm sure premiums would change a bit though because the net risk would increase -- correct?

 

[Guest]

Couldn't she do a partial surrender for the amount of the loan to repay it back that way. If I'm correct, she will just reduce her cash value and death benefit by the amount of the partial surrender.....plus some surrender charges of course.

The DB is down from 500K to 460K. How would a partial surrender work?

If the full DB is very important to her, can't they just apply to add more insurance to the policy, (assuming they get approved for the additional amount), execute the partial surrender which would essentially cost her that portion of the cash value, and still have the full death benefit?

I suppose this makes sense to someone... but not me. I'm not a WL expert (or even very knowledgeable!). Anyway, the insured is 83 years old and not in terrific health. I doubt more insurance would be issued.

I'm sure premiums would change a bit though because the net risk would increase -- correct?

It is a paid-up policy. It was a single-prem policy when bought. There are no premiums... never have been since the first one.

Thanks,

Al

 

[GreenSky]

Al -

Just curious about something. Since you are not securities licensed, by your own admission you don't know these types of policies, and you can't help this person...

Why are you making such a big deal about learning about VUL?

No problem with just general knowledge but how much time do you really have on your hands?

Rick

 

[Agent Jeff]

Al -

Just curious about something. Since you are not securities licensed, by your own admission you don't know these types of policies, and you can't help this person...

Why are you making such a big deal about learning about VUL?

No problem with just general knowledge but how much time do you really have on your hands?

Rick

I bet I can aswer that. As James pointed out, it's pretty hard to make much selling only term insurance and if you don't particularly believe WL or UL have any power (with today's low interest rates and low tax rates), that leaves as the only other option getting a broker/dealer, a 6+63, and selling VUL.