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Columbian has two underwritten whole lifes. RNA has Essential Life. I have my granddaughter on on Columbian. 75K face with RPU in 20 of 50k is 26 a month.
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RNA offers a guaranteed insurability rider
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I assume MM is Mass Mutual
So neither does both is what your telling me.
Yes MM is Mass Mutual. ON is Ohio National.
So you are saying that it is guaranteed paid up at year 20 but reduces to $50K?
Why would you want a lower DB 20 years out when inflation has made the DB worth half of what it originally was?
Usually a child needs a smaller policy that can grow with them.
Most parents would agree that it is best to start with the $50k and have it grow to $75k.
This is what the options I mentioned do.
Mass Mutual is $30/m for $50k on a 5 year old girl.
In year 30 it reaches $75k.
It gives the option to purchase $125k more in DB at certain policy anniversary dates with no questions asked.
You can also choose to offset the premium (reduce the premium) using dividends and the premiums will be offset around year 30. (the DB still rises with this option too, just not as fast)
If you just need $75k for a kid, then it would be about $10 more without the GIO rider.
But at year 20, instead of reducing to $50k. It has increased to over $80k.
It sounds like Columbian has competitive rates.
But I stand by the statement that MM has a more competitive policy, and is a much more solid company judging by financials.
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