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I met someone and their son is a director at Morgan Stanley. He told me to give him a call and potential have a talk about working there . How are Morgan Stanley advisors compensated. I ask because I left another firm and they have tried to charge me charge backs on commissions that have come back.
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I do some Life/LTC combo products like Moneyguard. Not a huge focus, but I am in the process of doing one for 100k for a client.
Moneyguard is nice, especially with the new flex pay options. More accessible for people with a lot of qualified assets. I like PacLife's product better. Inflation rider and easier and faster underwriting than Moneygaurd. I did a few in December as they just changed the minimum to $60k as of 1/1.
Yes, and without the possible tax issues. It is truly a 100% money back product. The two are slightly different, but in all of the cases I've run (which admittedly is only 2-3) Pac Life beats MG.
I don't think it is approved in my state yet. Once it is I will check it out. What i like best about MG is the money back guarantee. Does Pac offer that??
Nationwide and State Life have them well.
I think they are better that straight LTC. At least someone is going to get some money. LTC is a Sunk cost if you never need it. I'm suspicious of IUL b/c of caps and spreads and UL b/c of increasing costs that devour any hope of cash value. I use dividend paying WL with LTC rider. People like Moneyguard because they can get their money back, but I say why bother if you are not going to commit to needing LTC and having a WL policy that will grow and have real cash in it imo gives my clients the best outlook.
$12,000 per month is about right. I've seen it range from $7-15k. I have had several clients I inherited with no ltc watch their savings evaporate quick. Sell life/ltc hybrid policies to all your 40 and 50 year old clients.
What do you guys think about the new hybrid life insurance policies with the built in long term component? New and improved with a benefit as much as 4% on face amount.