Ohio National (New 10-17)

Released 10/2/17.  The long wait is finally over, but  Unfortunately Ohio is a major disappointment: the costs are low, but it also has a Low Cap (10.5% on S&P) and no VLR cap.  The Year 40 CV (net loans / M50) is only 14% that of the top IUL.  For those combination of reasons I have to give it a “D” at best and recommend DO NOT SELL or BUY.   This is an IUL only a captive agent or one ignorant of how others perform, could present to anyone.  I take no pleasure in saying this.  How can a co. take so long to design their IUL and do it so poorly?

Deal Breakers:

  • No VLR Cap
  • Low Index Cap (10.5% S&P)

Other Features (some):

  • There are 3 index options (1 yr. pt-pt only): S&P, Russell and EuroStoxx 50.
  • Guaranteed Bonus 0.30% starting yr. 11
  • Variable Loan Rate (no cap). Can switch annually between Fixed Loan Rate.
  • Option: Chronic Care
  • Index sweep 15th of each month
  • After yr. 5, death and surrender value true-up at 2%.
  • Interim Account: to hold ‘premium’ to transfer into IUL monthly for $ cost averaging.

For more information: www.virtusiulfits.com

Comments are closed.