You know Morgan Stanley is one of the biggest banks and are very popular for their financial products but you may now be wondering if they have a good life insurance product. The short answer is, “NO’. Morgan Stanley doesn’t have their own life insurance products but rather broker them through other life insurers. In this article we will cover them in detail and review what plans you can secure with them.
- Morgan Stanley Bank was founded in New York City in 1935.
- They may have many offices around the world, but are headquartered in the U.S and is a leader in the global integration of financial services.
- Morgan Stanley provides life insurance through some other companies and they receive their pay by commissions after policies are written.
- An annuity is a fixed sum of money that will pay you each year and it typically is for the rest of your life.
- One of the many services that this bank offers is financial advisement. As a matter of fact this is what they specialize in so if you are looking for a reliable financial advisor look no further.
- Morgan Stanley is one of the many companies that give back to communities. They have done a lot of charity work for different communities and say that because they have financial expertise, they can fundamentally improve a charity’s ability to do more good work.
- Shop around like you would when buying a new car because maybe the first company seems to offer a good rate but it’s beneficial for you and your pockets to compare quotes.
- Term Life is the most basic form of life insurance protection. It only offers death benefit and has no type of cash value or investment build up.
- Whole Life insurance is a type of policy provides a set amount of coverage for your entire life.
- Universal Life insurance is a policy that earns credit as your premiums are paid.
- Permanent Life insurance provides a lifelong protection. It also has a savings component called cash value.
- A rating from a company is important because it shows how financially stable a company is.
- InsureChance Inc., has many companies that are stable under their wing so that’s the last thing you have to worry about. Such as MetLife who was founded in 1868, Fidelity Life who was founded in 1896, Prudential Life who was founded in 1875, and many more.
About Morgan Stanley
Morgan Stanley Bank was founded in New York City in 1935. Morgan Stanley has evolved to be one of the world’s foremost financial institutions and has over 61,000 employees with 1,200 offices that are scattered among 37 different countries. They may have many offices around the world, but are headquartered in the U.S and is a leader in the global integration of financial services. Morgan Stanley offers financial advisement, products and execution to individual investors, companies, and government agencies. They offer more than 30 years of global investment experience and offers annuities, car insurance, disability, health, life and long-term care insurance.
Whole and Universal Life Insurance
Morgan Stanley provides life insurance through some other companies and they receive their pay by commissions after policies are written.
- AXA: Athena UL; This product is a universal life product that offers growth potential with loss protection. They offer investment options and have flexible premiums.
- Hartford Life: Hartford Extraordinary Whole Life NY; This whole life product offer leveled premiums and guarantee periods of 10, 15, 20, and 30 years. They offer face amounts between $100,000-$250,000.
- MetLife; Promise whole life, guaranteed advantage UL; Promise whole life offers level premiums, build cash value and comes with long-term, guaranteed protection. Guaranteed Advantage UL offers the lowest possible premium with guaranteed coverage for specified duration. This product also offers No-Lapse protection for the insured’s entire life.
- Pacific Life; Flex protection II, This product is designed for long-term needs and offer premiums that are set at policy issue and are based on the death benefit amount.
- Transamerica Life; Transace CV below 70 years of age Transace CV above 70 years of age, Transecure II; Transace CV offers flexible premiums and a no-lapse guarantee endorsement.
Annuities
What is an annuity? An annuity is a fixed sum of money that will pay you each year and it typically is for the rest of your life. This is a powerful financial planning tool that if done right, in the right situation, can create tremendous value to the annuity value. The size of your payments will be determined by different factors and one is the length of your payment period. A fixed annuity is a type of annuity contract which allows for accumulation of capital and in exchange for the lump sum, a life insurance company will allow the account to have a guaranteed fixed rate of interest. A variable annuity combines the characteristics of a fixed annuity with some benefits of owning mutual funds.
Morgan Stanley offers a list of providers that pay commissions and give the company some revenue sharing in relation to variable annuity products such as;
- AXA
- Jackson National
- Ohio National
- Nationwide
- Pacific Life
- AIG
- Transamerica
- MetLife
- Symetra
They also offer providers for indexed annuities such as;
- Lincoln
- Symetra
- Pacific Life
- Global Atlantic
Do I need a financial advisor from MS?
One of the many services that this bank offers is financial advisement. As a matter of fact, this is what they specialize in so if you are looking for a reliable financial advisor look no further. But the real question is why do I need a financial advisor? There are more than one reasons such as there is never enough time. Since there is never enough time in the world to do everything you want to do financially which can lead to quick decisions and sometimes it’s good to look for financial advisement. Another reason is because money can be a big cause of disagreements, and as a human, it’s easy to act in the heat of the moment. It’s because our emotions often overrule reason. With these kind of situations, you should look for financial advisement to have a neutral third party.
Morgan Stanley Giving Back
Morgan Stanley is one of the many companies that give back to communities. They have done a lot of charity work for different communities and say that because they have financial expertise, they can fundamentally improve a charity’s ability to do more good work. In 2014, Morgan Stanley helped the UK charity Magic Breakfast which helped East London feed hungry students who had a tough time concentrating by providing the 480 schools in the country with breakfast for all 31,000 students. Early this year the company have partnered with a 16-year-old composer (Lauren Marshall) to design Morgan Stanley’s 2017 Chelsea Flower Show Garden. Every year more than 60 associates and vice presidents in London and New York are drawn from businesses across the firm and are paired with a non-profit and spends two months developing a strategic plan the nonprofit can use to expand its scope. By the company doing this yearly, they are able to provide pro-bono services to nonprofits such as helping their business skills.
Shopping for life insurance?
When you are shopping for life insurance it’s important to always look at different options. Shop around like you would when buying a new car because maybe the first company seems to offer a good rate but it’s beneficial for you and your pockets to compare quotes. It’s also good to look at a company’s review and ratings because that’s when their true colors. It is important to read insurance company reviews because it can get very stressful trying to eliminate companies from the possibility list. This is especially stressful when all of the companies on your list have pretty good reviews. Just take a couple minutes and read some company reviews! Another good thing to do when shopping for life insurance is to familiarize yourself with some key terms such as the following;
- Term Life; What is term life insurance? Term Life is the most basic form of life insurance protection. It only offers death benefit and has no type of cash value or investment build up. You can’t really make money off this kind of life insurance, that is why this type of insurance is the most affordable.
- Whole Life; What is whole life insurance? This type of policy provides a set amount of coverage for your entire life. Your beneficiary will receive the full benefits as long as you pay your premiums, and this type of insurance accumulates cash value that can also be accessible.
- Universal Life; What is universal life insurance? This life insurance policy earns credit as your premiums are paid. Every month, various deductions, such as a charge for insurance protection, are then made from the account value. With this type of insurance, you can take out loans or make withdrawals to help you pay bills or really anything you need the immediate money for.
- Permanent Life; What is permanent life insurance? Permanent insurance provides a lifelong protection. This plan can also accumulate savings in the cash value account.
Why should I care about company ratings?
Just like we mentioned before, a rating from a company is important because it shows how financially stable a company is. It also reassures the consumers that their money isn’t going to complete waste. A good rating would be AA+, A+, or even an A- and a bad rating would be B and below. A ‘B’ technically would be moderate but why not get coverage from a top rated company? If a company is not financially stable the company will receive a bad rating. It is crucial to shop around and make sure that the insurance company has stability. I mean do you want to pay into something that won’t be around in 20 or 30 years? No! because then if something happens all the money you insured for will not be there for your family so it defeats the point of life insurance. Luckily for you, InsureChance Inc., has many companies that are stable under their wing so that’s the last thing you have to worry about. Such as MetLife who was founded in 1868, Fidelity Life who was founded in 1896, Prudential Life who was founded in 1875, and many more.
Why should I work with an independent life insurance brokerage?
Working with big boxed insurance companies means that you will not be receiving the king or queen treatment you deserve. In other words, a big boxed insurance company reads off scripts and if you don’t qualify they are not afraid to deny your coverage. Getting denied many times looks very bad and it isn’t even your fault that the people who work in the big boxed company doesn’t want to do everything they can to get you approved. Not only just that but a big boxed company will not provide alternatives because they are not about to give their potential clients an opportunity to obtain coverage from another big boxed insurance company. Independent life insurance brokerages are more personal with their clients. We can’t speak for all of them but we can conclude that independent life insurance brokerages give you more options to work with. We can say that here at InsureChance, we provide personable relationships with our clients and don’t read off stone cold scripts but actually strive to find the best rating possible even if that means our agents are not getting a big check for the policy, because we care about the quality service we provide for our clients. Look no further, contact us!
Final Thoughts
In conclusion, Morgan Stanley bank is an all around a great bank. They work with life insurance companies that will reimburse the bank with a percentage of their commissions. They are known for their financial advisory but still offer other services that catch the consumers’ eyes. Like we say many times, shop around, it will help you guarantee that you are receiving the best rate possible. Morgan Stanley Life is just another company, there are many fishes in the sea, you don’t have to settle if this company doesn’t highlight your needs and lifestyle. We work with over 60 top rated companies which just means that we have a wide variety of options for our clients. Give us a call so we can help you find the most reliable, stable, and most fit life insurance company for you and your family at 888-492-1967
