Are there any life carriers who would accept weekly premium payments

[yorkriver1]

Asking for a client who is seeking this possible unicorn.
They need 1mil 25 year term, age 32 standard

 

[rousemark]

Asking for a client who is seeking this possible unicorn.
They need 1mil 25 year term, age 32 standard

I don't know of any home service companies that take weekly payments anymore much less ordinary companies.

 

[somarco]

 

[Newby]

Asking for a client who is seeking this possible unicorn.
They need 1mil 25 year term, age 32 standard

He needs 1-million in coverage? But he can't pay 4-weeks at a time?
Sounds legit!

 

[Hmac]

I started out on a debit we sold weekly. The persistently. was bad. Take one week's premium to start it and a lot of times after that first premium they lapsed 30 days after the first week. We called them 5 weeks endowments plan.

 

[DHK]

Payment processing adds to the cost.

Give him these two options:
- You can pay annually.
or
- You can finance monthly.

You may want to find a company that takes a credit card for premiums and have him pay back his credit card every week.

 

[yorkriver1]

Payment processing adds to the cost.

Give him these two options:
- You can pay annually.
or
- You can finance monthly.

You may want to find a company that takes a credit card for premiums and have him pay back his credit card every week.

Definitely going to look into that secondary payment method. It's a Millenial who just doesn't want to give in.

 

[WinoBlues]

OK, this was a long time ago.

I have written quarterly. Picked up the first quarter. Then had them send in a third of that monthly. This was a long time ago so no idea if it would work now.

Unless it was an important client or referral I am not jumping through those hoops for that little comp and renewal. But back in the day I would write a frog and jump through the hoops that it took.

 

[DHK]

Progressive Millennials vs Stodgy Insurance Companies... who will give in first?

 

[yorkriver1]

I wonder if credit card payments for life insurance have fees included in the same way small businesses don't like. Otherwise why the lack of acceptance.