Assurity's Accidental Death Plus is pretty awesome!

That post was in response to you saying you sell it as an add on to WL and Term clients. They already have something and already bought life insurance... so why is there a need to add on an extra $20/m for something that has a 94% probability of not paying if they die?

There are Non-Med DI policies available... even SI Non-Med DI. There are almost GI policies on the individual market they could look at. Or just look at amounts under the paramed limits on a traditional product.

Why push something like this on an insurable person who has already bought real life insurance? Doesnt make sense from a best interest perspective for the client.

It's affordable accidental coverage with large face amounts.

Had a lady who bought $10k WL from Carrier A and bought $100k Accidental Plus from Assurity for her son in law.

It was she could afford. The $12 ADB premium would have only gotten him $3k in additional WL. That $13k won't help his 2 kids. $110k will should he die from an accident. Based on his lifestyle - he stands a greater chance dying from an ATV wreck than he does Cancer or Heart Attack.
 
Tom...see if you can give a good answer to this question: Adding AD to a regular policy...why does the client need 2x more coverage if they die by accident? Just curious if you can come up with a good answer on that.

Case today:

Couple in their mid 30's with 4 kids. Can only afford $25k whole life on Husband + 20 year $100k Term Rider on him. His is table 4 rated bc of build.

Got her a separate $25k WL + $100k Term Rider + $10k Child Riders.

Both paid up @ 65.

On both above - can't get the Term Rider + a ADB Rider.

In his line of work - he could easily die in an accident, so he wanted a $100k AD Plus on him and the family including the extra benefits, plus with ROP for about $22 a month for 30 years.

About $135 total monthly.
 
this pic - 2 years later - 2018 - shows pretty much the same trends

leading_causes_of_death_by_age_group_2018_1100w850h.jpg
Look at the totals, though. It's a minuscule part of the population no matter which way you slice it. As you get closer to actual claims from meaningful numbers, the accidents become a tiny % of death.

Case today:

Couple in their mid 30's with 4 kids. Can only afford $25k whole life on Husband + 20 year $100k Term Rider on him. His is table 4 rated bc of build.

Got her a separate $25k WL + $100k Term Rider + $10k Child Riders.

Both paid up @ 65.

On both above - can't get the Term Rider + a ADB Rider.

In his line of work - he could easily die in an accident, so he wanted a $100k AD Plus on him and the family including the extra benefits, plus with ROP for about $22 a month for 30 years.

About $135 total monthly.
Why do these clients need WL? He could get 100k of 20-year term for under 30/mo with a T4 rating. I'm sure she would pay much less (if not rated).

I get it for some one-off cases but accidental is normally not appropriate imo.
 
Why do these clients need WL? He could get 100k of 20-year term for under 30/mo with a T4 rating. I'm sure she would pay much less (if not rated).

I couldn't get him Term with my carriers bc he is 5'7" and 265 #'s - but, was able to get the term rider on top of the wl.
 
Plenty of term options there if no underlying health issues. It just sticks out as kind of lazy. Know what happens with accidental death policies.
Scenario, terrible car wreck, life flighted to hospital, goes in shock has heart attack. Dies. Cause of death heart attack. No claim.

Does it serve a purpose, sure. I will not sell a stand alone add. I imagine my e&o provider would not be cool with it either!. Sell insurance not a gimmick. If you can't go sell knives, vaccums or some other crap.
 
Tom...see if you can give a good answer to this question: Adding AD to a regular policy...why does the client need 2x more coverage if they die by accident? Just curious if you can come up with a good answer on that.
The death is sudden and unexpected and there is no time to arrange finances prior to death as there might be in the case of natural deaths. Often there are expenses that would not occur in the case of natural death. For example, the accident might involve others that would result in claims against the estate that exceed the liability coverage that is in force.

I have been told by an actuary that the payout margins are the same for the AD as the base coverages. The AD does payout as often but the premium is a lot less.
 
Plenty of term options there if no underlying health issues. It just sticks out as kind of lazy. Know what happens with accidental death policies.
Scenario, terrible car wreck, life flighted to hospital, goes in shock has heart attack. Dies. Cause of death heart attack. No claim.

Does it serve a purpose, sure. I will not sell a stand alone add. I imagine my e&o provider would not be cool with it either!. Sell insurance not a gimmick. If you can't go sell knives, vaccums or some other crap.
Your E&O carrier has no problem with your selling stand alone AD plans as long as you are licensed to sell them. Since when are knives, vacuums, etc. crap? They serve very useful purposes that make our lives easier. Ever tried cutting a good steak with a straw?
 
Your E&O carrier has no problem with your selling stand alone AD plans as long as you are licensed to sell them. Since when are knives, vacuums, etc. crap? They serve very useful purposes that make our lives easier. Ever tried cutting a good steak with a straw?
Other than selling newspapers, seeds and Christmas cards door to door when I was a kid...my 1st sales job was selling Rainbows and for a while we gave away a set of steak knives for 20 referrals.:yes:
 
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