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What is the lay of the land out there as far as term policies that allow you to increase benefit amount at a future date without additional underwriting (not talking conversion to whole life, just increase in face amount or term length)
I am not familiar with this type of policy but am trying to make sense of what clients already have or say that they have. I gather that Primerica has some type of policy like that and I spoke briefly with a prospect the other day who says that he has a John Hancock policy of some sort that is like that. I am trying to sort out what is real and what is misunderstanding. Who has policies like this? For the most part, when I hear about an increase without underwriting it does not compute, but then again there is some wacked out overpriced stuff over in the Primerica world and elsewhere that I don't know anything about.
Comments please.
Winter
I am not familiar with this type of policy but am trying to make sense of what clients already have or say that they have. I gather that Primerica has some type of policy like that and I spoke briefly with a prospect the other day who says that he has a John Hancock policy of some sort that is like that. I am trying to sort out what is real and what is misunderstanding. Who has policies like this? For the most part, when I hear about an increase without underwriting it does not compute, but then again there is some wacked out overpriced stuff over in the Primerica world and elsewhere that I don't know anything about.
Comments please.
Winter