- 25,900
Good Thread.
Seems like a throwback to when most were like this.
Seems like a throwback to when most were like this.
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We have a bunch of traditional life insurance agents at The Insurance Squad that could probably help better than I could, however based on what you said you may want to look at a universal life product to keep premiums down. On bigger cases like this I like to get a client through with their wishes without having to do a paramed because you never know what will pop up. Once they do the blood & urine and the case gets issued then you can always turn around and do the blood & urine if they want to try and beat the offered price. But off the top of my head my suggestion would be:
Foresters Smart UL could go up to $99,999 (NON-MED) (NO PARAMED/NO BLOOD) and target premium would be $508/month to age 100.
But I could have some of the guys on The Squad that are smarter than me help you out if you would like. You can reach me at [email protected]
You act like interest rate is THE mitigating factor in a non-guaranteed UL policy. Don't you find COI -- which is not guaranteed to remain at current projections, and which can increase up to (likely) 2x current, is a much more important consideration?
For instance, the COI spread on an 80 FT (looking 10 years into the policy life) might be something like Current: $5.50 per 1000, per month versus Guaranteed $10.00 per month, per 1000. On a 200K policy that's $4.50 x 200 x 12 = $10,800. Is 2.5% interest on a dwindling cash value going to offset that?
I would not sell a 70 year old a non-GUL. I've seen enough dead/dying UL policies to last a lifetime. I'm familiar with MoO's -- I've sold a lot of them. It looks like AIG is priced better, at least in certain sectors. But pricing, much like interest rates, can be waved as bait while the insured pays for it on the UW classification. I.E., a ST w/ the "lower priced" carrier might qualify for ST+ with another.
In other words, I don't have a recommendation for her situation, as described. I know what I would not do. I'd also feel like if I couldn't convince her to take a paramed exam, then I wouldn't feel I had enough control of her to proceed in her best interests.
I don't have a problem getting her to take a paramedic exam. But you guys keep quoting 100,000. This SON has 1000/mo to spend on his mother's insurance and he wants 200,000 or more. What if a paramed pulls something bad and then I can't get her in ANYWHERE? Phoenix offers increasing coverage with a high start of 200,000 with no paramed, living benefits and index against s&p. But I'm all ears. That's the reason I asked here. Who do u know paramed or otherwise who will offer coverage at 200000 or more in the range of 1000/mo.
Matt, quick question. Is this the blended UL? I think with a 15 year term.
I don't have a problem getting her to take a paramedic exam. But you guys keep quoting 100,000. This SON has 1000/mo to spend on his mother's insurance and he wants 200,000 or more. What if a paramed pulls something bad and then I can't get her in ANYWHERE? Phoenix offers increasing coverage with a high start of 200,000 with no paramed, living benefits and index against s&p. But I'm all ears. That's the reason I asked here. Who do u know paramed or otherwise who will offer coverage at 200000 or more in the range of 1000/mo.
I don't have a problem getting her to take a paramedic exam. But you guys keep quoting 100,000. This SON has 1000/mo to spend on his mother's insurance and he wants 200,000 or more. What if a paramed pulls something bad and then I can't get her in ANYWHERE? Phoenix offers increasing coverage with a high start of 200,000 with no paramed, living benefits and index against s&p. But I'm all ears. That's the reason I asked here. Who do u know paramed or otherwise who will offer coverage at 200000 or more in the range of 1000/mo.