damadcrapper
Super Genius
- 171
Do most carriers treat accelerated living benefit riders like a policy loan and charge interest on the amount accelerated?
FE ALBR Riders
- Thread starter damadcrapper
- Start date
No... There is usually a "processing fee" but that is it.
- 357
Most abrs on Fe are pretty worthless.
- 20,003
I don't know about that that. I've had a few clients use it. It was a godsend to those people.
- 357
Fair enough JD. Can you explain how, and I am not being argumentative. It seems to me such a small benefit for such a big problem. I have seen it first hand on larger policies. Just curious. I always appreciate your insight.
- 20,003
Granted, it was a lot of work for me. And they might as well accelerate the whole thing on smaller policies.
I would prefer to not have to deal with one again but they are used.
Even the companies don't deal with it enough to be well versed in the process.
- 357
Fair enough. Thanks for the reply
- 7,424
WHO ARE YOU to second guess a person using financial resources they DO have to attempt to address a need for medical care?
LD, you need to get of your high horse when dealing with agents. He is simply stating he does not see the benefit in IN FE ABRs. He certainly has the right to that opinion. But to his credit, he is open minded to other opinions and is asking JD to expand on his view. That is the sign of a good agent and the purpose of this forum is the exchange of ideas...
As for "using financial resources they DO have to attempt to address a need for medical care?" they are also using resources that were designed and set aside to take care of needs at death.
Agents second guess clients desires all the time. It comes with the territory of giving the best advice possible to the client.
Depends on the seriousness of the situation facing the insured. Some will take the money just because it is available; blow it and leave the family in dire straits when death occurs. But if it helps a person hold onto their home, etc., then it can be a good thing, Even though we often tend to treat it as such, life insurance, including FE is not one size fits all.
