FE ALBR Riders

[Lawsonhj1]

It might be easier for a person to use funds from the ALBR to purchase cemetery and or funeral arrangements in advance and make things a bit easier on their loved ones. Sometimes they might even get a discount for purchasing before need.

 

[LostDollar]

Do most carriers treat accelerated living benefit riders like a policy loan and charge interest on the amount accelerated?

No... There is usually a "processing fee" but that is it.

(Not an agent.)

I was hunting for a particular type of rider.

In the process, I've just discovered a carrier appears to be an exception to that. They seem to treat the accelerated benefit as a lien with both an administrative fee and accrued interest.

I am quite limited in the information available to me since I am not an agent, but I think I am beginning to see that there are so many variations in the way companies choose to handle these benefits that I am not sure it is possible to make generalizations about their characteristics which will apply to all of them.

 

[Cornelius]

It might be easier for a person to use funds from the ALBR to purchase cemetery and or funeral arrangements in advance and make things a bit easier on their loved ones. Sometimes they might even get a discount for purchasing before need.

That's usually the terminal illness benefit I would assume. Most policies at least have that.

 

[LostDollar]

Most abrs on Fe are pretty worthless.

It seems to me such a small benefit for such a big problem.

LD, you need to get of your high horse when dealing with agents.

I was responding to a person (occupation irrelevant) whose posts seem to suggest they would say to a terminally ill person considering drawing a few thousand dollars from a life insurance policy; something like

Just quit whining and die and let the policy beneficiaries use the money in a way that will have some positive effect

I just take exception to someone not in the position of the ill person presuming to speak for them in that way.

 

[LostDollar]

Agents second guess clients desires all the time. It comes with the territory of giving the best advice possible to the client.

I do not have the same certitude about this that you do.

In the last 5 years I have made two purchases of Medicare Supplements.

I talked with 6 agents to make those purchases. In 5 of the 6 cases I was second guessed as to the product and the carrier. This was nothing more than an out and out money grab for commissions on the part of the agents. It had nothing to do with my best interests. In the 6th case I was essentially second guessed on the carrier I wanted because the agent was not contracted with them. I finally made the purchase from him because of all the posts here stressing the importance of having an agent.

The agent I made my most recent purchase from went so far as to attempt to sell me a Medicare Advantage plan (after agreeing by email to sell me exactly what I wanted to buy). He was most definitely not working for my best interests. The only reason he got my business is because I was under time pressure to get this coverage in place and did not have time to research and hunt up another agent. I just had to wait him out until he was ready to sell me what I wanted to buy. I am also terribly disappointed because I now have an agent I can't, in good conscience, recommend to anyone else.

 

[rousemark]

I do not have the same certitude about this that you do.

In the last 5 years I have made two purchases of Medicare Supplements.

I talked with 6 agents to make those purchases. In 5 of the 6 cases I was second guessed as to the product and the carrier. This was nothing more than an out and out money grab for commissions on the part of the agents. It had nothing to do with my best interests. In the 6th case I was essentially second guessed on the carrier I wanted because the agent was not contracted with them. I finally made the purchase from him because of all the posts here stressing the importance of having an agent.

The agent I made my most recent purchase from went so far as to attempt to sell me a Medicare Advantage plan (after agreeing by email to sell me exactly what I wanted to buy). He was most definitely not working for my best interests. The only reason he got my business is because I was under time pressure to get this coverage in place and did not have time to research and hunt up another agent. I just had to wait him out until he was ready to sell me what I wanted to buy. I am also terribly disappointed because I now have an agent I can't, in good conscience, recommend to anyone else.

So you and the agent have a difference of option.. How do you know that he does not sincerely think MAPD is a better buy than Med Supp?

 

[rousemark]

I was responding to a person (occupation irrelevant) whose posts seem to suggest they would say to a terminally ill person considering drawing a few thousand dollars from a life insurance policy; something like


I just take exception to someone not in the position of the ill person presuming to speak for them in that way.

You have a habit of reading into people's posts things they did not say.

 

[LostDollar]

So you and the agent have a difference of option.. How do you know that he does not sincerely think MAPD is a better buy than Med Supp?

In order to minimize the time this agent spent with me on the phone and to eliminate any misunderstandings, I had either two or three very specific email exchanges with him concerning exactly what I wanted to buy, both the product and the carrier. He agreed that he could do that and I scheduled the phone interview with him.

He then started the phone interview by wanting to sell me a Medicare Advantage plan. Which I did not agree to discuss or buy. And you will notice I did not say Medicare Advantage Prescription Drug Plan. That was deliberate. He wanted to sell me an MSA, which is totally unsuited to my situation. Discussions about that product here two years ago showed me that very clearly.

 

[rousemark]

In order to minimize the time this agent spent with me on the phone and to eliminate any misunderstandings, I had either two or three very specific email exchanges with him concerning exactly what I wanted to buy, both the product and the carrier. He agreed that he could do that and I scheduled the phone interview with him.

He then started the phone interview by wanting to sell me a Medicare Advantage plan. Which I did not agree to discuss or buy. And you will notice I did not say Medicare Advantage Prescription Drug Plan. That was deliberate. He wanted to sell me an MSA, which is totally unsuited to my situation. Discussions about that product here two years ago showed me that very clearly.

But everybody does not agree with the conclusions arrived at int the discussions two years ago.

 

[goillini52]

Hahaha, 2 old farts going at it. Popcorn time.