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Final Expense Rates

midwestbroker

Guru
1000 Post Club
2,370
Columbia, MO
I just contracted with Monumental Life, and I think that their rates might be high.

Example Rates
65 Male Non smoker standard rate $5,000 DB
$39.30 per mo
Same but female
$27.89 per mo


So, what else is out there and what do their rates look like.

Thanks!
 
I just contracted with Monumental Life, and I think that their rates might be high.

Example Rates
65 Male Non smoker standard rate $5,000 DB
$39.30 per mo
Same but female
$27.89 per mo


So, what else is out there and what do their rates look like.

Thanks!

About the same as with TransAmerica. I've seen them go higher. I'm talking Standard Rates not Super Duber Prefered Rates as some will obviously mention, you know all them Super duper preferred seniors!
 
Last edited:
Baltimore Life

I just contracted with Monumental Life, and I think that their rates might be high.

Example Rates
65 Male Non smoker standard rate $5,000 DB
$39.30 per mo
Same but female
$27.89 per mo


So, what else is out there and what do their rates look like.

Thanks!

here is Baltimore lifes rates

65 male non smoker standard rate 5000 db
30.15
female is
23.85

i use senior market sales -- www.seniormarketsales.com
Pat S. is my rep --- they are really helpful in training and will go out of their way to get you going
 
I find that Cont Life has good rates....and one of their products matches your quotes.

I'm getting topped out on various carriers....it's beginning to look like the buffet line at Golden Corral...Med Advantage, Med Supps, FE, Annuities, EIL, Term, etc.......awww...and i don't have a wrap-around for an MA, or a cancer policy, and maybe the occasional accident. Hey, i also forgot LTC.....


Jeepers, creepers....THIS IS INSANE.
 
I find that Cont Life has good rates....and one of their products matches your quotes.

I'm getting topped out on various carriers....it's beginning to look like the buffet line at Golden Corral...Med Advantage, Med Supps, FE, Annuities, EIL, Term, etc.......awww...and i don't have a wrap-around for an MA, or a cancer policy, and maybe the occasional accident. Hey, i also forgot LTC.....


Jeepers, creepers....THIS IS INSANE.



lol, they all want a piece of the rich pie! lol... greed at its all time best. :goofy:
 
"I find that Cont Life has good rates....and one of their products matches your quotes.

I'm getting topped out on various carriers....it's beginning to look like the buffet line at Golden Corral...Med Advantage, Med Supps, FE, Annuities, EIL, Term, etc.......awww...and i don't have a wrap-around for an MA, or a cancer policy, and maybe the occasional accident. Hey, i also forgot LTC.....


Jeepers, creepers....THIS IS INSANE."

I agree as new agent trying to get going and get good contracts is a battle and then to prospect and finally sell something.:goofy:
 
Those rates are quite high; a 65 NS male who is a "normal" risk, should not be anywhere near that high. You are quoting a $90 per $1,000 rate (with some still left over for a policy fee). That's just way too high. The rates you are pricing are closer to the "guarantee issue" type products, for people with active cancer, congestive heart failure, in the nursing home, or with other current grave life threatening conditions such as ALS. Pricing should be at LEAST 30% lower for the risk you quoted if the man is in "normal" health. Given that your company has split rates rates for smokers and non-smokers, that rate is definitely not good. (Same goes for the female rates.)

In example, I can deliver to most 65 year old NS men that same $5,000 policy for under $30, and even less if he's pretty clean (defined by no significant health isses for the last 5 years). A "normal" woman gets out for $22. and slides in under $20 if she has no recent, significant health history.

I know of several other carriers that would offer similar rates to what I just quoted. I hope this is of help to you.

On another topic, Continental Life does offer some decent price quotes on Final Expense, but I've never been able to get their underwriters to actually issue the policy.

Rob
 
I'm looking at $27.07 for the 65yo Male NS and $22.91 for the 65yo Female NS. That's just one of the companies I have that I looked at.
 
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