Fully Underwritten vs Simplified Issue vs Guaranteed Issue

[rmhaire]

Ok, so there is something else I guess I need to consider if I decide to do this.

Possible approx decrease in annual premium of $1K if I use a fraternal insurer.

I can't remember the specific issues any more, I just remember reading discussions about fraternal vs non-fraternal several years ago and deciding I would prefer to have non-fraternal coverage if I ever had to choose.

I believe you're referring to @rousemark. I think he posted on fraternals a year or so ago. Just don't hold me to it.

Years ago, I used Midland National for people that were 80 plus. They were quite liberal on their age range back then and quite competitive.

But that was years ago and always UL. No idea what they're doing now.

 

[jdeasy]

Ok, so there is something else I guess I need to consider if I decide to do this.

Possible approx decrease in annual premium of $1K if I use a fraternal insurer.

I can't remember the specific issues any more, I just remember reading discussions about fraternal vs non-fraternal several years ago and deciding I would prefer to have non-fraternal coverage if I ever had to choose.

If all things were equal I might prefer a non fraternal over fraternal.

Be a close call. I like that fraternals could act quickly if there was a problem.

Only thing that would make me consider non fraternal is the SGA.

But I’ve learned over the years that’s a bigger mess than any insurance company.

Just look at the CB thread.

And I experienced it first hand as a Shenandoah agent when they went thru receivership.

I don’t like what KSKJ or RNA did but I still have policies with both and am not moving them.

We have a large annuity with KSKJ.

The difference in premium for you I wouldn’t hesitate for a second to recommend a fraternal for you.

But don’t go with any company you are uncomfortable with.

I won’t write mofo for 200% commissions.

Same for the debil, Humana. Even when I did a lot of Medicare I wouldn’t write Humana.

You have to live with you. Do what’s best for you on your terms.

 

[FEX Quotes]

So, Kansas, M, no tobacco, age 80, $10k

What would Trinity charge for the single premium version of the First Whole Life?

Another idea would be to put the premium required for a 10k SPWL into a 5 year CD

 

[Newby]

Scott i was looking who your quotes are with . I was looking at those old interviews you did in 2013 and 14. You interviewed some new agent back in 2013 named Gary W . I was laughing he was using direct mail leads from Momentual life. They were bought out or merged with Transamerica in 2014 or 15 i recall . Just curious if he’s still in the business 11 yrs later ?

No. Gary went deaf from some sort of virus about 6-months in. I had never heard of it before but the same thing happened to Rush Limbaugh around the same time and it was all over the news.

On that old Monumental lead program they mailed for $210 per 1,000 which was cheap even for those days. But 60-days in, you were fighting with a captive Monumental agent to keep them from flipping your biz. And back then Monumental was really competitive.

 

[DonP]

No. Gary went deaf from some sort of virus about 6-months in. I had never heard of it before but the same thing happened to Rush Limbaugh around the same time and it was all over the news.

On that old Monumental lead program they mailed for $210 per 1,000 which was cheap even for those days. But 60-days in, you were fighting with a captive Monumental agent to keep them from flipping your biz. And back then Monumental was really competitive.

I remember that . Also i recall Moo had some type of fe mail program back then. But again they were reselling them . Doesn’t Moo still have captive agents ?

 

[DayTimer]

I don’t like what KSKJ or RNA did

What did RNA do? Is this recent? I remember they hiked rates about 6 or 7 years ago and became one of the highest priced carriers for FE. Did they do something else too?

 

[jdeasy]

What did RNA do? Is this recent? I remember they hiked rates about 6 or 7 years ago and became one of the highest priced carriers for FE. Did they do something else too?

Long story on RNA.

I’m not sharing here

 

[Surancedawg]

I thought everyone knew about this quoter. It will let you do 5-quotes per day without subscribing.

Final Expense Quotes

fexcontracting.com

Man, what happened with SNL? They used to be one of the lowest priced FE carriers. I see their rates have skyrocketed. I guess after Tommy O left the company, they went to hell.....

 

[jdeasy]

Man, what happened with SNL? They used to be one of the lowest priced FE carriers. I see their rates have skyrocketed. I guess after Tommy O left the company, they went to hell.....

He was as much of the problem as anyone. They never had great rates but they were usable in some cases. Now they are unusable on price alone. But they always were very difficult. No BoB. The agent can't do any sercie work, address change, beneficiary change, bank changes, etc. The agent can't even update the customer's phone number. Can't get their cash values for the annual reports if getting help.

And it was that way with TO there. I still have the email I sent him outlining these concerns and his reply that it was just that way and they weren't going to address any of it.

Worst FE company this side of Americo.