Fully Underwritten vs Simplified Issue vs Guaranteed Issue

[Sheryl J Moore]

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

Final Expense Quotes

fexcontracting.com

What a great resource. Thank you! sjm

 

[Sheryl J Moore]

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.

That is quite the opposite of what I often hear; fraternals are formed for the benefit of their members- not stockholders. sjm

 

[Life Hawk]

That is quite the opposite of what I often hear; fraternals are formed for the benefit of their members- not stockholders. sjm

?? Lost on how that addressed his point?

 

[Sheryl J Moore]

?? Lost on how that addressed his point?

He said he did not want a fraternal. I was merely indicating that I speak with plenty of people that intentionally seek-out fraternals. sjm

 

[Life Hawk]

Been in the business long enough to be burnt by both as a producer... and what a company will do to it's salesforce... it would do to it's clients if it could.

 

[Sheryl J Moore]

That's valuable intel. Thanks for sharing! I work with both, and feel indifferent. That said- I do not work with them as an agent or policyholder. sjm

 

[jdeasy]

That's valuable intel. Thanks for sharing! I work with both, and feel indifferent. That said- I do not work with them as an agent or policyholder. sjm

You should learn what a fraternal is before offering advice on them. But the same goes for non fraternals.

But you really need to know what makes a company fraternal and disadvantages and even the advantages.

 

[Sheryl J Moore]

You should learn what a fraternal is before offering advice on them. But the same goes for non fraternals.

But you really need to know what makes a company fraternal and disadvantages and even the advantages.

I apparently rubbed you the wrong way. That wasn't my intent. I didn't advise in any way. I do know what makes a company a fraternal, and what the pros/cons of each type of insurer structure. I was merely sharing an observation. Good day. sjm

 

[jdeasy]

I apparently rubbed you the wrong way. That wasn't my intent. I didn't advise in any way. I do know what makes a company a fraternal, and what the pros/cons of each type of insurer structure. I was merely sharing an observation. Good day. sjm

You didn't rub me anyway. You got your panties in a wad over nothing. You made a nonsensical "observation". Someone else asked you what you were trying today. You couldn't explain it. So I advised you to learn about them just for your edification.

 

[Todd King]

I was not satisfied with the way I left this thread, but I couldn't think what else to ask or say at the time.

Now that tax season is here, I was reminded of my most basic underlying objective for the questions.

Over the years I have managed to accumulate a few thousand dollars in an assortment of small stock holdings in computershare.

I have reached a point in life where tracking and entering 1099 div's (into tax software) is no longer fun.

I thought selling the stocks and using the money to buy a small whole life policy might be an effective hands-off way to manage that money.

What I think your posts have shown me is the single premium life insurance would preserve whatever money I chose to put in it but it would not allow much further increase of it. I believe I need to think on other alternatives.

My thanks again to each of you who took the time to give me comment and advice.

"but it would not allow much further increase of it."

I think you are forgetting the immediate increase in your estate. Sure, it's not money for you to use now, but you would be getting thousands immediately (I assume you have more than a few hundred to put into it...lol)
Just for a quick example, you might put in 10K and get an immediate death benefit of 16K. That's a huge return!