Globe Life : Anybody Have the Rates ?

[WinoBlues]

OK..got it. The Globe for an 88yo is nothing more than an interest bearing savings plan that vanishes after 2 years. The 7% is a high rate of return because most people outlive the plan.

I wonder what wording in the policy document states this? I'll need to point it out to the sis-in-law.

Suggestion, Pick one of these guys licensed in the state the owner lives in and have them do the deal.

 

[AllenChicago]

Suggestion, Pick one of these guys licensed in the state the owner lives in and have them do the deal.

I'm licensed in the state where my Mother-In-Law lives, no way will I do this Globe Life plan for her. She dies, family gets only ROP+7% and I'm toast. She lives to age 90, policy ends...I'm toast. Can't win with this Globe Life option for her.

 

[jdeasy]

OK..got it. The Globe for an 88yo is nothing more than an interest bearing savings plan that vanishes after 2 years. The 7% is a high rate of return because most people outlive the plan.

I wonder what wording in the policy document states this? I'll need to point it out to the sis-in-law.

The "limited benefits first 2 years" is usually the giveaway.

Are you an agent? If so, do you not know about GI, {guaranteed issue}, policies?

I thought you were joking at first.

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I'm licensed in the state where my Mother-In-Law lives, no way will I do this Globe Life plan for her. She dies, family gets only ROP+7% and I'm toast. She lives to age 90, policy ends...I'm toast. Can't win with this Globe Life option for her.

You couldn't sell the Globe even if you wanted to unless you are captive with them.

Take the advice you got an give this to an agent that deals with this stuff.

 

[WinoBlues]

I'm licensed in the state where my Mother-In-Law lives, no way will I do this Globe Life plan for her. She dies, family gets only ROP+7% and I'm toast. She lives to age 90, policy ends...I'm toast. Can't win with this Globe Life option for her.

What JD said. This would be a good time to not only help your family but get some FE education. Ask the agent to keep you cc'd on what and why he is doing what he does. The agent will probably reciprocate one way or another. I send MS stuff to an MS guy and Health stuff to a health guy. Same with P&C.

I had some family members that needed some good MedSupp info. I could not find a good agent so Rick flew into town and handled it.

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The "limited benefits first 2 years" is usually the giveaway.

Are you an agent? If so, do you not know about GI, {guaranteed issue}, policies?

I thought you were joking at first.

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You couldn't sell the Globe even if you wanted to unless you are captive with them.

Take the advice you got an give this to an agent that deals with this stuff.

I believe he is a heath agent.

 

[DWilly]

She dies, family gets only ROP+7% and I'm toast. She lives to age 90, policy ends...I'm toast. Can't win with this Globe Life option for her.

Now you get it. They only winner w/ that Globe policy is globe.

 

[sirherbie]

Actually had a guy I dk'ed today. He took a met life GI out from tv 2 months ago. He smoked so I could give him 30 % more IMMEDIATE coverage than he got. He kep saying "I ain't going to die in the next 2 yrs" and I'm satisfied what I bought. Can't fix stupid so I walked off.

 

[Norwayguy]

I had some family members that needed some good MedSupp info. I could not find a good agent so Rick flew into town and handled it.
.

I see what you did there......Could not find a good agent....