How bad is Table 10?

[WinoBlues]

It will be interesting to see the illustrations.

If it winds up a T10 participating WL with a Guaranteed DB but stripped out CV it turns into a something resembling a Gul. No? Sounds like a no brainer to take it.

Maybe ask if the client can request more with the same underwriting limit. Probably going the best he can get going forward. That would be a win for the client and agent.

IMohsoHO

 

[Chuckler]

36 year old female, smoker, quoted at standard
Policy, 25 year pay CWL, with $50K in CWL, and $50K DOT
Annual policy cost $1,183.45

 

[Chuckler]

Same policy minus Waiver of Premium rider @ Table 10

 

[Life Hawk]

OP says he is captive, so probably isnt an option for him.

Rousmark once said FE was priced and underwritten at a certain range of table rating... I cant remember exactly right now, I want to say T4 or T5.

His point at the time though, was that very unhealthy clients can be better off with a fully underwritten policy, because they will take higher risks than many Simplified Issue policies will.

It also depends on the amount of coverage and type of policy the client desires.

As I write mostly FE and not FU, I can appreciate your comment. As a business practice, I usually address FU with very few clients because of the time it takes to turn around paper work, the potential pit falls of exams, and the unknowns in underwriting. The bulk of my client base is 50 and over.

I will also admit a bit selfishly, as e-aps have grown on me over the past year, I've become a bit lazy and impatient.

 

[rousemark]

OP says he is captive, so probably isnt an option for him.

Rousmark once said FE was priced and underwritten at a certain range of table rating... I cant remember exactly right now, I want to say T4 or T5.

His point at the time though, was that very unhealthy clients can be better off with a fully underwritten policy, because they will take higher risks than many Simplified Issue policies will.

It also depends on the amount of coverage and type of policy the client desires.

On the first day coverage plans, most have a built in table 4 rating.

 

[WinoBlues]

Same policy minus Waiver of Premium rider @ Table 10

View attachment 6998
View attachment 6999

Thank you.

Is the Term convertible?

 

[Chuckler]

Thank you.

Is the Term convertible?

No, I'm actually going to advise the client to drop the term, because on the illustration it only shows $1,500 total premium, but on the policy it shows $1,700 and the DOT is $222 a year.

 

[kpbdy99]

If an insurer makes a Table 10 offer, a client with any of their wits remaining about them should gleefully write the check and accept the offer.

 

[Chuckler]

If an insurer makes a Table 10 offer, a client with any of their wits remaining about them should gleefully write the check and accept the offer.

Do clients actually understand what a Table 10 offer means?

 

[LostDollar]

Do clients actually understand what a Table 10 offer means?

Speaking as a consumer, in my case, the answer is no.

That may not be the right question, or the complete question, to be asking in this situation though.