How bad is Table 10?

[WinoBlues]

I would rather see a person have a smaller policy they can keep

How much is that?

, than a big one they can't

How much is that?

The OP said the difference for the term was something like $222 annually. About $19mo. for $50,000.00 of term. on a T10 guy. You and I have different philosophies. Mine says give the adults a chance to say yay or nay.

Something I learned a very long time ago was not to propose coverage on my budget.

I have sold $20mo premiums that have lapsed.
I have sold multi-thousand per month premiums that are still paying years later.

 

[Tahoe Ray]

How much is that?



How much is that?

The OP said the difference for the term was something like $222 annually. About $19mo. for $50,000.00 of term. on a T10 guy. You and I have different philosophies. Mine says give the adults a chance to say yay or nay.

Something I learned a very long time ago was not to propose coverage on my budget.

I have sold $20mo premiums that have lapsed.
I have sold multi-thousand per month premiums that are still paying years later.

Yep.

I just wrote a young (low 30s) client who makes decent money. Proposed 3m in term. He ended up taking half b/c "he didn't like the premium for the 3m". ok. I'll write him another 1m when he's older and has to pay more. His decision.

 

[DayTimer]

Ok! I think perhaps you and I are sitting in dramatically different financial positions and life situations so that each of our statements make sense for us, but maybe not so much so for the other person.

Ray's a good guy, though he seems to have a lingering TERMite infection that occasionally clouds his judgement

 

[DayTimer]

Something I learned a very long time ago was not to propose coverage on my budget.

This right here is so common among agents - I see it here on the forum and especially on Facebook.

A proper and thorough fact find - both emotional and financial - will typically uncover a lot of NEED and WANT that too too often goes unnoticed by the agent AND the client until it is too late for the client AND the agent.

 

[Tahoe Ray]

Ray's a good guy, though he seems to have a lingering TERMite infection that occasionally clouds his judgement

I wrote 3 WL policies last week, sucka!

Frankly, I'd just rather sell term and disability. I have no desire to go through the process that is required to educate a consumer (over the phone, nonetheless) on how to properly max fund permanent life insurance. All of my GUL business is referral/existing clients.

And I don't believe in a lot of the other permanent life strategies outside of those options so there's that.

I own permanent life insurance. I also own a car and a house but I don't want to sell those either.

It's the beauty of our business. Sell whatever you want. My opinion may not be "right", but it's mine and I have built an agency around that philosophy.

 

[WinoBlues]

I'd just rather sell term

I wish I had sold a lot more 10 and 15 year term.

5 and 10 years ago and 6 and 11 years ago, and 7 and 12 years ago and on and on and on.... Inventory.

I am getting to the point that the 20 yr term I write today will be cherry-picking for you young guns, not me.

 

[Tahoe Ray]

I wish I had sold a lot more 10 and 15 year term.

5 and 10 years ago and 6 and 11 years ago, and 7 and 12 years ago and on and on and on.... Inventory.

I am getting to the point that the 20 yr term I write today will be cherry-picking for you young guns, not me.

Don't worry, we can work out a deal.

 

[WinoBlues]

Don't worry, we can work out a deal.

I am seriously thinking about just doing splits with a lot of my deals. I am getting lazy and some life changes have me wanting to do other stuff with my time. But these people keep calling me. two more today. FE deals but still money.

50% of something is better than 100% of nothing.

 

[DayTimer]

50% of something is better than 100% of nothing.

How you doin par'ner?

 

[scagnt83]

You are writing a limited pay on a table 10 client? Do you know the odds thye will make it long term? Much better to write a life pay and give them more coverage for the money. Plus, life pay at a higher face will normally have about the same paid up amount for a win, win situation.

@Chuckler , you need to listen to Rousmark on this issue.

This person needs as much as they can get. Or at least as much opportunity for future coverage they can get.

A life pay policy lets them CHOOSE to stop paying premiums via Reduced PaidUp.

NYLs Custom WL will not give them that option.

We are talking about a potentially large difference in DB here. Maybe they want to stop premiums early. But why wouldnt someone like that not want the option to continue and build an even higher DB?

Explain that logic to them and present a life pay policy. They will see it as you being a competent professional looking out for their best interest, not the other way around.