Huge Whole Life Policy

[WinoBlues]

Yes Wino you have now buy GreenSky ' s lunch.

Thank goodness there are still a few smorgasbords around.

 

[Todd King]

I did not know RNA certificates paid a dividend, I stand corrected. How do you read my "I would really need to look at those." as Pompous? Your experience with comparing non FE Whole Life policies may be different than mine.

And I am sorry I dared to question your opinion with an opinion. I forgot who I was addressing. I am an insolent mere mortal that has forgotten his place.

It is Participating but if I remember correctly they do not declare dividends on the new policy lines anymore, just the old ones from 10+/15+ years ago. Correct?

It is a participating policy, but they don't and won't pay dividends. Foresters' WL is participating and they do pay dividends.

 

[WinoBlues]

It is a participating policy, but they don't and won't pay dividends. Foresters' WL is participating and they do pay dividends.

So I guess I was wrong? They are Participating but choose not to. I stand corrected.

I can run that illustration and will compare it.

Can you run me a FBL for a male age 63 std non T for $500,000 Maryland please.

Thanks

 

[PA Bill]

Maybe it's my bias or insecurity, but for a wealthy prospect like this I would lean toward the par WL big boys. I believe Mass Mutual and NYL broker their WL plans. Probably only 50% comp but you'll be hitting a homerun regardless. I would play it safe with a guy like this as he probably will run it by his "advisors". But that's me.

 

[scagnt83]

Maybe it's my bias or insecurity, but for a wealthy prospect like this I would lean toward the par WL big boys. I believe Mass Mutual and NYL broker their WL plans. Probably only 50% comp but you'll be hitting a homerun regardless. I would play it safe with a guy like this as he probably will run it by his "advisors". But that's me.

Mass & Guardian would be the best bets here. NYL has a minimum premium requirement for your first brokered case, I believe it is something like $20K/y if I remember correctly.

Both Mass & Guardian are happy to contract brokers. The base comp will be 55%. If the case is big enough he might get a bump up to 60% based on the expense grid.

But what the client wants and what they can afford (or are willing to pay) are two different things. That is why he should show both WL and GUL from highly rated carriers. If he has Mass, Guardian, LFG, & Protective in his bag he should have no problem with this case.

 

[WinoBlues]

Mass & Guardian would be the best bets here. NYL has a minimum premium requirement for your first brokered case, I believe it is something like $20K/y if I remember correctly.

Both Mass & Guardian are happy to contract brokers. The base comp will be 55%. If the case is big enough he might get a bump up to 60% based on the expense grid.

But what the client wants and what they can afford (or are willing to pay) are two different things. That is why he should show both WL and GUL from highly rated carriers. If he has Mass, Guardian, LFG, & Protective in his bag he should have no problem with this case.

That table shave could be a case saver if there is any doubt on health.

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Thanks for the input! I'll post in the Life forum--I just posted here out of habit. I hadn't heard of "commission breath." That's hilarious! When I heard the amount they wanted, I questioned whether WL was the way to go but they said that's what they wanted.... Thanks again!

$800 to $1,400 mo GUL premium, twice that for WL, can cause a bit.

Nice case, Good luck

 

[EasternShore]

Thanks for your help!

 

[Cyborg7]

They won't buy from you

Total tire kicker waste of time

 

[WinoBlues]

They won't buy from you

Total tire kicker waste of time

Based on?

......................

 

[PA Bill]

They won't buy from you

Total tire kicker waste of time

Lots of sharks in the water with cases like this, so maybe you're right. But these deals don't come along often, if at all for most agents. What does he have to lose? I knew an agent who walked into a house off a med supp lead. Turns out the guy wanted a $100,000 annuity. The agent rescheduled so he could get some help (and paperwork) as he knew nothing about annuities. He later ended up walking out with 100k in CASH! This was in South Philly no less and the agent was scared it was a set up.

But after a very hair raising 24 hours of getting home and converting it to a money order, it turned out to be a legit, lucrative deal. You never know, so that's why we go!