Is there any way I can get this type of info?


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I'm working mostly on the life side. I keep finding people with UL policies that are on a fast track to crashing because a lot of them were written when current rates were much higher so the projections looked peachy then, but are almost drained of CSV now.

The same companies keep coming up over again. It seems that when the customers that actually pay attention to their statements call and ask WTF is up, their agent just tells them not to worry about it, that everything will be fine. Well, we all know that it will only get worse.

I'd LOVE to be able to somehow get a list of people that own certain companies policies. Is there any way whatsoever (legally of course) that I can get my hands on this information?
I know what your talking about, I too have thought the same thing about some contracts I continually run across "if only I could get a list of these people". And though I'm sure you have the best interest for clients, as do I, obtaining a list with the intent and sole purpose to find policies that you can replace will get you into trouble with your state insurance commissioner.

As you come across these folks talk 1035 with the CV, and of course funding the new policy up to the mec limit.

As for a list for this kind of information, I imagine it does not exist for the above reason.

The thing is though, a 1035 isn't needed on many of these because a lot of times the CSV is not in excess of premium paid.

We could call it giving free insurance reviews. Could I make some money off of it? Sure! On the flip side, it is surely in the best interest of the client who after paying into a policy for 20 years will be left at 75 (when he is nearest to actually using the life insurance) with no life insurance.
I see what your saying on the 1035 exchange.

Of course it is in the best interest of the client! However, it creates a situation where every prospect you would meet with you would have the intention of replacing that policy. And while that is very good in this instance, from a state compliance standpoint they would have a problem with it.

What I'm saying is the misplaced governmental concern will take notice to all these replacements and it will spark and audit of your books. And if they uncover that you had intent to replace all these policies before even sitting down with the client (which having the said list would do), then at the very least you have a big headache on your hands.

This is more creating an appearance of wrong behavior then actually doing anything wrong.

Perhaps identify the ones most likely to have these policies. Obviously, sold in the 80's - that will get you a certain age group, set income parameters and I would choose married, with children in college etc. - and that may get you a good list as any.


I first thought of this idea when I was captive for a major mutual company my manger explained how this would get me into trouble and how I should stay away from it. He would write ANYTHING, but this was off limits even to him.