- Thread starter
- #11
There will be life insurance on the other partner too.
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Large Survivorship Policy Advice Needed
- Thread starter ltcadviser
- Start date
There will be life insurance on the other partner too.
I think you misunderstood his question. The SUL is on the partner and his wife. That makes it cheaper, but the question is what will happen when he dies and is no longer contributing to the business, but his wife lives another 20 years.
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Since it takes both of them dying before the policy pays out.
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- Thread starter
- #13
The wife will be the majority owner. She owns policy on minority owner; minority owner owns policy (SUL) on her.
The ownership arrangement is already in place. All 3 parties currently work in the business.
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Order an exam and an APS and run them through any old dumb ass size BGA and get informal offers from a dozen underwriters. I did that for $300 a month term case and you are here asking if another carrier can beat LFG on a $8mm SUL case on a 70 year old. I say there's a good chance you may get blindsided. 
- Thread starter
- #15
Order an exam and an APS and run them through any old dumb ass size BGA and get informal offers from a dozen underwriters. I did that for $300 a month term case and you are here asking if another carrier can beat LFG on a $8mm SUL case on a 70 year old. I say there's a good chance you may get blindsided.
Thanks. I already ran numbers for 20 companies and called a big BGA as a backup.
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I've worked many large cases and there are always issues that come up that you might not have anticipated. Until they go through UW you won't know who will be the least expensive. My suggestion is use a MGA that orders all records and keeps in house so they can move to other companies when the surprises show up. If one of the partners has a relationship with an agent, is it the partner buying the policy? But hey what do we know, we are just teleagents final expense guys, why did you ask the forum if you have this view?
Not sure what you hope to accomplish painting the forum with such a broad brush. Are all attorneys money-grubbing ambulance-chasing scum-sucking douchebags? Or is that a bit too broad-brush?
If you're so much better than them, why did you have to ask the question? My guess is you don't know what you don't know. Calling a BGA isn't going to cut it in this arena. There are plenty of us who write cases like this with relative frequency, but no one's going to help an asshole for free.
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Companies compete for these policies..."running numbers" and thinking that's good enough is going to get you blindsided by a lot of different folks.
Good luck! You might get lucky on this one and I honestly hope you do, but like stated above, I wouldn't go around burning bridges with people that could help you make money in the future.
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In that case forgive me for posting that. The reason I posted that was because I already knew you were already appointed with Pac Life. So I figured you were either too lazy, too confused or both for asking about Pac Life rates. You said you were "requested a quote" and I'm sure you'll give them a quote and will never hear from them again since quotes on such size policies can always be beat. Good luck!
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From my experience, the guy that gets the business is the guy that brings knowledge to the table. The guy that has worked big cases, knows buy sell agreements, often more than the other advisors. If you bring value to the table, they will trust your recommendation even if the rates are higher than expected. Good luck.
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