Re: Duane Morrow CMO of Primerica Harassing Me
Unfortunately for you, there are many other carriers offering term life insurance than those found on yourlifesolution.com. Additionally, the quotes I provided were for 20-year term since that was the term you were quoting in the post I referenced. It was not for 30-year term.
As for your renewal rates, is that really a selling point for you? Again, using the same scenarios (40-year old male pns, 20-year term), below are your guaranteed renewal rates:
Age 60 - $3,730
Age 65 - $5,552.50
Age 70 - $7,150
Age 71 - $7,825 and increases every year thereafter. By the time that person hits age 80 his guaranteed premium is $17,925.
I get it, you're a Primerica guy and you only have one arrow in your quiver so you've got to come up with some reason to convince folks that your way is better even if you are asking people to pay more for a commodity like term life insurance.
I'll ask the question again since you avoided it in your last reply, if your (meaning Primerica) mantra is "buy term and invest the difference", wouldn't it make sense to get the lowest cost term so you'd have more to invest?
I used the quotes on yourlifesolution.com, as that was the subject of the thread initially...
I think the guaranteed rates on our 30 and 35 year term products are an interesting point. It all comes down to the reserving requirements in the U.S.
Our renewal rates are hands-down, the lowest in the industry. I don't believe you can find a carrier that has lower renewal rates than us.
However, we don't offer a conversion to a permanent product, and therefore need to run products past 30 years on a scheduled, as opposed to guaranteed basis.
For proof, look at Primerica Life of Canada. Exact same initial and renewal rates, but fully guaranteed regardless of term length... The only difference? The regulatory environment the companies operate in.
I wish our term was fully guaranteed, but then we couldn't offer the renewal rates that we do...
Unfortunately for you, there are many other carriers offering term life insurance than those found on yourlifesolution.com. Additionally, the quotes I provided were for 20-year term since that was the term you were quoting in the post I referenced. It was not for 30-year term.
As for your renewal rates, is that really a selling point for you? Again, using the same scenarios (40-year old male pns, 20-year term), below are your guaranteed renewal rates:
Age 60 - $3,730
Age 65 - $5,552.50
Age 70 - $7,150
Age 71 - $7,825 and increases every year thereafter. By the time that person hits age 80 his guaranteed premium is $17,925.
I get it, you're a Primerica guy and you only have one arrow in your quiver so you've got to come up with some reason to convince folks that your way is better even if you are asking people to pay more for a commodity like term life insurance.
I'll ask the question again since you avoided it in your last reply, if your (meaning Primerica) mantra is "buy term and invest the difference", wouldn't it make sense to get the lowest cost term so you'd have more to invest?