Senior Life Insurance Company Reviews

[billyb]

I replaced a SL last week. Got her $19,000 coverage for less than she was paying for $9000. She was paying standard rates. Not sure why because she qualified for preferred with me.

 

[seankm]

Yeah, easy for you and expensive for the client. We all know the deal here.

Todd your wrong 100%. No, you don't know the deal here! "You don't know what you don't know"

With many of my clients, I am repacing overpriced policies and Senior Life is the most competitive product on the market for Super Preferred and Preferred rate. I have sold many policies over the years and on balance Senior Life has a great competitive product line. This has not always been true but SLI has updated their rate card. since this thread started in 2016.

No need to be presumptuous. I am contributing to this post because the information is outdated and does not reflect the actual reality. Nothing is ever perfect and I would hope you would extend the same courtesy to agents like myself that are participating in this forum.

You contribute a lot to this forum. So let's not throw shade on me and my post and assume what I do is not for the best interest of my clients. NO need to insult my intentions. Don't ASSUME! You don' know the deal here @Todd King . You have no idea who I am and what my intentions are..if you did your tone would be a lot different.
"Do the right thing because it's simply the right thing to do."
-----------------------------------------------------------------------------------------

Monthy Comparison based on $10k face-Value for a 65-year-old female non-smoker with 1 med per condition ( blood pressure, cholesterol, and diabetic)

Senior Life Insurance Company $34.31

United of Omaha $41.01
Transamerica $41.55
Liberty Bankers Life $42.81
Old American $43.07
Lincoln Heritage $54.90

* Source CSG Actuarial

This is just an example. I understand this forum will pipe with something better The point is there are many opinions about SLI in this thread and it needs to be updated with the current changes to pricing, contracting and the overall reputation among old school agents on this forum.
----------------------------------

Thanks, I don't wish to get in a pissing contest with anyone.

 

[billyb]

If that rate is correct for a 65F $10,000 face then you need to notify FEX Quotes because that is not the rate they have. $34.31 is very close to a SofN rate.

 

[seankm]

If that rate is correct for a 65F $10,000 face then you need to notify FEX Quotes because that is not the rate they have.

Yes, it's 100% Correct and looking at FEX quotes they don't even give you the option for Standard, Preferred or Super Preferred rates. They only give you "level" as a choice. Not sure if that's a good tool to use to compare and it does not take underwriting guidlines into consideration. SLI covers all health conditions. SLI is not always the best rate for every client but we are competitive with all our immediate issue policies.

Thanks for the heads up re FEX quotes

 

[billyb]

Under their level plan type they have SL Preferred at $54.78 and standard at $67.66. $34.31 must be squeaky clean super preferred. They do not show that rate.

 

[seankm]

Under their level plan type they have SL Preferred at $54.78 and standard at $67.66. $34.31 must be squeaky clean super preferred. They do not show that rate.

Super preferred is one medication for each condition ( high blood pressure, cholesterol, and diabetic) I would not consider that squeaky clean? SLI only does an RX check no MIB.

 

[billyb]

$20 monthly less than preferred? Must be very few who would qualify. Most of my applicants take no more than 1 Rx per condition so if I were to contract with SL you are saying that most of my applicants would be issued super preferred? SL is not competitive at preferred or standard. The lady I replaced only took a few meds and she was paying standard. If she would have been issued at super preferred I wouldn't have been able to replace it.

 

[seankm]

$20 monthly less than preferred? Must be very few who would qualify. Most of my applicants take no more than 1 Rx per condition so if I were to contract with SL you are saying that most of my applicants would be issued super preferred?

Yes, that's what I am saying...also the policy you were replacing was sold by an agent that may have placed her on the standard for a number of reason unknown ...

 

[billyb]

Above where you compared SL's super preferred to several carriers. This is not a fair comparison. Most people will qualify for Transamerca at that rate. You used a rate that is only for a select few.

 

[billyb]

I have never came across a SL policy issued at super preferred rates. Has anyone else?