Todays Term Companies

[superlife]

I have not sold Term insurance for the last five years & was wondering what the best term companies are today. Guaranteed premium for length of term.

 

[WinoBlues]

I have not sold Term insurance for the last five years & was wondering what the best term companies are today. Guaranteed premium for length of term.

There are a lot of if and what abouts.

I would start by entering my target client profiles into term4sale.com. That will give you a feel for who has the best premium. Then you can look into their differences.

Just my 2cents.

Lee

 

[ims01]

The Best is a subjective question. Best rates, best underwriting, best commissions, best process, etc.

 

[TwiLight]

I like to look backwards on evaluating.

• First Underwriting

• 
  Than Standard Rates and not preferred (70%) of you business will be in this class.

• 
  Best Price at Standard Rates.

 

[Stephen]

Just sign up with ezlife and let them do all of the work.

 

[Larry Tew]

I like to look backwards on evaluating.

• First Underwriting

• 
  Than Standard Rates and not preferred (70%) of you business will be in this class.

• 
  Best Price at Standard Rates.

I agree that "best class" rates don't always tell the story, but my experience is quite different when it comes to what rates class clients get. My numbers were in line with Ohio National's published numbers on all cases issued in 2012:

Super Preferred 23%
Preferred 24%
Select NS 13%
Std NS 25%
Select Smoker 4%
Std Smoker 5%
Substandard 6%

I know one company's "standard" might be another company's "select" but at least half my apps are approved at preferred or better.

 

[WinoBlues]

I agree that "best class" rates don't always tell the story, but my experience is quite different when it comes to what rates class clients get. My numbers were in line with Ohio National's published numbers on all cases issued in 2012:

Super Preferred 23%
Preferred 24%
Select NS 13%
Std NS 25%
Select Smoker 4%k
Std Smoker 5%
Substandard 6%

I know one company's "standard" might be another company's "select" but at least half my apps are approved at preferred or better.

I would guess that has a lot to do with your qualifying the clients and experience.

 

[Larry Tew]

I would guess that has a lot to do with your qualifying the clients and experience.

Maybe some, but I think it's more about market. If I worked mostly seniors or FE, I'm sure the rate classes would be less. But by the same token, I don't work with 3rd generation trust fund babies either. My market is a typical "ordinary" market... families and individuals from 30 to 60.

What I found interesting about those ON numbers was that almost half of their issued cases were preferred or better. So much for IMOs and brokerages who can't offer ON saying that their underwriting is difficult and so let's compare our favorite company's Super Preferred to ON's Preferred. I would think many companies in the ordinary market would issue with numbers similar to ON.

 

[WinoBlues]

Maybe some, but I think it's more about market. If I worked mostly seniors or FE, I'm sure the rate classes would be less. But by the same token, I don't work with 3rd generation trust fund babies either. My market is a typical "ordinary" market... families and individuals from 30 to 60.

What I found interesting about those ON numbers was that almost half of their issued cases were preferred or better. So much for IMOs and brokerages who can't offer ON saying that their underwriting is difficult and so let's compare our favorite company's Super Preferred to ON's Preferred. I would think many companies in the ordinary market would issue with numbers similar to ON.

I misunderstood the post. I thought you were referring to issued as applied. Which I have have very good numbers as well.

I do agree that there is a lot of Preferred and and Preferred Plus business out there, As well as preferred smoker. Even in the 55 and up age group where I do most of my work.