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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.
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: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%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.
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.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.