What do you think about this convertible term?

[senior-advisor-indiana]

Have you heard about the New PermaTerm 20 with "No Loss" Option?
Find out why Liberty Bankers Agents are excited!
What if your client outlives the twenty-year term you sold him; will that policy still pay for his final expenses with NO Future Premiums?​

Base Policy -
Guaranteed 20-Year TermPermaTerm 20Age 18 - Age 60Basic20 Years of CoverageConvertible 1st 15 Years Prior to Age 65Minimum Base Amout $25,000Issued Standard up to Table 2,
Ratable to Table 14

Base Policy
with "No Loss" OptionPermaTerm 20Age 18 - Age 60"No Loss"20 Years of CoverageConvertible 1st 15 Years Prior to Age 65Paid-Up Policy Amount Equal to
All Premiums Paid at the end of 20 years

 

[GreenSky]

I took a look at it and it's really just a ROI plan. Ya pays yur $12,000 over 20 yers and youse have the munny to burry ya.

Don't know how it's priced but as a final expense plan, how many 45 year old are concerned about their funeral?

Rick

 

[senior-advisor-indiana]

how many 45 year old are concerned about their funeral?

Rick

The terminally ill.

 

[GreenSky]

The terminally ill.

That was F-ing funny!

 

[Newby]

I took a look at it and it's really just a ROI plan. Ya pays yur $12,000 over 20 yers and youse have the munny to burry ya.

Don't know how it's priced but as a final expense plan, how many 45 year old are concerned about their funeral?

Rick

The other flaw is; Will $12,000 be enough in 20-years? If you figure it takes $8,000 today for a final expenses (a very, very low estimate for funeral and cemetery space) and figure 20-years at 4% annual inflation you get $17,528 needed if he died at 65 (not likely) and $38,408 if he lived to age 85 (pretty likely)

Term insurance just doesn't work as a final expense product...unless you die young.