Why Not More GULs

[jdeasy]

Thanks for the replies. Good point Spur I was kind of thinking proce buster too, if the health is right.

Thanks for you thoughts JD. Would you write a GUL under any circumstances? I know you say it is not you market (and I believe you), but I imagine you get a handful of leads here and there that are in the 50k+ income bracket. I want it to be clear I am not judging your business; as I have seen your posts over several years and know you are successfull and honest. I was just curious. Is it just the too many maybes on the GUL, ie payment is late and thenguarantee is lost?

I rarely, meaning almost never, run across a need for term or higher face when running FE leads. I write a few term cases every year but they are usually referrals or a leftover from my MP days.

The last UL I wrote was in 2007. I was contracted with Sagicor 5 or 6 years ago and got termed for no production. Never found a fit for them. They offered to keep me contracted if I would write one piece of business. I didn't even have one.

To answer your question, no, I will not write a UL at all. I'll write term or I'll write whole life. I doubt that a GUL would be all that competitive with the fully underwritten whole life carriers I have anyway. I know I haven't lost a case to one.

 

[Jack B]

I write GUL from time to time as last resort, for example, I had 76 male, wouldn't think of taking lower than 50k, got him mass mutual for 267 a month, MM has the best prices I think for GUL, they do require exam, I also use principal life.

 

[BYSFG]

I write them time to time but as of recent more often. Generally put, I base it on:

Goal/Purpose.
Cash value is of little importance.
Healthy.
How their financial situation is.
What their risk tolerance is.
Etc.

I usually suggest paid up due to the risk factor of missing payments, even if it is EFT. Never know if something will get hung up somewhere.
---
On the phone posting, noticed this was FE. Don't focus on FE primarily but this is generally how it is for me.

 

[Speck]

Yep, $50,000 on up is definitely a good place to look at GUL for permanent coverage, especially if they would be rated a standard or better. Protective Life is fully underwritten but their rates are some of the best out there.