2yr ROP or AARP?

[WinoBlues]

You beat me to it. After reading conflicting post on here I decided to order an app. Everything you said plus I did not see a HT and WT question or mention of a PHI.

I have a copy of the AARP Permanent Life rates and ap. It says "rates are guaranteed never to go up for any reason" and "premiums are guaranteed not to increase - ever". Group ins, simp issued, level, no waiting period with term ill/nursing home rider. Three question ap. Two year look back on illnesses. It does require no hospitalization in last two years and no doctor visits, treatments or tests in last 3 months. Rates are not bad.

56 year old ns male, 10k:

AARP 38.81 mo

Oxford 32.33
RNA 34.81
Americo 37.48
Monumental 37.70

AARP does not ask about tobacco so they will kick butt on smokers. AARP knocks a dollar a month off rate if you do bank draft so they must do direct bill. Unless you find a nonsmoker who just took out the policy I can't see replacing this for a few bucks in savings and starting a new contest period unless I'm missing something. Forget about smokers.

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The AARP app did not say they were knock out questions.

 

[jdeasy]

^^You must be talking about a different product than they have been selling;


https://www.nylaarp.com/Life-Insurance/Permanent

Nor does any of the AARP brochures that I have say anything like that. I just ordered info online. We'll see what they send.
They were going to introduce a whole life a year or so ago and laet the rates out for people to see. They were outrageously high. Maybe this is it that you are seeing?

 

[WinoBlues]

^^You must be talking about a different product than they have been selling;


https://www.nylaarp.com/Life-Insurance/Permanent

Nor does any of the AARP brochures that I have say anything like that. I just ordered info online. We'll see what they send.
They were going to introduce a whole life a year or so ago and laet the rates out for people to see. They were outrageously high. Maybe this is it that you are seeing?

JD, I will scan and email it to the you. It would be great if you would check it out. I am supposed to replace one in week.

Lee

 

[jdeasy]

JD, I will scan and email it to the you. It would be great if you would check it out. I am supposed to replace one in week.

Lee

I got it and nothing I've ever seen from AARP contains that language. In fact it's right in the policies and on all advertisements that the "premiums are not guaranteed".

This must be thier whole life that they were talking about bring out. The rates are certainly higher than their old UL rates. In fact, they are higher than just about anyone in the FE market. They are LH, OA high. At least on what you sent me they are.

So, if it is their whole life then it still won't be an issue. Their UL was priced pretty decent. The only way to replace it was to show the premiums not being guaranteed. This one can be replaced on cost.

 

[GoCubsGo]

Here is the rate sheet I have. They are very close to the best non-smoker rate and much better then any smoker.

63 male 10k
AARP 52.42 mo .... smoker or non

RNA 46.11 ...non
Americo 49.88 ...non

Americo 67.68 ... smoker
RNA 77.41 ... smoker

Image:

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Deduct $1 off of these rates for monthly bank draft.

 

[jdeasy]

^^That's the same rate sheet wino sent me. This is new. I ordered info yesterday. I wonder if this is available in all states?

I guess we'll see when I get my "personalized" info.

 

[jdeasy]

Yea, I wish AAPR would just stick to their TERM plan. Wonder what prompted them to join the WL ranks? I haven't run across any AARP WL plans out in the field yet. This is NOT gonna make our lives easier!

I haven't run into one either. It's always been the term or the permanent that was UL.

This new deal is also immediate coverage so I bet a lot of them are going to be declined.

I'm not really concerned about this new product. Doesn't look that threatening to me.

 

[Agentguy5]

Soo, is this through New York Life? It says AARP but I thought these guys only sold NY Life or Hartford...

 

[WinoBlues]

Yea, I wish AAPR would just stick to their TERM plan. Wonder what prompted them to join the WL ranks? I haven't run across any AARP WL plans out in the field yet. This is NOT gonna make our lives easier!

I run into them but <edit> not everywhere. I do not think it is a game changer. If LH had these rates with the number of agents they have, that would be a game changer.

Next week I am replacing one of these AARP policy's and several Gerber plans on her adopted kids. She has only had it a few months. I met her during a policy review of her mother's policy. My pitch to her was do you think some clerk at the AARP or Gerber would do this work for you. You deserve a real Insurance Agent.

I do not think this is that big a deal. I just wanted to know. I hate getting caught giving wrong info.
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Soo, is this through New York Life? It says AARP but I thought these guys only sold NY Life or Hartford...

Yes, the rest of the material says NYL.

 

[Newby]

AARP started rolling out that new WL last year. It's coming state by state. I'm sure it's a direct response to all of us killing them one by one. It won't be anyway near as profitable as their old UL policy was for them. We were easily exposing what bad products they were selling to their most loyal believers. They HAD to change eventually.

It's just another brand that has become more competitive. Some seniors like the AARP branding. Many hate the AARP branding. It's not that big of a deal. You aren't going to sell them all.