62 Year Old Offered UL Instead of FE

[Mattschmidt]

probably best for an agent, not a marketer, to determine if a GUL or a whole life plan is best for a client. Just because a marketer does an interview on a podcast does not make one an expert

No two clients are the same, so its nice to present options. Beware of marketers presenting links to their websites

 

[Newby]

probably best for an agent, not a marketer, to determine if a GUL or a whole life plan is best for a client. Just because a marketer does an interview on a podcast does not make one an expert No two clients are the same, so its nice to present options. Beware of marketers presenting links to their websites

What if the marketer has sold a huge pile of insurance every year for many years?

 

[jdeasy]

A 62 year old I have was offered a cheaper Universal Life policy with a power premium than my best Final Expense. I have never sold UL but have heard of some calling for higher premium later or running out and cancelling. Is my only answer that FE is stable for price and face amount?

Depending on what face amount you are talking about. Doubtful they got a GUL for $10-15K face that was better priced than a regular FE plan. And if they got close on price then you could always go with FU.

If it's not GUL then they just have expensive term.

 

[GordieHowe]

A 62 year old I have was offered a cheaper Universal Life policy with a power premium than my best Final Expense. I have never sold UL but have heard of some calling for higher premium later or running out and cancelling. Is my only answer that FE is stable for price and face amount?

Many carriers post age 60 if the applicant doesn't see a doctor yearly will decline, full underwritten policy.
that tells you what to write

 

[HomeService]

UL's have gotten a bad name in certain circles. They are ok for certain scenarios, and WL is better for others. What really used to be the deal breaker, when I was a captive agent for a large mutual company, was the commission on the UL was wayyyyy better than term, and we were not really pushing final expense back then, and this was in the 1980's. Our small whole life policies back then were basically simplified issue for older folks on a budget who might have a few health conditions, and their final expenses might be the main use for the product. But "final expense" was not a noun or a verb used to describe a way of selling or a category of selling. It was one of the "needs" back then.