AARP GLOBE LIFE Coverage

[gordon112]

Ok, I sold his wife coverage and will be reviewing the husbands policy that he got through AARP when I deliver the policy. He said it was a globe life term product for 35k. He was unsure exactly what the prem is and what the term product is. He didn't have his policy with him and just recently purchased it. I was wondering what type of policy they sell with AARP. The guy is around mid 60's but is a smoker.

This should be an easy replacement gong back about 9 years when I was selling Life full time. I could replace these policies even with a whole life and give them a better rate... Maybe it has changed? Most likely I am going to get there rates and have them with me next time? Any suggestions? call AARP?

 

[STIBROKER]

Ok, I sold his wife coverage and will be reviewing the husbands policy that he got through AARP when I deliver the policy. He said it was a globe life term product for 35k. He was unsure exactly what the prem is and what the term product is. He didn't have his policy with him and just recently purchased it. I was wondering what type of policy they sell with AARP. The guy is around mid 60's but is a smoker.

This should be an easy replacement gong back about 9 years when I was selling Life full time. I could replace these policies even with a whole life and give them a better rate... Maybe it has changed? Most likely I am going to get there rates and have them with me next time? Any suggestions? call AARP?

https://www.nylaarp.com/Life-Insurance/Get-A-Quote



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[gordon112]

Is AARP using New York life exclusively and or also Globe?

 

[jdeasy]

Is AARP using New York life exclusively and or also Globe?

They only use NYL. If it's Globe he got it elsewhere. Common mistake.

The NYL thru AARP is going to be term to age 80 increasing in premiums in 5 year age bands or their "permanent" coverage which is UL.

The UL is not terribly over priced but it's beatable. I replace many of those whole life. Where it says right the policy that "premiums are not guaranteed" sells the whole life for you.

If it's Globe it's either their term to age 80 or their whole life. The term is easily beatable if they want want permanent coverage. The whole life is easily beatable on price.

You just have to find out what he has.

 

[gordon112]

They only use NYL. If it's Globe he got it elsewhere. Common mistake.

The NYL thru AARP is going to be term to age 80 increasing in premiums in 5 year age bands or their "permanent" coverage which is UL.

The UL is not terribly over priced but it's beatable. I replace many of those whole life. Where it says right the policy that "premiums are not guaranteed" sells the whole life for you.

If it's Globe it's either their term to age 80 or their whole life. The term is easily beatable if they want want permanent coverage. The whole life is easily beatable on price.

You just have to find out what he has.

Thanks JD for clarifying that. He said Globe and then said it was through AARP, so that's what threw me the loop. You really never know what they have tell you see the actual policy because most of the time the buyers don't have a clue.

 

[jdeasy]

Thanks JD for clarifying that. He said Globe and then said it was through AARP, so that's what threw me the loop. You really never know what they have tell you see the actual policy because most of the time the buyers don't have a clue.

Yep. I had an appointment this week where they told me they both had LH policies and their son had Globe.

When they got all the policies out the husband did have one LH policy and one SL policy, the wife had Continental and they had a Combined hospital indemity policy on the son, no life policy at all on him.

I think they have the last thing they saw on TV.

 

[gordon112]

Yep. I had an appointment this week where they told me they both had LH policies and their son had Globe.

When they got all the policies out the husband did have one LH policy and one SL policy, the wife had Continental and they had a Combined hospital indemity policy on the son, no life policy at all on him.

I think they have the last thing they saw on TV.

LOL, so true its scary..! Wow, LH and SL policies in one home, lol talk about a nice Christmas present.!

 

[jdeasy]

LOL, so true its scary..! Wow, LH and SL policies in one home, lol talk about a nice Christmas present.!

First SL policy I have ever run across. Guy is 79 now, bought the SL 4 years ago at age 75. $2000 face paying $36/mo for it. Did have a $2000 AD&D with it. They must not have tobacco class. He is a non smoker but there was no question on the app about tobacco use and no where in the policy does it say that it's tobacco or non tobacco.

The agent also checked no to his having current insurance and no to it being a replacement. The guy definately had the LH at the time and said he told the guy he was replacing a term policy. Even if he wasn't replacing it has to be noted in Ky that you have insurance and a replacement for has to be filed.

They wouldn't stop the draft by phone. We had to fax a letter to them to stop the draft and to get the cash value. They said they didn't even have a surrender form available, "just write it out what you want to do and fax it to us".

 

[gordon112]

First SL policy I have ever run across. Guy is 79 now, bought the SL 4 years ago at age 75. $2000 face paying $36/mo for it. Did have a $2000 AD&D with it. They must not have tobacco class. He is a non smoker but there was no question on the app about tobacco use and no where in the policy does it say that it's tobacco or non tobacco.

The agent also checked no to his having current insurance and no to it being a replacement. The guy definately had the LH at the time and said he told the guy he was replacing a term policy. Even if he wasn't replacing it has to be noted in Ky that you have insurance and a replacement for has to be filed.

They wouldn't stop the draft by phone. We had to fax a letter to them to stop the draft and to get the cash value. They said they didn't even have a surrender form available, "just write it out what you want to do and fax it to us".

Wow, I see SL and the Powells are taking a book right out of LH's stash. Nothing new with these clowns, they will try and delay , delay, postpone and delay more. I had a similar case with a LH policy where I had to send them a written letter signed by the customer to have them stop the draft. They never stopped it the following month and the office was told they never received it. I just think its another delay tactic. Either way, it's unprofessional.

 

[jdeasy]

Wow, I see SL and the Powells are taking a book right out of LH's stash. Nothing new with these clowns, they will try and delay , delay, postpone and delay more. I had a similar case with a LH policy where I had to send them a written letter signed by the customer to have them stop the draft. They never stopped it the following month and the office was told they never received it. I just think its another delay tactic. Either way, it's unprofessional.

LH said they would stop the draft while we had them on the phone. They did say they would have to send him a surrender form in the mail and he would have it notarized and send back to them to get the cash value.

The LH policy was also a replacement and it's check no on it as well. Couldn't have gotten it issued had he not. LH won't do replacements in Ky.