AARP "New York Life" Comparison

[rdsnow01]

Does anyone know of any companies that sell life insurance comparable to the AARP NewYork Life Policies that are heavily marketed on seniors? They are basically term policies that they market like whole life. The premium goes up as you grow older. I am looking for something that I can market agianst this product. I already sell FE whole life but I am looking for something comparable to the New York product.

Thanks in Advance!

 

[MisterRandyWatson]

If you have one immediate benefit whole life policy from basically ANY company out there, you'll be able to beat the hell out of AARP's policy.

 

[Specialagent]

I'm interested in this. My prospect said it costs 25 dollars a month for 20k till 80 with AARP. How do we compete with that?

 

[senior-advisor-indiana]

I'm interested in this. My prospect said it costs 25 dollars a month for 20k till 80 with AARP. How do we compete with that?

Your prospect is confused. AARP's policy gets an increase every fifth year. They will be paying pretty high premiums at age 70 and then at 75 also.

 

[Specialagent]

Your prospect is confused. AARP's policy gets an increase every fifth year. They will be paying pretty high premiums at age 70 and then at 75 also.

Thanks! These people think they can trust AARP! Just wondering how high? I'll run a UL with Genworth that they can be happy with.

 

[jdeasy]

I'm interested in this. My prospect said it costs 25 dollars a month for 20k till 80 with AARP. How do we compete with that?

Even if that were true, you could beat it by offing them a policy that doesn't end at age 80. But, it' snot true about the premium.

It goes up for sure in five year bands, not 5 years from when they take the policy.

It goes up at age 59, age 64, age 69, age 74, age 79 and then ends at 80.

It can also go up at other times besides those 5 year bands and says so clearly in the policy.

I love it when I run into clients that have the AARP policy or are considering it. It's almost as easy as replacing a Bankers or LH policy.

AARP has two types of policies that they market for NYL. One is the term that ends at age 80, the other is their UL. The UL doesn't end at age 80, but, the premiums are not guaranteed and, again, is clearly stated as such in the policy.

I don't consider either to be competition for FE. It's even part of my presentation to tell prospects about the AARP policies and what they are and how much they cost and how they work. Educating the clients is your friend.


The guarantees of whole life is the only way to go for the FE market. I will not sell term or UL for FE. Even GUL is off limits for me in the FE market.

If someone is going to sell $5000, $10000, $15000 UL's to people for FE, I would love to buy their client list.

 

[WinoBlues]

M

Thanks! These people think they can trust AARP! Just wondering how high? I'll run a UL with Genworth that they can be happy with.

Go on to the aarp site and print the materials. Also request a quote for a.maLe and femail. Then you will have it in your kit.

 

[Specialagent]

Excellent I will study the AARP product and when I'm done they will want to go with a quality permanent product.

 

[rdsnow01]

Guys, I am looking for something with limited underwriting like the AARP product. Basically you answer no to everything on the app and it is issued. Yes, I know a whole life FE policy is much better however I am thinking about the client that does not understand difference. Nor will they listen to you explain the difference. They just see a lot of insurance for a very low price with very little questions being asked about their health. You know, something too good to be true

 

[jdeasy]

Guys, I am looking for something with limited underwriting like the AARP product. Basically you answer no to everything on the app and it is issued. Yes, I know a whole life FE policy is much better however I am thinking about the client that does not understand difference. Nor will they listen to you explain the difference. They just see a lot of insurance for a very low price with very little questions being asked about their health. You know, something too good to be true

People like that are time wasters and spirit killers. Move on and save yourself some time and money.