AARP Whats New?

[AnonymousOne]

What is the current deal with AARP (New York Life). I am seeing rates on their website where the perm insurance is same price as GI (79 year old female, $15k).
I understand the argument for increasing age bands for term. But why cant my carriers beat these other prices?

 

[HoosierLife]

What is the current deal with AARP (New York Life). I am seeing rates on their website where the perm insurance is same price as GI (79 year old female, $15k).
I understand the argument for increasing age bands for term. But why cant my carriers beat these other prices?

I'm pretty sure it's UL........

 

[Jake07712]

AAaRP NY Life rates: 5,000 ($1 discount for bank draft)
Female age 75 43.o3 Male 47.66
Doesn't say if it's wl or ul ... just says 'permanent insurance' Guaranteed rates, nursing home waiver, etc. Coverage up to 15K.

 

[jdeasy]

AAaRP NY Life rates: 5,000 ($1 discount for bank draft)
Female age 75 43.o3 Male 47.66
Doesn't say if it's wl or ul ... just says 'permanent insurance' Guaranteed rates, nursing home waiver, etc. Coverage up to 15K.

If it says "guranteed rates" then it's their new whole life. Their "permanent" was UL until earlier this year. May still have the UL in some parts of the country?

 

[SportsNut]

The Female rate is pretty high and you've got to go deep in the well to find plans more expensive. My guess is that this is their new WL plan, but just an opinion.

The male rate is not so far removed from competitive. This is reversed of what you normally see, very competitive Female rates and Male rates considerably higher. In fact the male rate is only 8% or so higher than a female, compared to a 30 to 45% gap for most carriers between Female and Male rates. So these rates may certainly favor a Male, which is odd.

* I didn't search for state specific carriers so not all the above comparisons will be availabe or accurate in all states.

 

[AnonymousOne]

My apologies for forgetting the source, I would like to say it was JD or Travis, someone will point it out.
Anyways, when comparing whole vs universal to a Client, the agent would call the universal life company and ask...
Can this rate go up?.......Yes
Is the death benefit guaranteed?.......No
If the rate ones up and they continue to pay that rate, is the death benefit then guaranteed?.....No
If they answered anything other than the above they ask to put it in writing on company letterhead and send it on over.
Are there any others strategies that can help convey this to clients that you folks are using? Thanks

 

[WinoBlues]

My apologies for forgetting the source, I would like to say it was JD or Travis, someone will point it out.
Anyways, when comparing whole vs universal to a Client, the agent would call the universal life company and ask...
Can this rate go up?.......Yes
Is the death benefit guaranteed?.......No
If the rate ones up and they continue to pay that rate, is the death benefit then guaranteed?.....No
If they answered anything other than the above they ask to put it in writing on company letterhead and send it on over.
Are there any others strategies that can help convey this to clients that you folks are using? Thanks

I would recommend learning the different types of ULs first.

 

[AnonymousOne]

I would recommend learning the different types of ULs first.

After fully learning about most ULs, I stopped selling them....

 

[WinoBlues]

After fully learning about most ULs, I stopped selling them....

What are you selling now?

 

[AnonymousOne]

Term, whole, have used no lapse ULs in the past.
The more companies have tries to shove IULs and VULs down the throats of consumers the more I've disliked UL. My main business isn't insurance.