AIG Guaranteed

[indiana260]

To an extent yes...but not double. Easy replacement. I think most people would be pissed to find out that they were paying twice as much, or that they could've had twice as much coverage.

Prospeirty Modified is not an ROP product. It's actually a graded death benefit.

110% of annual premium. Mon 0-12
231% of AP months 13-24

I had client die on effective date. They didn't get 1 premium plus 10% back line they would've with AIG or Gerber. Ladies husband died in yrs 2 of policy as well. Bet their family was happy they weren't rop.

 

[Life Hawk]

Price doesn't matter.

Agents who are full time in the business know this.

Clients might take a different view.

 

[NSRH]

Clients might take a different view.

Would they?

What if a carrier is known to "Plan F" clients before the 2 year mark?

What is a carrier is known to drag their feet to pay claims?

What if the agent has stellar service, calls clients on their birthday, and checks up on them often?

 

[Life Hawk]

Would they?

What if a carrier is known to "Plan F" clients before the 2 year mark?

What is a carrier is known to drag their feet to pay claims?

What if the agent has stellar service, calls clients on their birthday, and checks up on them often?

For the record, I don't shoot for cheapest. I run a business... and that comes first. My clients like me around.

That said, a knowing and concerned agent looks for middle ground. Other wise you should just offer Lincoln Heritage.

 

[goillini52]

Would they?

What if a carrier is known to "Plan F" clients before the 2 year mark?

What is a carrier is known to drag their feet to pay claims?

What if the agent has stellar service, calls clients on their birthday, and checks up on them often?

I'd rather have twice as much coverage than a birthday card.

 

[goillini52]

Prospeirty Modified is not an ROP product. It's actually a graded death benefit.

110% of annual premium. Mon 0-12
231% of AP months 13-24

That's not what I'm seeing.

"S.USA / Prosperity New Vista Modified Benefit
2 Year Modified Benefit

Year one - 110% of annual premium
Year two - 110% of annual premium
Year three forward - 100% of face amount"

"Modified
Limited death benefit for non-accidental death in the
first two policy years. Limited benefit equals return of
premium plus 10 percent interest. Full death benefit
for accidental death."

 

[goillini52]

This common perception that you're going to be replaced comes from the fact that independent agents often replace captive business. But I can't recall a time I was ethically replaced. The overall persistency with the guaranteed issue companies is just so atrocious putting them on Social Security billing give them a far better chance of actually having insurance. now find me a situation where six, nine, 12 months into said modified policy replacement is actually ethical.

Also,

Amam graded and modified isn't that far off the GI prices.

I get what you're saying. Without the SS billling, it'll probably lapse and they'll have no insurance.

I'd have no problem ethically replacing that policy even 12 months in...IF...IF the prospect realizes that to double his coverage for the same price, he's going to have to start a fresh 2 year contestibility period(I would). I'd let the prospect make that choice.

 

[Baseball7]

Prosperity modified pays the full annual prem plus +10% for natural death at any point in year one.

 

[goillini52]

Prosperity modified pays the full annual prem plus +10% for natural death at any point in year one.

I got that info from FexQuotes, and out of the Agent Guide that's on there. Are you saying that info they have on there is wrong?

 

[goillini52]

Prosperity modified pays the full annual prem plus +10% for natural death at any point in year one.

That's a nice feature.