Americo Limited pay?

[mudhound]

I've got a question or two or 3.
Does Americo have a limited pay option on the whole life?
Do they (Americo) pay the death benefit and the cash value both? Example: BD of 30000 plus the cash value of $3000 for a total of $33,000?
I have a client who's been contacted by some call center. I think they are feeding him a line of you know what!

 

[Todd King]

I don't see anything that is WL other than the Advantage WL plan. It does not have a limited pay option that I can see and nothing that says whether it is a participating policy or not.

The call center may have an exclusive product with them that the normal world doesn't have access to.

 

[jdeasy]

I've got a question or two or 3.
Does Americo have a limited pay option on the whole life?
Do they (Americo) pay the death benefit and the cash value both? Example: BD of 30000 plus the cash value of $3000 for a total of $33,000?
I have a client who's been contacted by some call center. I think they are feeding him a line of you know what!

They call their paid up at 100 “limited pay”

The cash value is not added to the death benefit.

 

[Todd King]

The CBO product is a Flexible Premium UL policy that offers either 100% or 50% cash back option at the end of the CBO period, which can be 15, 20, 25, or 30 years. It's basically a UL product on a term chassis. It will not pay out the death benefit AND cash values. So someone is misleading the client.
As for "Limited Pay", that is set in the number of years that you choose initially. There is no paid up option.

 

[rousemark]

The CBO product is a Flexible Premium UL policy that offers either 100% or 50% cash back option at the end of the CBO period, which can be 15, 20, 25, or 30 years. It's basically a UL product on a term chassis. It will not pay out the death benefit AND cash values. So someone is misleading the client.
As for "Limited Pay", that is set in the number of years that you choose initially. There is no paid up option.

Do they have a fully underwritten UL that can be written with an option B?

 

[Todd King]

Do they have a fully underwritten UL that be written with an option B?

The Advantage WL does have Option B, but not a Limited Pay.....maybe that's what they are referring to, but I still have my doubts.

 

[rousemark]

The Advantage WL does have Option B, but not a Limited Pay.....maybe that's what they are referring to, but I still have my doubts.

You can illustrate most UL as limited pay but not guarateed.

 

[jdeasy]

The question wasn’t about UL.

Americo whole life premiums are payable to age 100. They call that limited pay.

They do not have a whole life that’s 10 pay, 20 pay or paid up at 65.

They have pay to age 100. With coverage to age 120.