- 3,764
Why are you trying to sell products when you aren't licensed
Americo's NEW Nonsmoker Rates For Smokers
- Thread starter FinalExpenseDojo.com
- Start date
Why are you trying to sell products when you aren't licensed
- 17,038
Sounds like Americo is giving up on their pipe/cigar advantage with this move too.
60 year old male smoker $15,000 72.60 initially with Americo
Same guy $69.62 with Lifeshield
$71.07 with KSKJ
$75.19 with Standard Life
After three years Americo goes to $127.87 to keep a $15,000 face
Lifeshield stays at $69.62
KSKJ stays at $71.07
Standard stays at $75.19
This will be fine for the people who already have recently quit smoking but less than 12 months ago. I can remember two of those in 20+ years.
But in reality this will help Americo sell more policies to smokers. It will get them into the policy at a competitive rate. It will be bad for customer satisfaction. But the customer will be 3years older and still a smoker and probably have more health problems. So many will keep it. And who knows. Some may legitimately quit smoking and do whatever Americo requires to prove it.
It’s always good when a company offers something that no one else does. Time will tell if it’s good for Americo though.
60 year old male smoker $15,000 72.60 initially with Americo
Same guy $69.62 with Lifeshield
$71.07 with KSKJ
$75.19 with Standard Life
After three years Americo goes to $127.87 to keep a $15,000 face
Lifeshield stays at $69.62
KSKJ stays at $71.07
Standard stays at $75.19
This will be fine for the people who already have recently quit smoking but less than 12 months ago. I can remember two of those in 20+ years.
But in reality this will help Americo sell more policies to smokers. It will get them into the policy at a competitive rate. It will be bad for customer satisfaction. But the customer will be 3years older and still a smoker and probably have more health problems. So many will keep it. And who knows. Some may legitimately quit smoking and do whatever Americo requires to prove it.
It’s always good when a company offers something that no one else does. Time will tell if it’s good for Americo though.
- 7,012
I believe this is only on the Eagle product. Ultra Protector still reads "Have you smoked cigarettes in the last 12 months?" I think..
- 17,038
That’s good. I never understood the appeal of agents selling the Eagle product over Ultra Protector anyway. Unless they are selling over the phone. The Ultra is usually priced quite a bit lower. Commission is only slightly lower but still good.
- 7,012
Instant decision Eapp
No PHI
Built in Accidental/Common Carrier Accidental
12 month look back on heart attack/strokes
Lupus,
MS,
Cerebral Palsy,
Arrhythmia/Irregular heartbeat,
Assisted Living,
Bipolar/Schizo,
Hepatitis C and Kidney/Renal Disease,
Parkinson's,
Seizures,
Also good for Insulin Dependent Diabetics,
Also has a child/grandchild rider with no UW,
All in one product.
- 5,836
For the client? Probably not.
I think what we will find is that this product will be IMO dependent, I.e. there will likely be an IMO or two who will hype this product to their agents, and that is where the vast amount of rigged field sales business will come from - one or two IMOs pushing the Eagle product
If you have access to FEX quotes, you will quickly be able to “do the math” showing you that most clients can get a much larger death benefit at today’s age smoker rate with another carrier than they will have with Americo 3 years down the road. In most cases, you will be able to give the client true whole life - the premium never increases and the death benefit never decreases for just $10 or less per month more.
And if they qualify for Lifeshield, then the smoker rate at current age is likely less than Americo’s non-smoker rate, e.g. 60 year old male smoker 10k benefit $47.16 with Lifeshield, where Americo’s non-smoker rate for same age & benefit is $49.67 ... but Lifeshield is $10k til the day the client dies, whereas with Americo, the death benefit will be only $5550 if the client cannot or does not prove smoking cessation by the end of year 3
Which product would you rather sell to your father?
Last edited:
- 919
This is wrong. They specifically ask about chronic kidney disease.
- 7,012
We've discussed this before. What does Chronic mean? But you could still throw that one out if you want.
Continuing or constantly recurring.
- 919
Eagle is still strong in many ways even if you take out kidney disease (which it does not take).
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