Any Simplified Issue Term Policies for Seniors out there?

[goillini52]

I thought they did away with their term?????

I can understand why FL did away with thier ROP.. It was too rich....I wrote it on my daughter and her husband and the premium was not lot very much more than other companies SI with no ROP..

Maybe they did, I haven't looked at it in a while.

Edit...I just looked and you're correct, the Term is no more.

 

[WinoBlues]

I thought they did away with their term?????

I can understand why FL did away with thier ROP.. It was too rich....I wrote it on my daughter and her husband and the premium was not lot very much more than other companies SI with no ROP..

Too rich Aye! The companies counted on early lapses. That did not happen. Say in year 15 on a 30 year plan. Extra premium Xs 15 years. My ROPs have been very sticky. We will be paying out the ROP on couple this year.

All of the early ROPTerms went through a price change. Since then there are only a few left, fewer that have the RdPdUp option. Premiums are pushing toward GUL pricing. I wrote a couple last year that the partners knew they only wanted X years and saw the value of the ROP. I wrote one a few days a days ago where the end game was the RdPdUp at the 20 yr mark. We just reverse engineered it. Kinda like you do with the Non Forfeitures.

 

[JimDandy]

Americo, Sagicor Rated, MoO Express come to mind. United Home does a good job but the age may limit you.

After looking into alot of different companies, Americo seems to have the best options for a simplified issue term here in Ohio for Seniors. They have a yes/no app and run a prescription check for their HMS Plus 100 with no health exam or phone interview, and it is table 6 rated like FE. They go up to 400k and have issue ages up to age 75 with a 15 yr term.
Thanks for pointing me in the right direction!

 

[Newby]

Too rich Aye! The companies counted on early lapses. That did not happen. Say in year 15 on a 30 year plan. Extra premium Xs 15 years. My ROPs have been very sticky. We will be paying out the ROP on couple this year.

All of the early ROPTerms went through a price change. Since then there are only a few left, fewer that have the RdPdUp option. Premiums are pushing toward GUL pricing. I wrote a couple last year that the partners knew they only wanted X years and saw the value of the ROP. I wrote one a few days a days ago where the end game was the RdPdUp at the 20 yr mark. We just reverse engineered it. Kinda like you do with the Non Forfeitures.

You know the funny part is even when those ROP term companies were giving it away WAY too cheap the Dave Ramsey’s and Suzy Ormons of the world were still telling people not to buy them. They were for suckers.

They were wrong. Way wrong. The people who bought those and kept them full term made bank.

 

[rousemark]

Too rich Aye! The companies counted on early lapses. That did not happen. Say in year 15 on a 30 year plan. Extra premium Xs 15 years. My ROPs have been very sticky. We will be paying out the ROP on couple this year.

All of the early ROPTerms went through a price change. Since then there are only a few left, fewer that have the RdPdUp option. Premiums are pushing toward GUL pricing. I wrote a couple last year that the partners knew they only wanted X years and saw the value of the ROP. I wrote one a few days a days ago where the end game was the RdPdUp at the 20 yr mark. We just reverse engineered it. Kinda like you do with the Non Forfeitures.

The other problem was they did not offer an ROP option so they had no way of retaining the money at the end of the term.

 

[WinoBlues]

Th

Thanks for pointing me in the right direction!

Thank you for outlining the Pros. I have not written an HMS in a while. I need to take another look at them.

 

[WinoBlues]

You know the funny part is even when those ROP term companies were giving it away WAY too cheap the Dave Ramsey’s and Suzy Ormons of the world were still telling people not to buy them. They were for suckers.

They were wrong. Way wrong. The people who bought those and kept them full term made bank.

100%

The early ones were crazy good. I used to them in every v Primerica sale.

They are still good in certain situations. Value over price. Makes me different than the policy slingers. Just nowhere near what they were.

Now I have an opportunity to show single premiums or top off the RdPdUp coverage using the premium they no longer pay on the ROP to offset.

And the beat goes on

 

[WinoBlues]

The other problem was they did not offer an ROP option so they had no way of retaining the money at the end of the term.

Did you mean RdPdUp?

 

[toolbelt]

Dave Ramsey’s and Suzy Ormons

Who? lol