Any thoughts on GPM Life?

Nov 15, 2007

  1. gradyinsurance
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    gradyinsurance Super Genius

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    I have heard they offered competitive final expense products, and some regular life products. Any Experiences?

    Thanks, Dave.
     
  2. somarco
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    somarco GA Medicare Expert

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    If you are referring to Govt Personnel Mutual life, I did not know they were in the final expense market. My exposure to them was probably 5 yrs ago when they were recruiting agents to market (mostly) whole life to military & government employees. They were one of perhaps two dozen companies approved for a slot in the payroll allotment business.

    The local folks targeted the USPS primarily. The idea was to visit post offices and talk your way in to the back room where you could meet with workers and sell them on the idea of converting their FEGLI into permanent insurance or buying into the pension max pitch.

    They hooked up with an organization that used lists of govt employees and did mail outs for a free analysis of benefits.

    I don't know anyone that is still working that game so I suppose they moved on to the final expense market.
     
    somarco, Nov 16, 2007
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  3. GreenSky
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    GreenSky Guru

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    I can't remember the specifics but they took over a book of business from a Final Expense carrier some years ago - maybe Pan American Life? That got them into the FE business.

    I do recall that their rates were middle of the road. Nothing special.

    Rick
     
    GreenSky, Nov 16, 2007
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  4. gradyinsurance
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    gradyinsurance Super Genius

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    Well, on that 84 y/o female non smoker that I posted about, they said that 10,000.00 of Whole Life Final Expense coverage was 145.94 per month. The other carrier I was considering for that case, Pioneer American, quoted me 159.43 per month. It isn't that much difference, but, it is some.

    Dave
     
  5. gradyinsurance
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    gradyinsurance Super Genius

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    Oh, and thanks GreenSky for the tip on Americo. They would have run about 163.50 or thereabouts.

    Dave.
     
  6. tkirk97
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    tkirk97 Expert

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    I use them for FE, primarily if the person is unhealthy. ALso check out settlers life for the Final Expense product.
     
    tkirk97, Dec 15, 2007
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  7. gradyinsurance
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    gradyinsurance Super Genius

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    tkirk, do you know how deep they check medical history at GPM?

    Dave
     
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