Anybody Appointed with Cincinnati Life?

[sman]

I have an MAPD client who is asking about FE coverage. She said she got a quote with Cincinnati Life from a local agent. At first she said he told her it was a 10-pay life (67 year old female, $10k coverage). The premium quoted is $55.12.

I questioned the fact that it is a 10-pay life at that premium. She called him and then called me back. Now he's saying she can stop paying after 10 years and would have X amount of cash value (she seems to think he told her the cash value would be the premiums she paid) and it would increase $100 or so each year after she stops paying in 10 years. She really doesn't understand what this agent is telling her. I asked her if he said something along the lines of reduced paid up and she wasn't sure.

So, are any of you appointed with Cincinnati Life and willing to provide me with a little info here? As stated above, 67 year old female, good health, $10k of coverage in Georgia. Is this a 10-pay life (I highly doubt it)? What are the guaranteed cash values in 10 years and what is the reduced paid up amount after 10 years?

Thanks in advance for the help.

 

[WinoBlues]

I have an MAPD client who is asking about FE coverage. She said she got a quote with Cincinnati Life from a local agent. At first she said he told her it was a 10-pay life (67 year old female, $10k coverage). The premium quoted is $55.12.

I questioned the fact that it is a 10-pay life at that premium. She called him and then called me back. Now he's saying she can stop paying after 10 years and would have X amount of cash value (she seems to think he told her the cash value would be the premiums she paid) and it would increase $100 or so each year after she stops paying in 10 years. She really doesn't understand what this agent is telling her. I asked her if he said something along the lines of reduced paid up and she wasn't sure.

So, are any of you appointed with Cincinnati Life and willing to provide me with a little info here? As stated above, 67 year old female, good health, $10k of coverage in Georgia. Is this a 10-pay life (I highly doubt it)? What are the guaranteed cash values in 10 years and what is the reduced paid up amount after 10 years?

Thanks in advance for the help.

In GA? Send me your email address and I will send you an illustration.

if you say "Go Niners". OK I will send it any way.

Lee
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Looks correct. Actually the cash value grows faster than $100 a year.

Going to be hard to beat. Let me know if you want it., Lee

 

[sman]

I sent you an email Lee. It was hard to type that particular phrase, but I was able to get it out in the email. Looking forward to seeing the illustration. I may have to get appointed with CL if the product is as described. There are other carriers with a lower premium for $10k of coverage, but I don't know of one whose cash value equals premiums paid after 10 years.

 

[WinoBlues]

I sent you an email Lee. It was hard to type that particular phrase, but I was able to get it out in the email. Looking forward to seeing the illustration. I may have to get appointed with CL if the product is as described. There are other carriers with a lower premium for $10k of coverage, but I don't know of one whose cash value equals premiums paid after 10 years.

They did not equal the premium at 10 years. But pretty close. Not bad for Guraranteed CV and a ten pay.

I know others like other companies but this is a good option for most healthy seniors. IMHO

I know it hurt. But keep saying it, it will get easier.

 

[sman]

Thanks for sending me the illustration Lee. Holy Schnikes Batman, that is an awesome product for anyone who can pass underwriting.

 

[WinoBlues]

Thanks for sending me the illustration Lee. Holy Schnikes Batman, that is an awesome product for anyone who can pass underwriting.

Don't tell anyone! I have up sold more than a few FE clients with it.

Lee
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Just realized this is in the FE forum. So to clarify, Cinci is definitely not a FE company.

 

[sman]

Don't tell anyone! I have up sold more than a few FE clients with it.

Lee

Your secret is safe with me. As soon as I'm appointed with them, I'll be doing the same.
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Just so folks reading this thread will know how good this product is:

67 year old female

$10,000 10-pay whole life

Ultra Standard rates (which Lee has explained is their standard non-tobacco rate)

Premium is $55.12 per month

Cash Value after 10 years is $5,841 and the policy is paid up

The cash value exceeds premiums paid after 15 years


It is by far the best $10,000 policy I've seen. I realize it is a fully underwritten policy and not a simplified issue like most FE plans. But as far as a small face amount plan goes, this one is the best I've seen.

 

[CABenefits]

I won't tell other agents either check out their paid up too

Mike
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Where do you live Sman?

 

[sman]

I won't tell other agents either check out their paid up too

Mike
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Where do you live Sman?

Sometimes I live in the state shock, but currently I reside in Georgia.

 

[SportsNut]

Cincinnati Life is a great company... been to their home office many times.

I previously represented them back in the 80 and early 90's. They used to have a guaranteed issue life policy [key word used to] that had Name, Address, How to pay the premium ,etc... nothing more. They were in a pad of 10, it was the actual policy and the last page was carbon and the insured signed the policy and you tore out the company's copy and then handed the actual policy to the insured. I'm pretty sure that they got killed on the product and hence it doesn't exist any longer.