Assurity's Accidental Death Plus is pretty awesome!

[myinsurebiz]

If we knew when we were going to die we would certainly plan for it. However, that is what life insurance is for, even if you die the next day. So, shouldn't you buy enough to cover you should you die in any manner? If you do, then I ask again...what is the reason for an AD rider?

Granted, when you're young, your death will most likely be caused by an accident as opposed to illness, but still...shouldn't the base policy take that into account?

Just a little friendly debate here.

Some peeps can't qualify or afford traditional life insurance. Some just hate the idea all together.

Assurity's product is very affordable.

 

[rousemark]

Then you need a bigger bag. Plenty of options with A rated carriers.

If your not shopping cases around the market, you are doing your clients a huge disservice... and if the worst happens you did their families a huge disservice.

Try to justify to a grieving wife who just lost her husband to cancer that the AD&D policy you sold him was more valuable than a life policy that will pay out in 99% of deaths... instead of the AD&D that pays out in only 6% of all deaths.

Try to justify to the grieving widow with three kids of the 26 healthy young man killed in a hunting accident what she is only getting $25K from the WL plan instead of the $250K she would have received if you had sold him an accidental death policy. ... That what if game plays out in many ways.

 

[rousemark]

Then you need a bigger bag. Plenty of options with A rated carriers.

If your not shopping cases around the market, you are doing your clients a huge disservice... and if the worst happens you did their families a huge disservice.

Try to justify to a grieving wife who just lost her husband to cancer that the AD&D policy you sold him was more valuable than a life policy that will pay out in 99% of deaths... instead of the AD&D that pays out in only 6% of all deaths.

Oh, BTW, you can't sell him a term policy becasue they pay out even in less cases your estimate of the AD&D policy.
"How many term life insurance policies pay out a death benefit?

A Penn State study completed in 1993 said that less than 2% of all term life policies paid a death claim, and that less than 10% of all term policies stayed in force during the entire initial term period.

The study determined that only 1% of all term insurance resulted in death claims. That means on average only 1% of all term policies will pay death benefits.

Why? Because only 1% of all term policy owners keep their coverage beyond 15 to 20 years. (Penn State University, 1993 Study)"

 

[Tahoe Ray]

Oh, BTW, you can't sell him a term policy becasue they pay out even in less cases your estimate of the AD&D policy.
"How many term life insurance policies pay out a death benefit?

A Penn State study completed in 1993 said that less than 2% of all term life policies paid a death claim, and that less than 10% of all term policies stayed in force during the entire initial term period.

The study determined that only 1% of all term insurance resulted in death claims. That means on average only 1% of all term policies will pay death benefits.

Why? Because only 1% of all term policy owners keep their coverage beyond 15 to 20 years. (Penn State University, 1993 Study)"

None of that matters. Term coverage isn't meant for those who lapse/don't die.

It's meant for those who need it.

Do they not stay in force b/c the insured can no longer afford it or does it not stay in force b/c the insured no longer needs it?

The super-rich (at this point, 23+ million), the people looking to leverage (GUL), the people looking for safe CV accumulation (IUL/Whole life folks), and the super-poor (can't afford a funeral or cremation) need life insurance for end of life issues.

Most term buyers are trying to protect their earnings potential and their families, which is prudent and if you're caught in that 2%, you thank whoever you thank (afterlife) and your family is thrilled.

 

[myinsurebiz]

Try to justify to the grieving widow with three kids of the 26 healthy young man killed in a hunting accident what she is only getting $25K from the WL plan instead of the $250K she would have received if you had sold him an accidental death policy. ... That what if game plays out in many ways.

Agreed.

$250k Accidental Plus for a 26 with a family of 5 is less than $25 a month for all of them.

$250k husband, $100k spouse and $25k on each child.

Don't get me wrong - if they can qualify for and afford something traditional - by all means, they can get it.

 

[myinsurebiz]

1) The super-rich (at this point, 23+ million), the people looking to leverage (GUL), the people looking for safe CV accumulation (IUL/Whole life folks). . .

2). . . and the super-poor (can't afford a funeral or cremation) need life insurance for end of life issues.

I don't write any #1's.

#2's should get atleast $10k WL and if they qualify, add a nice Term Rider for today.

We are starting a marketing initiative targeting young married couples or young families to buy a $10k - $25k WL and buy as much Term Riders they can afford up to $250,000 . . . If any children - Child Riders that convert.

Plus, if they can afford it - add in some Cancer, DI, DVH, etc.

Going to do this through the worksite / workplace.

Our research says they are more likely to keep the WL policy if it has a nice Term Rider added in . . .

Then if their income and goals require something greater like a GUL or IUL - then they can get one of them as well or in addition to what they have.

But, at minimum, peeps should at least have the Assurity Accidental Plus.

 

[Lawsonhj1]

I am curious to see the accidental death chart that shows the percentage of those deaths where the person was legally under the influence of alcohol or drugs. Now an image comes to mind of the grieving widow trying to collect to find out the 26 had a few too many cocktails. I guess it is like everything else, there is a bait for every fish.

 

[myinsurebiz]

I am curious to see the accidental death chart that shows the percentage of those deaths where the person was legally under the influence of alcohol or drugs. Now an image comes to mind of the grieving widow trying to collect to find out the 26 had a few too many cocktails. I guess it is like everything else, there is a bait for every fish.

If Alcohol or Drugs was the cause of the death - it will not pay. It wouldn't be an accident in that case . . .

Now - if Bob was on his Pontoon Boat, having a few beers on the Lake, was then run over by an *** on a Ski Boat and died. That pays.

 

[Lawsonhj1]

If Bob was legally intoxicated from his few beers on the lake and was ran over, died and bobbing around in water I am not confident enough to think the policy would pay.

 

[myinsurebiz]

If Bob was legally intoxicated from his few beers on the lake and was ran over, died and bobbing around in water I am not confident enough to think the policy would pay.

"legally" is probably why it would pay off . . .