Banker's Life FE

[bill3173]

Just had a lady 63 who was going to purchase a $25K MOO WL policy from me for $92.90 monthly, and she told me that a BL agent offered her a $25K WL for $73.50, is this accurate?

If so, that's the lowest price I've heard on this type of policy, and I'm going to apply for a job with them. The sky should be the limit.

 

[Chazm]

Foresters is $88 so I highly doubt BL has it for $73.

Maybe he quoted her $20k and she got confused....or it was a UL


edit: just checked Lafayette and they have it for $81. Getting closer

 

[bill3173]

Foresters is $88 so I highly doubt BL has it for $73.

Maybe he quoted her $20k and she got confused....or it was a UL


edit: just checked Lafayette and they have it for $81. Getting closer

She claimed that it was for $25K, but unless I can find out otherwise, I'm thinking he offered her less than $25K.

I wasn't hung up on MOO, I mentioned a few carriers, but she wanted a company that she was familiar with, and said a few dollars didn't matter, but $20 less per month is not a few.

I'll have to look into lafayette, thanks for the tip.

 

[lflashman]

I've still got their rate software. The agent is using their Fully underwritten UL policy. The FE policy would be 113.36 for 25,000. 73.50 would only get them 16,000. Client will have to pass underwriting. How's their health? Their Fully underwritten Whole life is $75 a mo. but that's not what the agent is quoting.

 

[magagent]

No way BL has it for 73.00 20K for Americo is 87. 25K with Colorado Bankers is 99.00.

 

[lflashman]

If so, that's the lowest price I've heard on this type of policy, and I'm going to apply for a job with them. The sky should be the limit.

Better keep in mind their commish is only 50%

 

[bill3173]

Better keep in mind their commish is only 50%

I was joking about getting a job with them, really don't have the time.

It was a UL, found out from her today, and I could pick any of a dozen carriers that would give her a better price.

 

[jdeasy]

Just had a lady 63 who was going to purchase a $25K MOO WL policy from me for $92.90 monthly, and she told me that a BL agent offered her a $25K WL for $73.50, is this accurate?

If so, that's the lowest price I've heard on this type of policy, and I'm going to apply for a job with them. The sky should be the limit.

It's their UL and it's fully underwritten. If she is good enough health for that, she could get RNA's Royal Prime while life for $64/mo. for $25,000. They call it fully underwritten, but, there is no exam for that age and amount.

 

[thua717]

Go with the rating of the company. Banker's Life is own by Conseco which has been fine several times from different states for claims issues. Also, Bankers is at a B rate now, I think... I do not have faith with Bankers due to the problems with turnaround of agents and their questionable ethics as I was one several years ago. I've replaced so many Bankers due to their price and lack of competency of the customer service department.