Bankers Life IUL Policy Living Benefits

Aug 17, 2015

  1. MedicareBear
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    I spoke with a guy a few days ago that told me he had a Bankers life IUL policy but wanted to see if he can get something better. I noticed the guy is paying a lot for this policy. Aside from that I told him about my life insurance policy which has several riders that he was interested in but I didn't know what he had on his policy since 1. He didn't have it with him and 2. He hadn't seen or spoken with his life insurance agent for over two years when he bought the policy. Is there anyway I can see what their riders are for their IUL?
     
  2. aclaro
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    aclaro Super Genius

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    The best way to learn about a policy is an inforce illustration. They are a must for policy reviews.
     
    aclaro, Aug 18, 2015
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  3. jdemmett
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    jdemmett New Member

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    I work with Bankers. The obvious reason his premium is high is because it's a recent policy. We added the accidental death rider along with the UL products & that increased a lot of rates. It's not too outrageous for the coverage, however.
     
    jdemmett, Aug 18, 2015
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  4. jdeasy
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    The reason it's high is because it's Bankers. And most likely it is not what the banker's agent told him it is either.

    There's lying ass snake agents but they are still a few rungs higher up than Bankers.

    Every company has a rogue agent or two out there. With bankers it's systemic.
     
    jdeasy, Aug 19, 2015
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  5. MedicareBear
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    Not to beat up on all the Bankers agents, but that's awful. I offered the guy a cheaper company with that rider along with Chronic, critical and terminal illness riders as well as eldercare rider. Absolutely beating their banker's IUL premiums.
     
  6. BNTRS
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    Um, before we go on the Banker's agents are evil rant, keep in mind that Banker's has (or had) an independent distribution sold through IMO's for certain products (IUL was definitely on that list).

    I thought it was the case that all that business was acquired by AVIVA (now Accordia Life) but I could be wrong.

    Simply...it might not have been a Bankers agent that sold it.

    If it is the product I'm thinking of, it's a rather terrible IUL product.
     
    BNTRS, Aug 20, 2015
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  7. jdemmett
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    jdemmett New Member

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    It sounds like we haven't met. I'm a loyal and dedicated agent with Bankers. 'Lying ass snakes' are not on any business cards I've seen with Bankers...
     
    jdemmett, Aug 20, 2015
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  8. jdeasy
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    No, we haven't met and you may well be the lone honest agent they have?
     
    jdeasy, Aug 20, 2015
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  9. pcbinsurance
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    pcbinsurance Guru

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    *******************
    We haven't met either but what do you think about this:

    https://www.youtube.com/watch?v=bL8qRMv994Y

    I'm sure you'd never teach those tactics.
     
  10. WinoBlues
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    WinoBlues Guru

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    I do not bang on a lot of companies. I have seen bad business with many companies, done by agents, not the company. However, Bankers is the one company that as soon as I see one of their policies I expect to see or hear something was done wrong. American Income Life is probably second.
     
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