Best Children's Whole Life Policy

Nov 2, 2015

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  1. Rdg530
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    Rdg530 Expert

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    First of all, I apologize if this topic has been posted several times in the forum. I searched but wasn't able to find the information I was looking for.

    What I need is a carrier who will write a $50/month premium Whole Life policy for an independent agent. I have two prospects - ages are 8 months and 3 years old.

    The carriers I'm contracted with will only do smaller face amounts where the premiums are like $12/month.

    Best bet would be a limited pay, dividend paying company.

    Thank you!
     
    Rdg530, Nov 2, 2015
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  2. Lewis_FL
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    Lewis_FL Super Genius

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    MetLife does all that and they have name recognition.
     
  3. Dweezil
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    Dweezil Expert

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    Royal Neighbors would be about $150,000 level or about $80,000 for a 20 pay assuming you mean $50 each.
     
    Dweezil, Nov 2, 2015
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  4. Rdg530
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    Rdg530 Expert

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    Thank you for the replies. I decided to go with Liberty Bankers Life whole life product called Flex For Life Juvenile. They have a 10 pay option and for just under $50/month I can get them both a $45,000 policy.

    Thanks again for the input. I may present Met and RNA as back-ups.
     
    Rdg530, Nov 3, 2015
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  5. aclaro
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    aclaro Super Genius

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    Why not actually write a good whole life policy?
     
    Last edited: Nov 4, 2015
    aclaro, Nov 4, 2015
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  6. Dweezil
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    What would be the problem with a 10 pay? That makes the most sense to me.
     
    Dweezil, Nov 4, 2015
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  7. aclaro
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    aclaro Super Genius

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    10 pay makes a lot of sense. Why not use a top company?
     
    aclaro, Nov 4, 2015
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  8. Dweezil
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    It depends on your view of a "top company" I guess. Sure there are better known brands out there but are you just asking the customer to pay more premium for a bigger ad budget or because they are truly a better company. LBL has a B+ rating for what it's worth, but ratings aren't the best way to view a company.

    Lehman Brothers for example wasn't downgraded until the filed for bankruptcy and had an AAA rating from all the bond rating firms. I could see if he was using "Bob's Life Insurance Company" and they were just established last week. That may present a problem.
     
    Dweezil, Nov 4, 2015
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