"Best" Term and UL/GUL options (that's a loaded question, I know)

[JMarketing]

I write mostly Final Expense whole life. However, I come across a few cases a year where term just makes more sense for clients.

For term I currently carry Foresters, Omaha, Trans America, and Assurity. I've been selling strictly life insurance for six years and I know that grabbing my company quoter tool, selecting "all companies" and running to the cheapest one I find isn't always the best bet. There's more to consider. I see Banner is pretty aggressive (price wise) but know nothing about them (see below).

1. Best company for simplified issue term (No paramed - MVR, POS, APS, RX Check, MIB, = is fine) :
2. Best company for simplified issue term with higher face values
3. Best company for Return of Premium plans: I looked at Cincinnati Life years ago but their comp was terrible (I think 60 points). Assurity used to do really well in this category until they implemented their new Lexus Nexus underwriting which made preferred rates next to impossible (at their own admittance).
4. Company that tolerates the more common issues I see: Diabetes (no insulin), Asthma, HTN, cholesterol, anxiety/depression meds
5. Company that will go the longest on term when getting older (AKA, I sold a 70 year old female a 20 year term policy with Trans last year)

All I have for Guaranteed UL's is Omaha. I will admit that much of my "marriage" to a "Guaranteed" Universal Life is the number of imploding IUL's I run across in the field from poor market performance. If there's a good way to structure an IUL (or any other UL product) such that the rate is comparable to a GUL but still immune from market turbulence I'm all ears.

I welcome your thoughts.

 

[DHK]

If there's a good way to structure an IUL (or any other UL product) such that the rate is comparable to a GUL but still immune from market turbulence I'm all ears.

While there are some IUL products that can have minimum guaranteed premiums... you're still comparing a product that should be MAX-funded with a product that is MIN-funded.

 

[JMarketing]

Goto Final Expense Training & Leads and download the cheat sheet for health conditions

Thanks for your input but that's for FE. I'm asking about good companies for term product. That FE cheat sheet is (extremely) outdated. Whoever created that FE sheet doesn't have nearly enough companies, in my opinion. There are much better options out there for many of the conditions listed. That's kind of my day-to-day wheelhouse, though. Term is something I'm more limited on (in terms of company selection, anyway).

 

[go4life]

I love Sagicor for simplified issue term , GUL, WL with preferred rates