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Controlled by Crestor.
Best term life company?
- Thread starter Jack46
- Start date
- 24,978
Banner would likely take that non-med at his age, and you can get as involved as you want in the application. Go all the way through part 2 yourself, or just drop a ticket and let the brother complete part 2 on his own. Or phone interview, your call.
Plus, assume it goes substandard, Banner already has S+ pricing for substandard (like AIG or PacLife), so if the brother is a little heavy or has other health complications, you have a pricing advantage built in.
Their conversion options are lacking, however. So keep that in mind.
- 24,978
- 29,492
Doesn't Banner have an instant decision available?
Banner has instant decision available but it only works around 15% of the time. They are picky for instant approval. So dont sell Banner for instant approval prepare client for possible full medical underwriting. Other carriers have much higher instant approval percentage and also higher prices
Have you written them recently? I had the same experience that you did when they first rolled out but now I'm getting accept/declines very quickly (a few instant but others in less than a week).
Out of the last 6 I did over the last month or so, 3 were approved as applied, 1 AOTA, 1 declined (but I got that quickly which I prefer), and 1 referred to full underwriting (pending).
They're touting closer to 33% instant now but over 50% under 2 weeks. Who knows if that's accurate but my anecdotal experience is pretty close.
They're getting a lot better from my perspective.
I am seeing that also. However, I have a lot new immigrants coming to me. Banner knows they are new to the country probably because when the drivers license was first issued. I definetely have higher approval rates on Banner in the last 12 months versus 3 years ago when I pitch it to my existing clients or my wife tax clients. But you still have to prep the client for full medical. SBLI on the hand at a higher premium is approved probably over 80% of the time. I dont sell the other higher premium instant approval term carriers unless there is a special need. Banner has better service to agents and their website can be understood in English language. SBLI on the hand, hates agents calling them, their website requires you to be certified in Java.
That's hilarious and very true.
