Can Any Carrier Beat this Quote?

[VolAgent]

Oh crap! I only got about six months to go.

Yes, but you have the liver of a 120 year old.

 

[Mehler91]

Southern Farm Bureau has an interesting policy called a Modified Premium Whole Life that may fit his scenario.

It basically is priced like a term product with no cash value buildup during the first 10 years and then the premium increases in year 11. When I get home tonight I'll run it for you guys and post it on here to show you what it does.

U/w would be full paramed and EKG due to age.

 

[jdeasy]

Southern Farm Bureau has an interesting policy called a Modified Premium Whole Life that may fit his scenario.

It basically is priced like a term product with no cash value buildup during the first 10 years and then the premium increases in year 11. When I get home tonight I'll run it for you guys and post it on here to show you what it does.

U/w would be full paramed and EKG due to age.

Why would anhy person in their right mind buy that crap?

 

[Mehler91]

Same can be said for term coverage, I bet a lot of agents called it crap when it first came out too.

That being said the MPWL isn't for everyone. Limited budget up front or some over 70 that wants term. It basically acts like a term policy that converts the entire amount in year 11. Cash value is on an accelerated curve in years 11+ and pricing is also based on issue age of the policy so there are some advantages to it. Usually the only reason we sell them is a budget constraint where term won't work for whatever reason (our term minimum is $100k so sometimes these policies work well on folks that want temporary coverage under $100k). Under age 65 the underwriting under $100k is very lenient as well. Med records and oral fluid test only.

Remember every product has someone out there looking for it. In a perfect world everyone would buy WL or IUL but unfortunately the world isn't perfect and not everyone has huge chunks to throw at their life insurance.

 

[WinoBlues]

Not a new concept. MPWL has been around a long time. I have not seen one in a while.

Is this dependent on dividends to reduce premium?

I would be interested in looking at it.

My email address is [email protected]

Thanks

Same can be said for term coverage, I bet a lot of agents called it crap when it first came out too.

That being said the MPWL isn't for everyone. Limited budget up front or some over 70 that wants term. It basically acts like a term policy that converts the entire amount in year 11. Cash value is on an accelerated curve in years 11+ and pricing is also based on issue age of the policy so there are some advantages to it. Usually the only reason we sell them is a budget constraint where term won't work for whatever reason (our term minimum is $100k so sometimes these policies work well on folks that want temporary coverage under $100k). Under age 65 the underwriting under $100k is very lenient as well. Med records and oral fluid test only.

Remember every product has someone out there looking for it. In a perfect world everyone would buy WL or IUL but unfortunately the world isn't perfect and not everyone has huge chunks to throw at their life insurance.

 

[Mehler91]

70 y/o male whole life
I am quoting a STD rating

drugs:
syvastatin ~ cholestrol
sertraline ~ antidepressant (used to help control energy, only used when needed)

I only represent Assurity, RNA, Foresters for larger policies like this.
I do not want to do a UL unless there are very strong garantees, he has a family history of people living into their 90s (grandfather for example lived to 96)

RNA seems to be best priced I can offer:

$150K - $620.40/mo
$250K - $1,004.20/mo

Any carriers beat these prices?

Our MPWL IS $773/mo first 10 yrs for $250k, $470/mo for $150k. Premiums just about double in years 11+.
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Not a new concept. MPWL has been around a long time. I have not seen one in a while.

Is this dependent on dividends to reduce premium?

I would be interested in looking at it.

My email address is [email protected]

Thanks

Sure I will work up full illustrations for you in the AM and send it over.
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Our MPWL IS $773/mo first 10 yrs for $250k, $470/mo for $150k. Premiums just about double in years 11+.
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Sure I will work up full illustrations for you in the AM and send it over.

That is using standard rates, he MAY slide into preferred.