I am working on a case for a 56 year old male who received a preferred status, he wants a 30 year term policy. Of the many companies I have available to use, transamerica was the only I found that offered a 30 for 56 year old male. Does anyone know if Harleysville, can offer him a 30 year?? Thanks
Can Anyone Tell Me if Harleysville Insurance Offers a 30 Year Term to a Healthy Male of 56?
- Thread starter FA100
- Start date
I don't know about Harleysville but just curious, why can't you just offer him the Trans? Also, if he needs coverage into his 80's I'm guessing we're not talking just income replacement here....can you give us some more specifics? (state, face, reason etc.)
- Thread starter
- #3
Thanks for responding. I did offer the Trans policy, but a friend of the clients said he could offer a $500k death benefit through Harleysville for the same premium as the trans $250k policy ($2080). That just didn't sound right, so when I tried to look up the rates for Harleysville the longest term I saw for the clients age was 20 years. The client wants coverage into his 80s, but did not want to pay for Whole Life.
I guess I just want to know if what the client told me about Harleysville could be correct. Thank you.
First off, Pru comes in at $1885 for 250k. They are current age so depending on his birthday, you may be able to save age and save him some $.
I would be very surprised if that is the case w/ Harleysville. Trans is pretty competitive at age 55 vs. Banner, Protective etc. for the client that you described so to have all of those carriers be almost 50% more expensive than the company you mentioned doesn't make sense.
Also, Trans is at $2015 for 500k of 20yr term...I would guess that your client is mistaken. Ask him to send you the quote that he was provided...
As an aside, I don't know why the client would want term coverage into his 80's but if he wants to guarantee that the death benefit will pay out, Midland's GUL is only $3030 for 250k.
I hope that this helps.
Similar threads
