Child Only Policies

[bill3173]

Just curious which carriers you use for child only policies? I've used them all, but recently I've had a string of requests for child only policies, and they literally want them for fe. The best one I've found in terms of application and price has been the Moo modified policy.

 

[Mattschmidt]

Look into MetLife, or NYL for Children's Participating Whole Life policies.

 

[jdeasy]

Just curious which carriers you use for child only policies? I've used them all, but recently I've had a string of requests for child only policies, and they literally want them for fe. The best one I've found in terms of application and price has been the Moo modified policy.

I use RNA almost exclusively. There is no way the LH modified policy would be well priced. And why on earth would you a healthy child into a graded or ROP policy? Even Monumental would be a better choice than that.

I almost always use RNA's 20 pay for children and Monumental's 10 pay.

 

[kwamster]

Just curious which carriers you use for child only policies? I've used them all, but recently I've had a string of requests for child only policies, and they literally want them for fe. The best one I've found in terms of application and price has been the Moo modified policy.

Are you referring to Mutual of Omaha?

If not, I would have to say that they have a pretty good children's whole life policy.

They offer:

1) Coverage for ages 0-25.

2) No smoker question.

3) Initial coverage up to $30,000 with the opportunity for insured's to double the face amount (with out proof insurability) at ages 30, 33, 36 and 39 for a total max. coverage amount of $120,000.

4) Low unisex premium rates.

5) Simplified issue, with only two fairly basic health questions.

6) Up to four children per application.

7) Signature, S.S # and address information of the child is not required.

8) Can be taken out by parents, grand parents and great grand parents on their grandchildren.

The only thing that I don't like, is that they make you hand deliver the policy, as opposed to giving you the option to have the policy mailed directly to the owner.

It's no big deal if you have just one or two policies to deliver, but if you are writing a whole lot of business and have to fit delivering those policy's into to your schedule along with running new appointments, it could potentially become a problem.

 

[Guest]

Are you referring to Mutual of Omaha?

If not, I would have to say that they have a pretty good children's whole life policy.

They offer:

1) Coverage for ages 0-25.

2) No smoker question.

3) Initial coverage up to $30,000 with the opportunity for insured's to double the face amount (with out proof insurability) at ages 30, 33, 36 and 39 for a total max. coverage amount of $120,000.

4) Low unisex premium rates.

5) Simplified issue, with only two fairly basic health questions.

6) Up to four children per application.

7) Signature, S.S # and address information of the child is not required.

8) Can be taken out by parents, grand parents and great grand parents on their grandchildren.

The only thing that I don't like, is that they make you hand deliver the policy, as opposed to giving you the option to have the policy mailed directly to the owner.

It's no big deal if you have just one or two policies to deliver, but if you are writing a whole lot of business and have to fit delivering those policy's into to your schedule along with running new appointments, it could potentially become a problem.

WHAT THE HELL ELSE WOULD MOO stand for?

 

[rousemark]

Settlers.. Single premium, 10 pay, 20 Pay.

 

[bill3173]

I use RNA almost exclusively. There is no way the LH modified policy would be well priced. And why on earth would you a healthy child into a graded or ROP policy? Even Monumental would be a better choice than that.

I almost always use RNA's 20 pay for children and Monumental's 10 pay.

I was referring to the Moo children's policy, not modified, I was working and typing at the same time. The price on it here is $5.20/mo $10K for ages 7-12 and $6.70 $10K ages 13-19. I wrote four chilluns today for a $23.80/mo.

They let you put all of the children on one app, which is great for me. I do a lot of childrens policies with health apps and it was the biggest pain in the behind to have them sign several apps just to get small face amount wl of their children.

 

[Jerard]

The price on it here is $5.20/mo $10K for ages 7-12 and $6.70 $10K ages 13-19. I wrote four chilluns today for a $23.80/mo.

They let you put all of the children on one app, which is great for me. I do a lot of childrens policies with health apps and it was the biggest pain in the behind to have them sign several apps just to get small face amount wl of their children.

Bill...These sound great. Are these plans limited pay or 'foreverrrrr'?

 

[kwamster]

WHAT THE HELL ELSE WOULD MOO stand for?

"WHEN HILLBILLIES GET MAD"

WHEN HILLBILLIES GET MAD - YouTube

 

[pbbaseball]

i always liked liberty bankers plan based on cost per thousand... $15 minimum premium