Cuna Mutual Policies

[nfl72]

Over the past couple of years I have ran into many of these policies. They are usually sold through credit unions. I have found their pricing to be some what competitive. I know most of them are group policies.

Any good ideas on how to sell against them? In this area may people love their credit unions. My understanding is Cuna buys lists from credit unions and works them the assumption they are related to the CU, which I am told they are not.

I do have some old stock accounts with CUNA, from when I was a member of the SECU back in the 80's and 90's. The CUNA office actually rents space form the main SECU home office.

 

[noah]

I'm running into Trustage,sold through credit unions.
Yesterday I was in a house,I could only get 1 out of the three prospects (the 1 with no coverage),the other 2 had 10k each for under $30 a month with them.
I have found that I'm about 10% higher with my lineup,can't beat their rates.
Not sure they offer anything graded so that may be the only way you can beat them.
I posed this very same question with my upline,he says walk away.

 

[Rearden]

CUNA has a few variations:

1) A group permanent life product with simplified underwriting questions -- this is especially competitive for smokers as CUNA does not ask whether or not the Insured smokes.

2) They also offer a Guaranteed Issue product that can easily be beat.

You'll have to pull the policy to see; I've seen both in the field, with the underwritten product becoming more common.

 

[noah]

Smokers will easily go with the credit union option,especially since there so many things that are anti smoking. I mean who else have you ever heard of favoring a smoker in this day and age ?

 

[Eldo]

Ran across this yesterday...Male 54 Smoker...had a birthday the same day...

I quoted Oxford and could not beat the rate he got from his Credit Union.

CUNA does not rate up for smokers.

 

[JimmyUt]

CUNA has a few variations:

1) A group permanent life product with simplified underwriting questions -- this is especially competitive for smokers as CUNA does not ask whether or not the Insured smokes.

2) They also offer a Guaranteed Issue product that can easily be beat.

You'll have to pull the policy to see; I've seen both in the field, with the underwritten product becoming more common.

They also have a term policy similar to what AARP sells that I have come across. I am not sure if they sell it any longer, but it is out there.

 

[jdeasy]

They also have a term policy similar to what AARP sells that I have come across. I am not sure if they sell it any longer, but it is out there.

Their term is usually level premium to age 75. Then it ends or they can convert to whole life. I've found the whole life to be very high priced. Replaced several of them. Maybe they were all non smokers?

 

[Eldo]

Their term is usually level premium to age 75. Then it ends or they can convert to whole life. I've found the whole life to be very high priced. Replaced several of them. Maybe they were all non smokers?

I dissected the policy my prospect received in the mail from CUNA.

It was Whole Life Paid up @ 95.

Could not beat their rates. Oh well...NEXT!!

 

[WholeLife]

Ran across this yesterday...Male 54 Smoker...had a birthday the same day...

I quoted Oxford and could not beat the rate he got from his Credit Union.

CUNA does not rate up for smokers.

You might take a look at Christian Fidelity, sister company of Oxford. Same product as Oxford, same app but with the CF name on it. CF rates are maybe 5-10% lower than Oxfords. The commission is also lower than what you would get for selling Oxford, but it's better than leaving the house with empty pockets.

 

[noah]

You might take a look at Christian Fidelity, sister company of Oxford. Same product as Oxford, same app but with the CF name on it. CF rates are maybe 5-10% lower than Oxfords. The commission is also lower than what you would get for selling Oxford, but it's better than leaving the house with empty pockets.

If you cannot beat the price the one of the credit union based carriers is offering your prospect,what's the best thing to tell the prospect before you pack up and walk out empty handed ?