Decreasing Death Benefit Term Life Insurance

[jsm908]

Does anyone know what carriers offer decreasing death benefit term insurance?

 

[Josh]

I don't, but I'd wonder why you'd even want it. Generally the cost difference between that and a straight term policy is relatively negligible.

 

[jsm908]

I don't, but I'd wonder why you'd even want it. Generally the cost difference between that and a straight term policy is relatively negligible.

I have a client that bought a new car and she didn't get the insurance with the loan because the rate was too high. She wanted me to see if could help her get insurance for the car loan. I didn't know of any carriers and just thought I'd see if any of you knew if this product was available.

 

[VolAgent]

I have a client that bought a new car and she didn't get the insurance with the loan because the rate was too high. She wanted me to see if could help her get insurance for the car loan. I didn't know of any carriers and just thought I'd see if any of you knew if this product was available.

If she needs insurance to pay off the car loan, she needs a lot more than just that. Get her a cheap 10 or 20 year term policy. You can probably get it for the same rate as the dealership was going to sell her for a decreasing term.

 

[Josh]

If she needs insurance to pay off the car loan, she needs a lot more than just that. Get her a cheap 10 or 20 year term policy. You can probably get it for the same rate as the dealership was going to sell her for a decreasing term.

Plus one on that. You could probably give her a 10 year term policy with a decent face for about the same price depending on her age.

 

[WinoBlues]

Probably cheaper and a longer guarantee. If you can even find one.

Go here. term4sale.com

or better yet get a free trail for compulife. If you are a member of some associations like ILIAA.org you may already have it for free.

 

[jsm908]

Thanks for the responses. I'm going to try the 10 year term route, but I wanted to see if what she wanted was available and show her the difference.

 

[Chazm]

I'm not sure of her age but it sounds like you are working on about a $100 commission....don't spend too much time figuring this out

 

[WinoBlues]

Thanks for the responses. I'm going to try the 10 year term route, but I wanted to see if what she wanted was available and show her the difference.

I had the same thing a year or so back. The guy was adamant on a DT. I found one somewhere, do not remember where. I showed him the higher DT next to the lower cost level term and said OK which do you want.