Do First to Die Policies Still Exist?

[secondcreek]

Had a financial advisor ask me if I could set up a "first to die" policy to fund a buy-sell agreement. Seems like I sold one in 1990 and haven't thought of these policies since.

Anyone know of a carrier still offering such a product?

 

[UW Guy]

Had a financial advisor ask me if I could set up a "first to die" policy to fund a buy-sell agreement. Seems like I sold one in 1990 and haven't thought of these policies since.

Anyone know of a carrier still offering such a product?

Most major carriers do for B/S and estate needs. Some weeks I get one a day and then I won't see one for a month.

 

[Tahoe Ray]

Most major carriers do for B/S and estate needs. Some weeks I get one a day and then I won't see one for a month.

What major carriers still offer these (besides NWM) ?

 

[Larry Tew]

Most major carriers do for B/S and estate needs. Some weeks I get one a day and then I won't see one for a month.

"Most"? The only time I ever hear "first to die" is when an agent is erroneously referring to an ordinary single-life policy as "first to die" when comparing to 2nd to die.

 

[UW Guy]

What major carriers still offer these (besides NWM) ?

Perhaps the rep was trying to scare me into a better offer but he said NYL and MM still offered them or products comparable. Lord knows our "field force" has been know to blow some smoke from time to time. I couldn't really argue but it's hard to do much better with a couple where one had stage IV throat cancer and the other just six months out from initial onset on atrial fibrillation.

 

[VolAgent]

Perhaps the rep was trying to scare me into a better offer but he said NYL and MM still offered them or products comparable. Lord knows our "field force" has been know to blow some smoke from time to time. I couldn't really argue but it's hard to do much better with a couple where one had stage IV throat cancer and the other just six months out from initial onset on atrial fibrillation.

He was lying to you unless MM just came out with it or had it hidden away somewhere.

 

[somarco]

Isn't "first to die" just another way of saying a joint life plan? I realize the difference in 2nd (or next) to die plans and their use, but first to die does sound odd

 

[unic.consulting]

Yes, Somarco, you're correct

Joint Life Insurance: Policies Built For 2 | Bankrate.com

 

[UW Guy]

He was lying to you unless MM just came out with it or had it hidden away somewhere.

Could someone else pick up some of this market share? I despise doing these policies; one insured is the picture of health and the other might as well be getting fitted for a pine box.

 

[VolAgent]

Could someone else pick up some of this market share? I despise doing these policies; one insured is the picture of health and the other might as well be getting fitted for a pine box.

Probably why no one else wants them. What you describes sounds more like a candidate for second to die.