Does Lincoln Heritage Lowball Your %age?

[wehotex]

I just spoke with a LH "upline" who wanted me to sign a "75%" contract. He gave me the same ol song and dance that most uplines give you about taking you in, teaching you a new skill, etc. He said that they have a lead program, mentioned nothing about them being $0 cost. Then I could work my way up to 80% in a few months, blah blah blah. A buddy of mine has a "65%" contract. What gives? Is this what they offer everyone? I don't wnat to work for someone that has their hands in my wallet all of the time. I like them for their liberal underwriting and their 20-pay whole life. But is LH worth it given that they want to take so much away from me?

 

[360]

The only thing most agents would have used them for was their near GI Graded product. If you're doing most of your business in TX you could substitute CSA for that. There are tons of posts discussing LH, for me they are generally a non-issue in states that we have access to CSA in.

As far as Lincoln Heritage comp goes you'll generally see people contracted at 50% up to 90% in most cases.

 

[wehotex]

The only thing most agents would have used them for was their near GI Graded product. If you're doing most of your business in TX you could substitute CSA for that. There are tons of posts discussing LH, for me they are generally a non-issue in states that we have access to CSA in.

As far as comp goes you'll generally see people contracted at 50% up to 90% in most cases.

What is CSA?

 

[360]

What is CSA?

CSA Fraternal Life - Welcome to the CSA Fraternal Life Website.

 

[Mark]

WOW they have a 1 year term plan...I didnt know companies still sell that.

 

[FEX Quotes]

One Year R&C Term; takes me back a looong time. This was the crap that that started the buy term & investment the difference song and dance.

WOW they have a 1 year term plan...I didnt know companies still sell that.

 

[VolAgent]

One Year R&C Term; takes me back a looong time. This was the crap that that started the buy term & investment the difference song and dance.

Wrong answer, but nice try.

ART exists as a product to make certain tax code plans (419, 412i, 162) possible. And there are certain times when it is an appropriate sale. ART underlies all insurance products, it is what they are all based on.

BTID was invented as a way to replace whole life and get access to the cash value.

 

[WinoBlues]

One Year R&C Term; takes me back a looong time. This was the crap that that started the buy term & investment the difference song and dance.

Remember Jane Bryant Quinn's Money magazine articles touting ART in the 80s? I hated her and The Coach back then. I have seen the error in my ways. They have made me a lot of money over the years. Same with Decreasing Term. Many people say that term is inventory. ART and DT are a gift to agents. Not a lot of it out there, but there is still some. I just found some DT with cash values.

Funny, Jane and the Coach are not there to help those that followed their advice 20 years ago. Now these people are 50 -70 years old. Diabetic, HBP, Cancer history, Elevated PSA, and so on.

She has changed a little since the 80's but not much. I like #3. But 1 and 2 are also income.
What Happens When Your Term Life Insurance Runs Out? 3 Tips - CBS MoneyWatch.com

 

[FEX Quotes]

Actually it's the right answer. Back in the early 80's when Art Williams and his cult's BTID crusade started gaining steam, ART was essentially the only term option available. Albeit there were some 5 & 10 year products, but generally speaking ART was the term product of choice. You are correct that the BTID mantra initially targeted inforce WL policies, but was further exapnded to capturing the minds (and check books) of young families starting out who had no in force coverage.

Ultimately UL and VUL became our industry's answer to BTID..

Wrong answer, but nice try.

ART exists as a product to make certain tax code plans (419, 412i, 162) possible. And there are certain times when it is an appropriate sale. ART underlies all insurance products, it is what they are all based on.

BTID was invented as a way to replace whole life and get access to the cash value.

 

[VolAgent]

Actually it's the right answer. Back in the early 80's when Art Williams and his cult's BTID crusade started gaining steam, ART was essentially the only term option available. Albeit there were some 5 & 10 year products, but generally speaking ART was the term product of choice. You are correct that the BTID mantra initially targeted inforce WL policies, but was further exapnded to capturing the minds (and check books) of young families starting out who had no in force coverage.

Ultimately UL and VUL became our industry's answer to BTID..

I wasn't there obviously, but I understand that 5 year term dominated then. Also, BTID predates A.L. Williams by at least 30 years if not more.

Also as I said, ART no longer exists primarily as a product to sale, but in order to calculate the term cost for certain plans based on the tax code.