Fechick
Expert
- 80
Anyone ever written FB policy for someone under 50? Is the underwriting different? Rates competitive?
Family benefit policy for under 50
- Thread starter Fechick
- Start date
- 17,073
Are you asking about the fully underwritten WL? Yes our agents use it often. Yes the underwriting is different than their final expense. But if you're writing smaller amounts like final expense policy under $25,000 in issues pretty quickly. You generally want to go with a little healthier people on under written whole life. If you have a younger person with a lot of health issues you want to look at American Memorial's final expense product or any of the other final expense products that uses the same app for all ages.
- Thread starter
- #3
Fechick
Expert
- 80
Hello newby... ur newest fex buddy down south here! I was going to use this for clients who want coverage on their adult kids and grandkids. Most times, they are healthy, but sometimes there are issues. I want to place as much business with them as possible, so wanted to see if this product was competitive.
- 17,073
The main thing you want in a company if you are going to write a lot of grandkids is a company that allows the GRANDPARENTS to buy it, pay for it, and answer the health questions. It adds a whole level of difficulty chasing down the parents every time grandma want to buy child policies.
I personally used to use Settlers for those because they made it so easy. I don't know off the top of my head if Trinity/Family Benefit does or not. But it would be a great question for Nick to have JD answer when he interviews him. JD uses the Trinity fully underwritten as well as the KSKJ participating whole-life a lot and he knows which companies make things like that easy.
- Thread starter
- #5
Fechick
Expert
- 80
LBL has a fantastic child and grandchild rider, but you always want a backup. I have ALWAYS had the grandparents own the policy and /or rider because as you said alot of wasted time trying to chase down the parent.....they're so irresponsible, usually my client puts coverage on them too!
- Thread starter
- #7
Fechick
Expert
- 80
No doubt....like I said above, if they're too irresponsible to take out coverage on their own kids they can be uncooperative when the g.parents want to....had it happen before and just blew my mind ...
Gosh how i miss Settlers Life! TEARS!!!!
