FE Persistency Lead/non Lead

[Rearden]

A/S/L?

I'm sure other competitive FE companies will lower their rates in retaliation. Thank God for the free market.


-Dave

 

[mlg]

• Up to $15,000 in life insurance coverage
• No medical exam
• No health questions
• Rates won't increase just because you grow older
• Permanent insurance you can keep your entire life
• Simple enrollment form; acceptance is guaranteed*
• Limited benefits for first two years

 

[jdeasy]

Just ran a quote through aarp/nylife website. It was 185.00 a month for 25k based on my mother who is 72 and in perfect health. That was with there permanent plan which is 2500 to 50k. Also ran their guaranteed up to 15k. I ran for the max 15k and it was 123.00 a month. No health questions answered though, just age, sex and location.

The whole life with RNA for your mother would be $86/mo for $15000 face. So, the AARP stuff is way over priced and it will be a two year ROP with no health questions on it. The RNA is immediate coverage.

For $25000 it's $141/mo. Others would be even better. That's not much more than the AARP "permanent" which is UL.

Nothing to worry about with this new offering from AARP. Probably make it easier to show people that AARP is actually UL when they have their own whole life to lay down beside it.
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Image:

• Up to $15,000 in life insurance coverage
• No medical exam
• No health questions
• Rates won't increase just because you grow older
• Permanent insurance you can keep your entire life
• Simple enrollment form; acceptance is guaranteed*
• Limited benefits for first two years

That still doesn't read like a whole life plan. Why don't they say rates are guaranteed to never increase instead of "rates won't increase just because you grow older". That's the same language they put in their UL promotional stuff.

 

[TDFnCali]

Just ran a quote through aarp/nylife website. It was 185.00 a month for 25k based on my mother who is 72 and in perfect health. That was with there permanent plan which is 2500 to 50k. Also ran their guaranteed up to 15k. I ran for the max 15k and it was 123.00 a month. No health questions answered though, just age, sex and location.

If this is their whole life rates, then we have no fear.....thats only $37 higher then RNA's & Monu's standard rates would beat it by $8/mo. Go ahead AARP, give us more replacements!

 

[Newby]

The whole life plan is priced exactly the same as their permenent plan. But the guarantee reads Your rates can never be increases for ANY reason.

It's only approved in 7 states so far. Rhode Island is one of them. Once it's approved in each state they will completely stop selling the permenent plan.

I audio recorded the whole conversation (they disclosed they were recording the call so I figured it was OK).
I caught the guy in such lies he couldn't talk his way back out. I may send it to John Stossell.

 

[rousemark]

The whole life with RNA for your mother would be $86/mo for $15000 face. So, the AARP stuff is way over priced and it will be a two year ROP with no health questions on it. The RNA is immediate coverage.

For $25000 it's $141/mo. Others would be even better. That's not much more than the AARP "permanent" which is UL.

Nothing to worry about with this new offering from AARP. Probably make it easier to show people that AARP is actually UL when they have their own whole life to lay down beside it.
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That still doesn't read like a whole life plan. Why don't they say rates are guaranteed to never increase instead of "rates won't increase just because you grow older". That's the same language they put in their UL promotional stuff.

Rates aren't guaranteed. This statement is in the fine print below the rates:

Premiums above are the rates New York Life currently charges. They are based on your age at issue. Premiums are not guaranteed. However, your rates may change only if they are changed for all others in the same class of insureds under this group policy

http://www.nylaarp.com/Life-Insurance/Guaranteed-Acceptance

 

[jdeasy]

Rates aren't guaranteed. This statement is in the fine print below the rates:

Premiums above are the rates New York Life currently charges. They are based on your age at issue. Premiums are not guaranteed. However, your rates may change only if they are changed for all others in the same class of insureds under this group policy

AARP Guaranteed Acceptance Life Insurance from New York Life

That's the UL. Newby is saying they have a new product.

 

[rousemark]

That's the UL. Newby is saying they have a new product.

Yeah.. but MLG posted the information on their old (current) product from their website, not the new WL. Just pointing out they didn't read far enough.

 

[mlg]

is there a link for the new stuff. did a search but did not see anything

 

[Newby]

is there a link for the new stuff. did a search but did not see anything

I don't know. I just called them to get the rate for their "permenent" plan for a guy I was going out to educate out of their term and wanted to be able to answer his NEXT question.

After the NYL Salesman gave me his BS sales pitch that included the rates could NEVER go up and the coverage could never be dropped about three times, I started reading the brochure to him about "Premiums are not guaranteed".

He starts backtracking and telling me that ALL companies can raise the premiums on ALL whole-life products but NYL never has. (More BS lies)

I read him the brochure on Settlers and Monumental where is says "premiums will NEVER increase."

I cornered him with "the other companies will guarantee inwriting what you will only guarantee verbally. If I buy this policy from you can you give me a written guarantee that the rate will never go up?

He says No, this product does not have that kind of guarantee.

That's when he told me NYL/AARP has a NEW life insurance plan where it says the premiums are guaranteed for life and will never increase. But it's not in Kentucky yet...or Indiana...or Florida...or Texas...or California. So far it's only in Rhode Island. But it's comming everywhere.

It's priced the same as their non-guaranteed product is.

It's a beautiful piece of audio tape where he (AARP Salesman) is definitely making BOLD guarantees that he knows are not true. And makes it obvious that he knows the truth 3-minutes later in the conversation.

I recommend ALL agents to call them and when the message says "This call is being recorded" start your own recording.

It's a beautiful thing.