Female - Age 70 - Non - 5’ 41/2” 140#s

[VolAgent]

^^^What he said..........

How many of your clients have ever seen a check for $6,000 until you delivered the death claim, much less are in a position to pay that as a premium?

 

[GoCubsGo]

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The difference is that if for any reason an insured misses a prem pymt down the road, at a point when there is no internal value in the policy with GUL, the policy can and will lapse. Comparably the WL policy with APL will carry itself for some period of time depending upon the age of the policy. So there is a degree of forgiving nature to the WL policy compared to the GUL. When using a policy for FE my inclination is to greatly prefer the WL approach vs GUL.

It's a good point. I was just wondering if there was anything else. It can be a lot more money, 500 to 1,000 per year and so many are on such tight budgets. There is some forgiveness in GUL, non-G in the early years but nothing in the later ones. A WL can be surrendered for the $ which I would think would be tempting to do if financial problems were causing missed payments. I'm debating with myself here. ha

Can't get past spending that much more of their money.

 

[jdeasy]

How many of your clients have ever seen a check for $6,000 until you delivered the death claim, much less are in a position to pay that as a premium?

Probably none of them. I must be missing your point.
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It's a good point. I was just wondering if there was anything else. It can be a lot more money, 500 to 1,000 per year and so many are on such tight budgets. There is some forgiveness in GUL, non-G in the early years but nothing in the later ones. A WL can be surrendered for the $ which I would think would be tempting to do if financial problems were causing missed payments. I'm debating with myself here. ha

I don't know where you are getting those prices but I haven't seen GUL's for $7000 to $12000 face that were much, if at all, less premium than whole life.

 

[GoCubsGo]

I wrote a 75 male with North American, 25K at 95.98/mo while RNA was 141.68/mo. About $550 a year dif. I recently looked at an 85 male, 25K with NA was 209/mo while RNA was 283/mo. That's a grand a year. Genworth is about the same rates as NA. DOn't know of any GUL that goes below 25K.

 

[VolAgent]

Probably none of them. I must be missing your point.

That these guys selling GULs are not working the typical FE market? When you talk about your clients, I just can't see them first having the money and then being responsible enough to keep the money in the account for the payment to clear.

 

[jdeasy]

That these guys selling GULs are not working the typical FE market? When you talk about your clients, I just can't see them first having the money and then being responsible enough to keep the money in the account for the payment to clear.

That is the FE market. I wouldn't be opposed to selling a GUL to a senior, or anyone else for that matter, that has always managed their money. Always had a bank account and knew the risks and rewards. None of that describes the FE market.

So I guess we are agreeing.
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I wrote a 75 male with North American, 25K at 95.98/mo while RNA was 141.68/mo. About $550 a year dif. I recently looked at an 85 male, 25K with NA was 209/mo while RNA was 283/mo. That's a grand a year. Genworth is about the same rates as NA. DOn't know of any GUL that goes below 25K.

OK. That would probably be my path too but that ain't my market.

Did you meet those people from an FE mailer?

 

[VolAgent]

That is the FE market. I wouldn't be opposed to selling a GUL to a senior, or anyone else for that matter, that has always managed their money. Always had a bank account and knew the risks and rewards. None of that describes the FE market.

So I guess we are agreeing.

Yeah, you just need to learn to recognize the setup line a little better.

 

[jacobtn]

Hey JD, just curious, I know most of the folks that you come in contact with are FE only prospects... do you ever write any fully underwritten UL for folks that are healthy and need higher face amounts? I just got a lady approved on a Guaranteed UL to age 120, age 77, $169k face, $6,000 yr premium

Hello, just curious which carrier did you use for the 77 year old; I have a 67 year old looking for about 150k, diabetic, not sure about A1c, or Ht/wt; Florida

North American. She was quite healthy and they still ordered 2nd paramed just to make sure...? Approved her at standard.