Final Expense Companies That Can Sell in New York

[jmarkk1]

Does anyone know of any good final expense companies that can sell in New York? If so, what's the contracting info?

 

[Todd King]

I do have a company for NY.
I'm not quite sure what you mean by contracting info, but if you want to contact me I can tell you all about them.

 

[360]

Since you're in NC I'll assume you need to sell it over the phone. I think American Progressive will be your only option.

 

[Josh]

f2f, Presidential (GI and SIWL), Columbian, and American Progressive are pretty much the big three.

 

[jmarkk1]

f2f, Presidential (GI and SIWL), Columbian, and American Progressive are pretty much the big three.

Who is f2f?

Of the ones listed, which ones have the highest amount that you can purchase that offer a level benefit, not just graded or modified?
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Since you're in NC I'll assume you need to sell it over the phone. I think American Progressive will be your only option.

With American Progressive, do they offer level benefit plans or just graded/modified? How much can be bought?

I'm looking for one with at least $25k, and it doesn't have to be just final expense, simplified whole life works too.

 

[arnguy]

"f2f"=face to face sales.

 

[TRSecurity]

MedPlanSolutions hit the nail on the head. Focus on the 3 main players.

Columbian and Amer Progressive go up to 25k. Presidential up to 50k. You can get level or graded on each. Death Benefit limitations on age and for graded policies. In NY, the age restrictions are tighter than the rest of the country.

For those who want underwriting and are price sensitive, Genworth goes as low as 25k in NY.

 

[jdeasy]

I was talking to a New York FE agent today and he told me that you mucst collect the first premium in New York. No draft on issue or future drafting.

Is that the case for all companies there?

 

[TRSecurity]

You have to submit the first premium with the application. You can collect a voided check for the first premium, which they must draft before the policy becomes effective.

They draft the premium and then tell you the client is approved. If they decline the policy, they get their premium back weeks later.

This isn't the case for non-simplified issue products.

 

[360]

With American Progressive, do they offer level benefit plans or just graded/modified? How much can be bought?

I'm looking for one with at least $25k, and it doesn't have to be just final expense, simplified whole life works too.

With American Progressive:

Level
Age 45-64 $2,500-$35,000
Age 65-80 $2,500-$25,000
Age 81-85 $2,500-$10,000

Graded
Age 50-64 $2,500-$25,000
Age 65-75 $2,500-$10,000