Final Expense Riders

[Baseball7]

Debating a Trans Grand Rider vs MOO CWL is silly. Sell them a 10 or 20 pay policy so its actually paid up at some point. At least the debit companys get that part right in the city.

 

[NSRH]

Grandma can't convert them but the child can. If Grandma dies or if she lapses her policy it is likely the children's WL life policy will also lapse so there's is no guarantee the kiddy policy will remain in force. In fact, it is the rider that is guranteed to stay in force to their coming of age in case of her death, not the individual policies. Nothing wrong with writing individual policies but it is not accurate to say the rider coverage ends with their death.

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BTW, realized my original post sounded condescending so I corrected it but you had already quoted it. I apologize. I did not mean to come across that way.

Actually, with American Amicable, if the insured passes away, the rider turns into a paid up policy to age 25.

 

[HoosierDaddy]

Actually, with American Amicable, if the insured passes away, the rider turns into a paid up policy to age 25.

It should for as much as they over paid for it. What happens if the policy is contested and rescinded?

 

[rousemark]

It should for as much as they over paid for it. What happens if the policy is contested and rescinded?

It goes bye bye....

 

[NSRH]

It should for as much as they over paid for it. What happens if the policy is contested and rescinded?

If any policy with any carrier is contested and rescinded you know what happens, don't you?

I was simply adding to the conversation about riders, it is unique for a rider like to to go paid up, most riders dont do that, in case you didnt know.

 

[PA Bill]

Be careful doing one of these grandchild riders with Trans.

Agent- "So you like this extra benefit for the "grans"?
Prospect- "Indeed!"
Agent- "Well, their parent or legal guardian needs to sign off on it."
Prospect-" No problem Mr. Agent, I'll probably see them over the weekend. Just leave me with the application and I'll call you next week."

p.s.- But hey, it won't hurt your persistency. Unless you sell for a company that penalizes you for business that never gets written in the first place.

 

[rousemark]

Be careful doing one of these grandchild riders with Trans.

Agent- "So you like this extra benefit for the "grans"?
Prospect- "Indeed!"
Agent- "Well, their parent or legal guardian needs to sign off on it."
Prospect-" No problem Mr. Agent, I'll probably see them over the weekend. Just leave me with the application and I'll call you next week."

p.s.- But hey, it won't hurt your persistency. Unless you sell for a company that penalizes you for business that never gets written in the first place.

I would almost never offer a rider that requires a third party to sign the app.. and certainly would not if they were not rpesent at the time of application completion.

When presenting cancer or accident insurance on the job site, I only use carriers that do not require spouse signature. Don't want the wife taking the app home to get it signed (or even worse my having to make a trip to the home to witness the signature) and the husband saying, "We don't need that".

 

[HoosierDaddy]

If any policy with any carrier is contested and rescinded you know what happens, don't you?

I was being rhetorical...

 

[PA Bill]

I would almost never offer a rider that requires a third party to sign the app.. and certainly would not if they were not rpesent at the time of application completion.

When presenting cancer or accident insurance on the job site, I only use carriers that do not require spouse signature. Don't want the wife taking the app home to get it signed (or even worse my having to make a trip to the home to witness the signature) and the husband saying, "We don't need that".

Yeah man. Many companies' operations seem to revolve around what is occasionally called around here the "Business Prevention Department ". But try telling that to the lawyers and bean counters who rule the roost these days.

 

[Baseball7]

That's a Pa issue PA Bill, cross over to NJ and Trans riders don't require a Parental signature.