First of all - we need a Term Insurance sub-forum . . .

[myinsurebiz]

So - let me start:

I'm having fun with Term . . .

The demographics are so different than FE or WL. 25 to 55 peeps really do want protection. Plus - they understand the need for it . . . They just don't want a high premium shoved down their throat just because . . .

One thing I really like about Non-Med Term is quick decisions, like with Sagicor, it's instantly and no normal POS PHI - haven't had one needed yet . . . MoO has a vast array of affordable products - this is who I'm using for FU peeps wanting bells & whistles with "other insured" . . .

Play along and play nice. I'd like to become an expert in this area . . .

 

[DHK]

I'd like to become an expert in this area . . .

I'm all for that for you! There's certainly room for people to become an expert in term life insurance.

In my opinion, just don't badmouth permanent plans. You never know how you'll evolve your understanding of things in the future.

As part of your "term expertise", make sure you understand conversion provisions with each policy you offer.

Just a quick outline:
- Most mutual whole life-type companies offer term life insurance primarily for the option to convert... and it's priced for that value (meaning more expensive). This is NYL, Mass, NWM, etc. Normally I'd put Ohio National in such a list, but their term is quite competitive!
- There are "cheap term" companies... but they are usually cheap due to the stripped nature of benefits and definitions behind various terms. Banner comes to mind.
- Obviously you know about non-med companies as they are (generally) easier to issue, but be aware that they may not have competitive conversion options.

If you're focusing on getting people protection today... non-med is certainly tempting... but it depends on if you want to continue to work with the client long-term and possibly convert that term to a cash value (or GUL) plan.

 

[myinsurebiz]

I'm all for that for you! There's certainly room for people to become an expert in term life insurance.

In my opinion, just don't badmouth permanent plans. You never know how you'll evolve your understanding of things in the future.

As part of your "term expertise", make sure you understand conversion provisions with each policy you offer.

Just a quick outline:
- Most mutual whole life-type companies offer term life insurance primarily for the option to convert... and it's priced for that value (meaning more expensive). This is NYL, Mass, NWM, etc. Normally I'd put Ohio National in such a list, but their term is quite competitive!
- There are "cheap term" companies... but they are usually cheap due to the stripped nature of benefits and definitions behind various terms. Banner comes to mind.
- Obviously you know about non-med companies as they are (generally) easier to issue, but be aware that they may not have competitive conversion options.

If you're focusing on getting people protection today... non-med is certainly tempting... but it depends on if you want to continue to work with the client long-term and possibly convert that term to a cash value (or GUL) plan.

I know you love to hate me - but, thanks for the correct advice you always show me. Really . . .

 

[DHK]

Kinda like parenting: you know your kids will mess up... but you can wring 'em out and set 'em straight. Just don't leave 'em in the mess!

 

[myinsurebiz]

Kinda like parenting: you know your kids will mess up... but you can wring 'em out and set 'em straight. Just don't leave 'em in the mess!

No mess man. If not in their best interest - I can walk away.

Heck - I may even call you for advice on certain cases

 

[DHK]

I was only talking about how I respond to you on the forum. If you're "straying" from what's good for you, I'd let you know - as I have. I won't BS you... or anyone else.

I've already been badmouthed by "crazies" on here who couldn't handle the truth. At least you take your lumps decently.

https://insurance-forums.com/commun...it-the-use-of-real-names-on-the-forums.93006/

 

[adjusterjack]

25 to 55 peeps really do want protection. Plus - they understand the need for it . . . They just don't want a high premium shoved down their throat just because . . .

Kudos to you. It's about time somebody spoke up about term insurance. I never could reconcile myself to selling a young family man a $10,000 whole life policy when he could buy 6 figures of term for a fraction of the cost.

 

[goillini52]

I know you love to hate me

I've always heard that there's a very thin line between love and hate.

 

[Life Hawk]

Play along and play nice. I'd like to become an expert in this area . . .

I have been running simple non-med term for quite sometime... best fit for most young'ens like you stated... especially single parents who need coverage but can't handle $50 month premiums.

I use my front runner on these cases and can have a decision in a day or two... has to be F2F.

I'd like to become an expert in this area . . .

You will by doing... and learning

I know you love to hate me

I don't even really know you... seem like a nice guy... but you seem to have a ton of energy, just need a little more focus.

 

[VolAgent]

Kudos to you. It's about time somebody spoke up about term insurance. I never could reconcile myself to selling a young family man a $10,000 whole life policy when he could buy 6 figures of term for a fraction of the cost.

Its funny. People complain about this more than it actually happens.