Formula to Calculate Term and Whole Life?

[thethrowdest]

How do these websites calculate basic quotes on risk level between carriers?

For example how can I calculate about what it would cost for 300k 30 year term coverage for a standard risk applicant?

How about doing this with different carriers?

Are there any apis I can use programmatically?

Thanks!

 

[thethrowdest]

The link you gave me only has suggestions for term, does compulife also do whole life as well?

 

[WinoBlues]

The link you gave me only has suggestions for term, does compulife also do whole life as well?

No. They have GUL as well. FexQuotes has term, GUL and SIWL. NinjaQuoter has term and GUL

 

[Robert Barney]

The link you gave me only has suggestions for term, does compulife also do whole life as well?

And what do you define whole life to be?

You see, I consider whole life to be a policy of insurance that will be in force for the "whole" of your "life". If the product provides a fully guaranteed lifetime premium, and a fully guaranteed lifetime death benefit, then that meets my definition of whole life.

As you will see, others argue that it is something else and that it doesn't include guaranteed no lapse UL.

If what you are looking for is the lowest cost form of lifetime coverage, yes, Compulife quotes that in:

life pay
pay to 100
pay to 65
20 pay
10 pay
single pay

You can email me for more information:

barneyrl at compulife.com

You can also see an example at: Life Insurance Quotes

Not all the companies in Compulife are available for viewing at Life Insurance Quotes

 

[Newby]

And what do you define whole life to be? You see, I consider whole life to be a policy of insurance that will be in force for the "whole" of your "life". If the product provides a fully guaranteed lifetime premium, and a fully guaranteed lifetime death benefit, then that meets my definition of whole life. As you will see, others argue that it is something else and that it doesn't include guaranteed no lapse UL. If what you are looking for is the lowest cost form of lifetime coverage, yes, Compulife quotes that in: life pay pay to 100 pay to 65 20 pay 10 pay single pay You can email me for more information: barneyrl at compulife.com You can also see an example at: Life Insurance Quotes Not all the companies in Compulife are available for viewing at Life Insurance Quotes

Bob, I was still a little bit on your side. I saw your plight. You were stolen from. You handled it in the worst possible way but I do hope that you do someday get to meet the dirt all in court.

But you know better than to call GUL, Whole-Life. They are two completely different products. Agents who use the wrong names for products are morons. You are cheating consumers if you don't show them both products, explain the difference and let them decide which one they want.

Scum-bags call things whole-life that aren't whole-life. At what age is your GUL guaranteed to endow? ALL whole-life policies have a guaranteed endowment age.

 

[DHK]

There is a difference between what Bob calls "whole life insurance" and a "whole life insurance policy". The difference is in two little letters: E&O.

A true professional uses the proper vocabulary and terms for their industry and is very precise in how they use them. They do not call a "universal life insurance policy" a "whole life policy" because it is NOT. Only amateurs make that mistake. Professionals know the difference, are precise in their terms, and can even explain the exact differences to clients so they can make informed decisions.