Fully Underwritten Whole Life

[xomarnie]

New agent here who could use some advice.

Which carrier(s) do you like for whole life coverage?

-Fully Underwritten
-For clients in their 30s, 40s, 50s
-No major health conditions

I'm contracted with a few carriers that offer simplified issue whole life. But don't really have good options for healthy clients who want some coverage (starting at approx. $50k min. death benefit) but are NOT interested in simplified issue term or final expense.

Thank you!

 

[Newby]

New agent here who could use some advice. Which carrier(s) do you like for whole life coverage? -Fully Underwritten -For clients in their 30s, 40s, 50s -No major health conditions I'm contracted with a few carriers that offer simplified issue whole life. But don't really have good options for healthy clients who want some coverage (starting at approx. $50k min. death benefit) but are NOT interested in simplified issue term or final expense. Thank you!

Just use the companies that you already have for FE. Trinity, Family Benefit, RNA, Foresters, Assurity, KSKJ, LaFayette, MOO.

Surely you already have a few of those that cover both FE and fully underwritten WL.

 

[pfg1]

I would have a div paying mutual or two.

 

[scagnt83]

I would have a div paying mutual or two.

Agreed. Most people think of Par WL when talking about fully underwritten. You might as well sell GUL if you sell non-par WL... you can get them more coverage per dollar.

Lafayette and Assurity both offer par WL. But they are by no means top players in the WL market. But if it's a one off type of sale they should be fine.

Penn, Mass, Guardian, & ON have excellent products.

 

[LGilmore]

I use Guardian. Great product, wonky support in my neck of the woods.

 

[Mattschmidt]

Only marketers recommend non-medical exam non participating comapnies.

Smart agents usr comapnies like mass mutual, new York life, Guardian, Penn mutual, MetLife etc.

Propose both non med and fully underwritten options. If you don't another agent will

 

[Newby]

Only marketers recommend non-medical exam non participating comapnies. Smart agents usr comapnies like mass mutual, new York life, Guardian, Penn mutual, MetLife etc. Propose both non med and fully underwritten options. If you don't another agent will

Now you are just copying your hero...me.

But as an FE agent he can just go with the ones in his bag. You don't need to waste everybody's time contracting with five participating companies when you've got Lafayette already.

 

[AboutThatLife]

Forester's has a participating product and its pretty good. Very decent dividend rate, along with more protections than your standard mutual. Assurity is not far behind, and they offer the best residuals.

The mutuals are looking for an entirely different client. If cross-selling is important to you and staying within a familiar brand for a customer, you will need to account for that in choosing a between a big mutual or not.

 

[xomarnie]

Extremely helpful. Thanks to everyone who posted.

I've heard that Forester's isn't an easy company to deal with and worse yet, they aren't always fair about paying death claims.

 

[scagnt83]

If someone wants a Par WL policy and cares about the CV, then Forester's WL is complete crap compared to the real players in the WL market.

Laffayete is strong in the early years but gets beat after year 10-15 by stronger options.


If an agent wants to provide clients with a subpar product then by all means they should just "use whatever they have now". But if you actually care about giving your clients the best possible option for their situation then you need a Mass or Guardian or Penn or ON in your bag.

I love having some no-name WL (yes Foresters is a no-name WL company when it comes to Par policies) to compete against. Makes for a very quick decision by the client.