Gerber Life College Plan

[jn8691mr]

Does anyone know a company offering something similar to this plan? Looking for a company that I can possibly contract directly with for a higher commission. My current contract level with Gerber through my current IMO is only 50% For example, a parent can buy a $10,000 Gerber Life College Plan for their healthy 7-year-old daughter with an 18-year premium payment period. Since the monthly premium is $33.33, a total of $7,200 in premiums will be paid over 18 years. When the insured person turns 25, the face amount of $10,000 is payable -- a $2,800 gain over 18 years and a 39 percent increase from the total premiums paid.

 

[goillini52]

Does anyone know a company offering something similar to this plan? Looking for a company that I can possibly contract directly with for a higher commission. My current contract level with Gerber through my current IMO is only 50% For example, a parent can buy a $10,000 Gerber Life College Plan for their healthy 7-year-old daughter with an 18-year premium payment period. Since the monthly premium is $33.33, a total of $7,200 in premiums will be paid over 18 years. When the insured person turns 25, the face amount of $10,000 is payable -- a $2,800 gain over 18 years and a 39 percent increase from the total premiums paid.

I don't know of any others, but what I do know is that at 50%...you're getting screwed. What are you getting for the College Plan?

 

[jn8691mr]

I'm assuming 50%. It's not on my comp schedule. I plan on calling Monday. On the guaranteed issue product I'm at 50%

 

[goillini52]

I'm assuming 50%. It's not on my comp schedule. I plan on calling Monday. Loft the guaranteed issue I'm at 50%

Here's street level:
GI = 60%
Grow Up = 45% <$24,999...55% >$24,999 F.A.
College Plan = 10%(10-15 years)...18%(16-20 years)...3%(Single Premium)...4%(5 years of premium)
Accident Protection = 50%($100,000 F.A.)...35%(<$100,000 F.A.)

 

[jn8691mr]

Great ... Thank you

 

[aclaro]

I just think you're screwing the client using an inferior product when traditional whole life policies will out perform Gerber.