Globe Life Insurance

Discussion in 'Life Insurance Forum' started by Merlin, Apr 13, 2009.

  1. WinoBlues
    Offline

    WinoBlues Well-Known Member

    Posts:
    17,362
    Likes Received:
    8
    State:
     
    - - - - - - - - - - - - - - - - - -

    Sounds like GUL. It would be interesting to know what would happen if she missed a payment.
     
    Last edited: Jan 5, 2012
  2. jdeasy
    Offline

    jdeasy Well-Known Member

    Posts:
    16,440
    Likes Received:
    9
    State:
    Kentucky

    It's not even GUL, it's plain ole UL with non guaranteed premiums. And, it's ROP for the first two years.
     
    Last edited: Jan 5, 2012
  3. WinoBlues
    Offline

    WinoBlues Well-Known Member

    Posts:
    17,362
    Likes Received:
    8
    State:
     
    Wow. Let me use my teens words. "That sucks!"
     
  4. NCAgent
    Offline

    NCAgent Well-Known Member

    Posts:
    1,051
    Likes Received:
    0
    State:
    North Carolina
    So basically they sold her a "like-term to 100" NLGUL, correct? Or am I missing a totally separate but similar product? I have never really heard the term "hybrid" with life insurance. They want a perm death benefit only I do the NLGUL, if they want cash values I do WL, to give a very simple breakdown.
     
  5. Newby
    Offline

    Newby Well-Known Member

    Posts:
    13,407
    Likes Received:
    35
    State:
    Indiana
    No. Read JD's post again.

    They did not sell her a no lapse UL.

    They sold her a REAL UL. There are NO lifetime guarantees.

    Just get them on the phone with her and request a written guarantee that her policy will last to age 100 at the exact premium she is paying now. They will promise that it will but they will not put it in writing.

    I always reply with, So your policy does have verbal guarantees but not written guarantees?

    They squirm like hell and I do the right thing for the newly enlightened client.
     
  6. rousemark
    Offline

    rousemark Well-Known Member

    Posts:
    13,036
    Likes Received:
    26
    State:
    Tennessee
    Sounds more like they gave her a middle finger "high bird"
     
  7. NCAgent
    Offline

    NCAgent Well-Known Member

    Posts:
    1,051
    Likes Received:
    0
    State:
    North Carolina
    That's what I get for leaving a tab open for a long time :goofy: I didn't see any of this when I was reading
     
  8. Biggin
    Offline

    Biggin Well-Known Member

    Posts:
    843
    Likes Received:
    0
    State:
    Michigan

    Whole life rates never go up.

    oops.....this has already been addressed.
     
    Last edited: Jan 6, 2012
  9. JGold814
    Offline

    JGold814 Well-Known Member

    Posts:
    348
    Likes Received:
    0
    State:
    Virginia
    sounds like a FE style UL policy in a way. Did it have any benefits aside from the death benefit?
     
  10. jdeasy
    Offline

    jdeasy Well-Known Member

    Posts:
    16,440
    Likes Received:
    9
    State:
    Kentucky

    What exactly is an FE style UL policy?
     
Loading...

Share This Page