Guaranteed Level Premium Permanent Terms to Age 100

[MIM]

You guys left out American National (ANICO).

 

[jacobtn]

The problem with Foresters is they only have a 10 yr no lapse guarantee. Wish it went to age 100.

 

[slushpuppyking]

My dad has $440,000 in life insurance coverage through his company through Aetna and it runs hims $196 per month. My mom called me today asking me questions about his policy but without any info in front of me I couldn't answer her questions.

Her main concern is keeping the insurance after he retires in 2 years. Her 2nd biggest concern is to what age will it be good for.

I really don't mess with term in any way at all so maybe you guys can make some suggestions for them.

 

[Newby]

My dad has $440,000 in life insurance coverage through his company through Aetna and it runs hims $196 per month. My mom called me today asking me questions about his policy but without any info in front of me I couldn't answer her questions.

Her main concern is keeping the insurance after he retires in 2 years. Her 2nd biggest concern is to what age will it be good for.

I really don't mess with term in any way at all so maybe you guys can make some suggestions for them.

The first question is: How long do you need the life insurance? Sure it would be nice to have $440,000 until death but hardly anyone can afford that.

Figure out how much they REALLY need to be until death and convert that amount to WL or GUL. Then if they need more temporarily, usually to pay off temporary debts such as mortgages or replace income if he dies before retirement, keep the term for that purpose.

People forget why the chose term over WL. It's for temporary stuff. WL or GUL is for the actual death benefit that you want to keep.

 

[smokin goose]

My dad has $440,000 in life insurance coverage through his company through Aetna and it runs hims $196 per month. My mom called me today asking me questions about his policy but without any info in front of me I couldn't answer her questions.

Her main concern is keeping the insurance after he retires in 2 years. Her 2nd biggest concern is to what age will it be good for.

I really don't mess with term in any way at all so maybe you guys can make some suggestions for them.

You can run GUL quotes on Shaw American's website. Just so you know.

 

[LGilmore]

Ask your mom where the policy is. That information should be in there. If they don't have the policy or have lost it, call the company and they can tell them in a few seconds.

 

[JNA Insurance]

Does anyone know of any legitimate companies that offer a Guaranteed Level Premium Permanent Terms to age 100?

Jackson National offers one I believe.

 

[WinoBlues]

Jackson National offers one I believe.

JNL no longer writes life insurance.

----------

My dad has $440,000 in life insurance coverage through his company through Aetna and it runs hims $196 per month. My mom called me today asking me questions about his policy but without any info in front of me I couldn't answer her questions.

Her main concern is keeping the insurance after he retires in 2 years. Her 2nd biggest concern is to what age will it be good for.

I really don't mess with term in any way at all so maybe you guys can make some suggestions for them.

First you need to find out if it is personal or group. Huge difference in guarantees. He could easily need that much or more if they are looking at more of a pension max strategy.

 

[VolAgent]

My dad has $440,000 in life insurance coverage through his company through Aetna and it runs hims $196 per month. My mom called me today asking me questions about his policy but without any info in front of me I couldn't answer her questions.

Her main concern is keeping the insurance after he retires in 2 years. Her 2nd biggest concern is to what age will it be good for.

I really don't mess with term in any way at all so maybe you guys can make some suggestions for them.

Pretty sure this is going to be a group policy. I don't believe Aetna offers individual life policies at this time except through American Continental.

Get a hold of the EOB, he should get one each year, and see what it says. Do realize that if it is a group policy, it could go away at any time. Lots and lots of retirees thought they were going to have life insurance from their company for life. And quite of few of them have been sadly disappointed.

The only reason to take care of retirees is to keep and attract current employees. Once that stops working or if cuts need to be made to save the company, retirees are an easy target. Even when there are contracts in place guaranteeing retirees certain benefits, a bankruptcy judge can overturn them.

 

[WinoBlues]

Pretty sure this is going to be a group policy. I don't believe Aetna offers individual life policies at this time except through American Continental.

Get a hold of the EOB, he should get one each year, and see what it says. Do realize that if it is a group policy, it could go away at any time. Lots and lots of retirees thought they were going to have life insurance from their company for life. And quite of few of them have been sadly disappointed.

The only reason to take care of retirees is to keep and attract current employees. Once that stops working or if cuts need to be made to save the company, retirees are an easy target. Even when there are contracts in place guaranteeing retirees certain benefits, a bankruptcy judge can overturn them.

No truer words.

Sometimes what they see as continuation is really a conversion option. Many times that option is horrible. Super expensive crappy policy reserved for that option.