Hello Everyone!

[Tahoe Ray]

This is from a recent real life example:

Client had been quoted a ROP TLE from MOO, 39 F Non-tobacco:

30 yrs with the ROP rider, $121.62 is monthly premium for 250,000 in coverage. At the end of 30 years, the client had two options:

1. Receive back $43,783.20 (100% of the paid premiums inc. riders) OR ...
2. Receive a reduced paid up guaranteed until age 100 for 104,691.90 in death benefits.

The alternative I offered was $250K Guaranteed Whole Life with Penn Mutual w/flexible protection rider 39 yr Female $120.13/month ... Cash Value at year 30 $71,147, Cash value at age 74 $127,548 ... and that $250K death benefit starts growing. At age 89, death benefit $332,684, cash vale $269,084.

Which would you choose?

Would love to run into those...

It gets harder if the agent doesn't use an overpriced product though. Illinois Mutual, Assurity, Cincy, etc. would all likely be half that premium.

Your deal is still better though, it would just be a bigger discussion in most cases.

 

[Life Hawk]

Thumbs up to RO Term. It's a great buy. Sold a truck full until 2008 when holding requirements changed because of the government. They screwed that market to high hell for low to low middle income buyers. Funny little bit of history, life companies where still stable, but some educated idiots wanted to play God and many companies pulled or greatly modified the product offering.

Sorry the older I get the less I suffer fools!

Gonna need a third cup today. Just back from SC on a working vacation and it's snowing outside!?!

 

[DayTimer]

It gets harder if the agent doesn't use an overpriced product though. Illinois Mutual, Assurity, Cincy, etc. would all likely be half that premium.

Absolutely true - all good carriers with good ROP products.

More and more agents are writing more and more of the simplified issue ROP Term products. There was an article linked to the forum home page a month or so ago that talked about how the public has really taken to simplified issue life insurance products. The public doesn't realize how much that "convenience" is costing them.

And then there are the commissions: I think I get 130% or 135% on MOO TLE ROP, and the whole premium is commissionable. The commission check on the Penn Mutual policy would be significantly less. And many of these MLM agents who are eyeball deep in lead debt and chargebacks very quickly are at a point where they can no longer do what is best for the client and feel trapped into doing what is best for themselves (and their up line).

I love finding ROP term - like I said above: I wish there were a way to run into it more often without having to travel.

 

[Chuckler]

Absolutely true - all good carriers with good ROP products.

More and more agents are writing more and more of the simplified issue ROP Term products. There was an article linked to the forum home page a month or so ago that talked about how the public has really taken to simplified issue life insurance products. The public doesn't realize how much that "convenience" is costing them.

And then there are the commissions: I think I get 130% or 135% on MOO TLE ROP, and the whole premium is commissionable. The commission check on the Penn Mutual policy would be significantly less. And many of these MLM agents who are eyeball deep in lead debt and chargebacks very quickly are at a point where they can no longer do what is best for the client and feel trapped into doing what is best for themselves (and their up line).

I love finding ROP term - like I said above: I wish there were a way to run into it more often without having to travel.

So this is probably where some younger folks with our technology wizardry (I am by no means implicating myself with this statement) could actually provide value and benefit to the older people on the forum.

 

[WinoBlues]

Thank you, thank you! One final question, you've clearly explained both to me, could you illustrate an example of how high cash value participating whole life out performs ROP term? Follow up, is there any circumstance under which you would recommend ROP term?

Thank you again for answering my questions.

I have a online meeting shortly. After I will post two ROPs I have inforce. I would like to see them taken apart also.
Years ago a couple buddies and I would 'attack' each other and try to replace each other's fictitious cases. A fun way to learn learn both design, offense and defense.

 

[Chuckler]

I have a online meeting shortly. After I will post two ROPs I have inforce. I would like to see them taken apart also.
Years ago a couple buddies and I would 'attack' each other and try to replace each other's fictitious cases. A fun way to learn learn both design, offense and defense.

That sounds exciting.

 

[DayTimer]

So this is probably where some younger folks with our technology wizardry

I have a way to find them, but they are spread far and wide. I need a way to find them within my county

 

[WinoBlues]

I wish there were a way to run into it more often without having to travel.

 

[WinoBlues]

That sounds exciting.

Yeah, when I was younger I was savagely competitive. I would hunt Primerica & FE agents just to sit across the kitchen table. If I could make one start screaming and lose their shit I would leave the home skipping.

Now I am just crotchity.

 

[DayTimer]

View attachment 7005

What black magic arts are these? What mischief!​