Not true. Many companies have graded policies, but few have GI policies. True GI policies are "no questions asked".
Help Me with my Mom, Please
- Thread starter insuranceconceptscindy
- Start date
Not true. Many companies have graded policies, but few have GI policies. True GI policies are "no questions asked".
If you can get it issued, Gerber's rate for females is unbeatable, at least here in Georgia. They pay 10% Return for the first two years, which is better than any bank or funeral trust I know of. Kemper is good also, but a little higher premium and they only pay 5% on the first year.
The Gerber plan for females is selling like hotcakes here, even for people with moderate health issues who smoke. The rate is actually better than some "smoker" rates. A 60 year old gets 20K for 114.81. Another well known carrier's rate is $94 standard smoker. In a few cases, they are the same. So, "no questions" GI for 114 isn't bad, even though she doesn't smoke. The only problem is that Gerber has been slowwww in issuing all summer.
Kemper Reserve is only 9 bucks more per month for 20K here in GA. My preference is the latter for the stated reasons. I don't know much about Vantis.
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I correct myself. Kemper pays 10% EACH of the first two years for a total of 120% of premiums paid unless death is by accident, which pays the full face amount.
The Gerber plan for females is selling like hotcakes here, even for people with moderate health issues who smoke. The rate is actually better than some "smoker" rates. A 60 year old gets 20K for 114.81. Another well known carrier's rate is $94 standard smoker. In a few cases, they are the same. So, "no questions" GI for 114 isn't bad, even though she doesn't smoke. The only problem is that Gerber has been slowwww in issuing all summer.
Kemper Reserve is only 9 bucks more per month for 20K here in GA. My preference is the latter for the stated reasons. I don't know much about Vantis.
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I correct myself. Kemper pays 10% EACH of the first two years for a total of 120% of premiums paid unless death is by accident, which pays the full face amount.
- 17,078
If you are just comparing what is paid out in the first two years, the funeral trusts win that part every time. Instead of paying interest on premium they pay a % of face. For instance on this girl she can have 35% of face covered at the 6th month. 70% of face covered at the 12th month and 100% at the 24th month. It's true GI and non-contestible.
Premiums are much higher than FE but on young people it's often a good choice because of the better coverage during the beginning years and the policy is fully paid up in 10-years if they live a long life plus the policy grows throughout their lifetime. That $10,000 policy will eventually pay more than $20,000 if they live for a long time.
But like always...the bad news for most agents is these policies require the agent to be contracted with a funeral home to sell it.
- 30,590
You almost got it right the 2nd time.
Straight from Kemper's brochure: "For non-accidental death anytime during the first two policy years, you receive 120 PERCENT of premiums paid.
