Help with FE Client

[jmarkk1]

I have a client that is turning 65 in January. 2 years ago stopped smoking after diagnosed with COPD.

She's wanting $15k in FE coverage. She's already applied with Monumental Life coverage at around $75/monthish, but then she got something in mail from AARP indicating same coverage for $40/month.

Usually when I see that big of a difference in price I know something is too good to be true.

Anyways, she is resident of Ohio,

What other carriers should I be looking in to? Rates?

 

[WinoBlues]

Go to the AARP site and run the quote. Then tell her she needs to die by age 80. To make that term policy a good deal.

I have a client that is turning 65 in January. 2 years ago stopped smoking after diagnosed with COPD.

She's wanting $15k in FE coverage. She's already applied with Monumental Life coverage at around $75/monthish, but then she got something in mail from AARP indicating same coverage for $40/month.

Usually when I see that big of a difference in price I know something is too good to be true.

Anyways, she is resident of Ohio,

What other carriers should I be looking in to? Rates?

 

[Newby]

I have a client that is turning 65 in January. 2 years ago stopped smoking after diagnosed with COPD.

She's wanting $15k in FE coverage. She's already applied with Monumental Life coverage at around $75/monthish, but then she got something in mail from AARP indicating same coverage for $40/month.

Usually when I see that big of a difference in price I know something is too good to be true.

Anyways, she is resident of Ohio,

What other carriers should I be looking in to? Rates?

AARP is NOT the same coverage as Monumental. Buy the time you read the fine print to her and add up the premiums that she will pay to age 80 and how it pays ZERO if she lives one day past, she will not only be ready to hear an honest offer but will BURN up her AARP membership card.

 

[jdeasy]

I have a client that is turning 65 in January. 2 years ago stopped smoking after diagnosed with COPD.

She's wanting $15k in FE coverage. She's already applied with Monumental Life coverage at around $75/monthish, but then she got something in mail from AARP indicating same coverage for $40/month.

Usually when I see that big of a difference in price I know something is too good to be true.

Anyways, she is resident of Ohio,

What other carriers should I be looking in to? Rates?

Term vs whole life. Plus with Mon the coverage is immediate. With AARP it will be a two year ROP because of the COPD.

Besides ending at age 80 that $39.06/mo premium becomes $57.74 when she turns 70. It will almost double at age 75. No cash value.

You are not even comparing the same type coverages at all. Now, as for the COPD, Monumental will give immediate coverage as long as not on oxygen, but many companies will also if they have not had treatment for COPD in the last two years. Lots of good options out there for this lady. AARP branded NYL not being one of them.

 

[WinoBlues]

I have a quote from AARP that I keep in my FE kit. It has my name and address on it. Easy to point out the fine print.

Or just go here:

AARP Level Benefit Term Life Insurance from New York Life

 

[jmarkk1]

Term vs whole life. Plus with Mon the coverage is immediate. With AARP it will be a two year ROP because of the COPD.

Besides ending at age 80 that $39.06/mo premium becomes $57.74 when she turns 70. It will almost double at age 75. No cash value.

You are not even comparing the same type coverages at all. Now, as for the COPD, Monumental will give immediate coverage as long as not on oxygen, but many companies will also if they have not had treatment for COPD in the last two years. Lots of good options out there for this lady. AARP branded NYL not being one of them.

Other than Monumental, what other companies are competitive in Ohio with this type of client? I believe she is on oxygen and is asthmatic too.

 

[jdeasy]

Other than Monumental, what other companies are competitive in Ohio with this type of client? I believe she is on oxygen and is asthmatic too.

It's not immediate coverage with Mon if on oxygen. This sounds like a time to give the number to MoO's GI. Best price out there for a GI whole life. It's ROP plus 10% for the first two years.

You could hook her up with UHL or Presidential or Americo, but it will be double or triple the price of MoO.

 

[tins]

Other than Monumental, what other companies are competitive in Ohio with this type of client? I believe she is on oxygen and is asthmatic too.

Oxygen is a decline for just about every company.

 

[jmarkk1]

It's not immediate coverage with Mon if on oxygen. This sounds like a time to give the number to MoO's GI. Best price out there for a GI whole life. It's ROP plus 10% for the first two years.

You could hook her up with UHL or Presidential or Americo, but it will be double or triple the price of MoO.

Forgive me but who is MoO? Mutual of Omaha?

Just trying to get my lingo down...
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It's not immediate coverage with Mon if on oxygen. This sounds like a time to give the number to MoO's GI. Best price out there for a GI whole life. It's ROP plus 10% for the first two years.

You could hook her up with UHL or Presidential or Americo, but it will be double or triple the price of MoO.

How does the Monumental plan stack up against the Mutual of Omaha plan in terms of graded benefits? It looks like Mutual of Omaha is about $10/month cheaper than Monumental.

 

[Biggin]

Forgive me but who is MoO? Mutual of Omaha?

Just trying to get my lingo down...
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How does the Monumental plan stack up against the Mutual of Omaha plan in terms of graded benefits? It looks like Mutual of Omaha is about $10/month cheaper than Monumental.

Yep. Once they are on O2 the game is over. Just move on to another case. Mutual of Omaha will be the best for the client. Refer them and move on. BTW...you mentioned "graded" benefits. Graded is out the window because of the O2. Modified is what they will get with MOO or anyone else. MOO will have the best rates by far, though.