How To Stop Selling So Much Guaranteed Issue

[goillini52]

One big issue that remains is the fact that often the Graded stuff cost much more. Any thoughts on that?

I edited the post...

I also do not like carrying to many companies... never a one basket guy... but also do not want to be a company junkie... a few good go to's and some GI... otherwise you get to strung out and make mistakes and begin to miss things...

I do agree that COPD and smoking gets me all the time... what suggestions do others have?

Sentinel Security will take COPD with Oxygen at a true Graded(30/70/100) smoker rate for a 60 year old male for $10K is $84.12 a month. Non smoker is $65.12. That gives them $3K day one coverage and $7K in year 2.

The lowest priced GI for this example is AIG, $10K will run $63.17 a month and the most they could get in year one would be $833.84. The most they could get in year 2 would be $1,667.69.

Would it be worth the extra $251.40 a year for the additional $2,166.16 in coverage the 1st year and an additional $5,332.31 in coverage in year 2? I think so, as long as they can afford the extra $20 a month.

For a non smoker the Graded plan would be $1.95 more per month than the GI.

 

[FinalExpenseDojo.com]

One big issue that remains is the fact that often the Graded stuff cost much more. Any thoughts on that?

I edited the post...

I also do not like carrying to many companies... never a one basket guy... but also do not want to be a company junkie... a few good go to's and some GI... otherwise you get to strung out and make mistakes and begin to miss things...

I do agree that COPD and smoking gets me all the time... what suggestions do others have?

I agree, many Graded plans are over priced. Carriers like American Amicable have some of the most competitive Graded & Modified plans. One thing I like about AmAm is they pay full comp on all plans as well.

 

[NSRH]

I agree, many Graded plans are over priced. Carriers like American Amicable have some of the most competitive Graded & Modified plans. One thing I like about AmAm is they pay full comp on all plans as well.

In order for the sale to take place, the client, the agent, and the company have to all be winners. If I can write a policy and get full comp, but have the client pay a little more, its necessary. We all win in that situation.

 

[rousemark]

Sentinel Security will take COPD with Oxygen at a true Graded(30/70/100) smoker rate for a 60 year old male for $10K is $84.12 a month. Non smoker is $65.12. That gives them $3K day one coverage and $7K in year 2.

The lowest priced GI for this example is AIG, $10K will run $63.17 a month and the most they could get in year one would be $833.84. The most they could get in year 2 would be $1,667.69.

Would it be worth the extra $251.40 a year for the additional $2,166.16 in coverage the 1st year and an additional $5,332.31 in coverage in year 2? I think so, as long as they can afford the extra $20 a month.

For a non smoker the Graded plan would be $1.95 more per month than the GI.

United graded is 4 1/2% ROP first year, 50% DB second year, then 100%.. $10K Male age 60 is $66.44 uni smoker.

 

[goillini52]

United graded is 4 1/2% ROP first year, 50% DB second year, then 100%.. $10K Male age 60 is $66.44 uni smoker.

I've seen their logo on FexQuotes recently. Haven't heard much about them. Do you handle them?

 

[rousemark]

I've seen their logo on FexQuotes recently. Haven't heard much about them. Do you handle them?

Just sent in my contract through Bill Douglass.... Have a friedn that uses them as his goto company for his WL and he also writes the Graded product. He likes them.

 

[goillini52]

Just sent in my contract through Bill Douglass.... Have a friedn that uses them as his goto company for his WL and he also writes the Graded product. He likes them.

That's a weak Graded, but at least they have a Graded.

 

[Baseball7]

United graded is 4 1/2% ROP

4.5% ?

 

[goillini52]

4.5% ?

It's a Modified Graded. The 1st year, if not an accidental death it returns the premium paid +4.5% interest and in year 2 it pays 50% of FA.

 

[rousemark]

It's a Modified Graded. The 1st year, if not an accidental death it returns the premium paid +4.5% interest and in year 2 it pays 50% of FA.

Compared to the two year ROPs, it ain't bad... For the most part not a great comission rate, one year charge back for lapse and no advance so many agents would not consider it.