I Just Started My Own Independent Agency!!

Jul 11, 2018

  1. zwcoop
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    zwcoop Expert

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    I feel like my head is spinning from the process but I am super excited to be in a better position to help my clients. I had a quote worked up for one of my clients and thought a good first post would be a case study. I'd love to hear anyone's feedback!

    My client is 73 years old and have a 49 year old wife and 18 year old daughter. He currently has 2 term policies totaling ~ 600k. One is annually renewable and is at ~500/m and rising quickly. The other is a level term that he's paying ~250/m for that will end in 2023. He had prostate cancer about 6 years ago but has been all clear since. Recently he was in the hospital for a few days for what he believes will be diagnosed as diverticulitis.

    I wish I could've met him earlier in his life to introduce the idea of permanent insurance but what's done is done at this point. So, he's paying ~9k a year for term that will not likely pay off to his family. The best thing I thought was to show him a GUL.

    Of the carriers I am currently appointed with, I got the following quotes worked up asking how much death benefit could he get for 9k a year in premium that was guaranteed until 100.

    Mass UL Guard .................................................. $206,315
    Penn Guaranteed Protection UL ........................... $205,152
    Lincoln LifeGuarantee UL ................................... $214,741
    Symetra UL-G .................................................... $216,064

    I would be curious to hear anyone's thoughts on Symetra in general. I am not familiar with them. The appear to be owned by a big Japanese life company?
     
    zwcoop, Jul 11, 2018
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  2. Lewis_FL
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    Lewis_FL Super Genius

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    Yes they are now owned by Sumitomo Life. Used to be SafeCo Life (owned by Warren Buffet). A rated (80 Comdex). You're assuming he's Std; while possible would need to know more to determine. We got Pref+ from them on a 76 y/o guy recently. Some health issues. We were surprised but obviously accepted the offer.
     
    Lewis_FL, Jul 12, 2018
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  3. zwcoop
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    zwcoop Expert

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    Is there a place I can pull up ratings, Comdex, etc on different companies. The guy I work with at Mass sent me a comparison of the 4 companies but I'm not sure where he pulled it from.
     
    zwcoop, Jul 12, 2018
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  4. Lewis_FL
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    Lewis_FL Super Genius

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    Transamerica has Vital Signs on their website. not sure who else does.
     

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    Lewis_FL, Jul 12, 2018
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  5. zwcoop
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    zwcoop Expert

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    Thanks ... I know I have access to Transamerica through one of my FMOs so I'll reach out to them
     
    zwcoop, Jul 12, 2018
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