I Need Some Advice Please ?

[nordicnacho]

Choosing between Frank and Primerica is like choosing between a Ferrari and a VW.

Sorry gang. Primerica IS a scam. They push only term insurance. They're trained to replace good WL and ULs with their sh----ty term. They promise the world only to have 98% of their reps completely broke. They even lie about the premium they're agents produce. Stay away!

What's wrong with term?

 

[degsey69]

What's wrong with term?

Nothing if you can afford it at say 75 years and it continually renewing at higher rates in a certain amount of years.

Term has its place, so does whole life and universal life according to the clients needs at the time.

 

[Kenno]

Re: Primerica, go to one of their recruitment meetings and you'll think you're part of a circus sideshow.

Re: ROP on term policies - a great sales tool for those 20- and 30-something clients who think they will live forever and that life insurance is for old people. The ROP gets them buying almost always. A good sales pitch is this - "this policy will pay out one way or another, whether you live or die, a check will be sent to you or your beneficiary."

However, if your client understands the concept of time-value-of-money then ROP is not a good sales tool. It is expensive, but people buy it. FYI, the shorter the term the higher the premium with ROP.

 

[Norwayguy]

I sold a few return of priumum policys. I am not sure but I am begining to like the idea 15-20 years if your still alive you can have all the money you paid back.

What do u think of ROP policy??

I'm liking them more for the people that want the "Cheapest" term. I like that the ROP product I'm selling now has the same nonforfieture options as WL...ie RPU extended term as well as the cashback it also allows the client to do an APL if the value is there....I think it will make the transition to conversions easier.

 

[TheSalesWolf]

Whole life is the one that is a rip off. Life Insurance is designed to protect yourself when someone is dependent on your income. At 75 you don't need life insurance, you need money for final expenses...

Whole life agents sell $50,000 of whole life to families because that family could only afford to spend x per month.

Husband dies and wife gets $50,000... the husband was making more than $50,000 a year.

What exactly did that WHole Life Agent do for that family... not much.

Protect your clients with a big face amount of LIFE Insurance, you can't do that with Whole Life.

Don't try to give me the spill about cash value, savings accounts give you cash value. WHOLE LIFE is not a bad product but the price compared to TERM makes it a bad purchase.

 

[VolAgent]

Whole life is the one that is a rip off. Life Insurance is designed to protect yourself when someone is dependent on your income. At 75 you don't need life insurance, you need money for final expenses...

Whole life agents sell $50,000 of whole life to families because that family could only afford to spend x per month.

Husband dies and wife gets $50,000... the husband was making more than $50,000 a year.

What exactly did that WHole Life Agent do for that family... not much.

Protect your clients with a big face amount of LIFE Insurance, you can't do that with Whole Life.

Don't try to give me the spill about cash value, savings accounts give you cash value. WHOLE LIFE is not a bad product but the price compared to TERM makes it a bad purchase.

So speaketh the person who does not understand insurance.

 

[0b1kanobee]

So speaketh the person who does not understand insurance.

Agreed. I don't understand WL and everything you can do with it but I don't bash it. I know I'm not an expert with it and how to use it.....yet. I have materials on the way though and found a couple of good sites to learn on.

 

[xrac]

................WHOLE LIFE is not a bad product but the price compared to TERM makes it a bad purchase.

This statement is sometimes true but not always true. If you are 65 years old and want insurance to be in place when you die term can be a real dumb purchase. One of the best insurance programs is blended term and WL.

 

[VolAgent]

This statement is sometimes true but not always true. If you are 65 years old and want insurance to be in place when you die term can be a real dumb purchase. One of the best insurance programs is blended term and WL.

Truer words were never spoken. Contrary to popular belief, you can own more than one insurance contract. In fact, one can be term and one can be whole life or any combination of insurance types you wish.

 

[MrProducer]

Whole life is the one that is a rip off. Life Insurance is designed to protect yourself when someone is dependent on your income. At 75 you don't need life insurance, you need money for final expenses...

.

So at age 75, there's no such thing as a person who is dependent on their Spouse's Social Security INCOME?!?? You know, that check that pays utilities, food, and any leftover debt from the previous years.

I think what we can conclude here is that whole life might be better, or it might be worse. When it all comes down to it, the type of insurance which is better suited for an individual must be based on that INDIVIDUAL'S specific information.

I think the point you are trying to make, is that sometimes a Whole Life policy is sold, when a less expensive alternative is available, and makes more sense. And THAT is why the world will always need insurance agents, because the common man normally has no clue what's best.