Wow, what a narrow-minded-Dave Ramsey type of mentality!
I Need Some Advice Please ?
- Thread starter FloridaLady
- Start date
Wow, what a narrow-minded-Dave Ramsey type of mentality!
- 218
Narrow Minded? Ha ha, that's funny. I've been doing this for a long time, way longer than Dave Ramsey.
Give me an example of a case where a normal family would be better getting whole life insurance?
Give me an example of a case where a normal family would be better getting whole life insurance?
- 26,179
Who are you using? I use mostly Cincinnati Life. I just did my first conversion on one. Use the CV as a dump in to help the short pay premium.
- - - - - - - - - - - - - - - - - -
>> At 75 you don't need life insurance, you need money for final expenses...
And you know that how??? I sell a lot of insurance to people that only had term and will soon have nothing. I do not know how long you have been in business. I remember when then The Coach started his whole attack on whole life. and also the XXX days. I have also sold a crap load of term. Still do. However, you guys that come out with these absolutes like Whole Life is a rip off or Term is crap are one note players.
I will bet that my clients that have term and a whole life policy are better off than yours. Or Convertible term. Term that can be converted to <gasp> Whole life.
What do you propose that your clients do when they term out? I know they will be rich and not need it.
- - - - - - - - - - - - - - - - - -
Pull up any of your clients that were 45+ yrs old twenty years ago. When you sold them a twenty year term.
Last edited:
- 218
"Pull up any of your clients that were 45+ yrs old twenty years ago. When you sold them a twenty year term."
You guys sure get bent out of shape over this. I said Whole Life is a good product, however wnen you work with families you have to look at the premiums. If I could sell $500,000 of whole life for the same price as term I would do it. However that's not the case. Most of the time it is $50,000 of whole life compared to $450,000 + of term. In my opinion it's better to protect the family through the time when they need more protection.
I don't see the value in selling them a $20,000 whole life and a high face amount term policy together financially.
You guys sure get bent out of shape over this. I said Whole Life is a good product, however wnen you work with families you have to look at the premiums. If I could sell $500,000 of whole life for the same price as term I would do it. However that's not the case. Most of the time it is $50,000 of whole life compared to $450,000 + of term. In my opinion it's better to protect the family through the time when they need more protection.
I don't see the value in selling them a $20,000 whole life and a high face amount term policy together financially.
- 26,179
I am, by no means, a Whole Life only guy. I have replaced a lot of it. I point was more to your absolute of Whole Life being a rip off. I sell a lot of term. I also sell GUL and Whole life. Term is the best answer in some cases. Whole Life is in others. GUL may be the answer yet in others.
I am switching to decaf now.
I am switching to decaf now.
- 15,041
No, you said whole life is a ripoff. Now you are backpedaling.
There is a reason that a $500,000 20 year term costs less than a $500,000 whole life. But like Wino said, this isn't a one size fits all situation.
Although I really do feel that most working couples are best served by a large amount of term, and a small whole life policy. And yes, there will always be exceptions.
In the end though, you can only sell what a person is willing to buy.
Banter Banter Banter.
You guys are nit-picking at what eachothers saying. When in essence you are both right you are just stating your facts with biased view points.
At the end of the day its going to be situational; so there is no right or wrong answer. Which i know you guys are aware of and have stated that. Whick makes my point that your arguing about nothing.
I for one am with saleswolf in saying that id rather sell them a 500k term when they need it most (MAJORITY of my clients) if were talking about what is best for the needs of the average client im selling Medd Supps too.
You guys are nit-picking at what eachothers saying. When in essence you are both right you are just stating your facts with biased view points.
At the end of the day its going to be situational; so there is no right or wrong answer. Which i know you guys are aware of and have stated that. Whick makes my point that your arguing about nothing.
I for one am with saleswolf in saying that id rather sell them a 500k term when they need it most (MAJORITY of my clients) if were talking about what is best for the needs of the average client im selling Medd Supps too.
If you're selling term to ages 65 and above, that would be good for the beneficiary if they are going to die within the 10-20 years that the term policy is in force. It would be a very bad thing if they outlive the term. What then? Are you going to convert it to a $25K policy where they are paying more than they can afford on a fixed income?
25% of Americans expect to wait until age 80 to retire - Yahoo! Finance
These are the people who bought term, didn't invest the difference and now have to work to age 80 to retire.
These are the people who bought term, didn't invest the difference and now have to work to age 80 to retire.
Well again this comes down to your client base...If you're selling term to ages 65 and above, that would be good for the beneficiary if they are going to die within the 10-20 years that the term policy is in force. It would be a very bad thing if they outlive the term. What then? Are you going to convert it to a $25K policy where they are paying more than they can afford on a fixed income?
I strictly focus on Med. Supps. so my clients are 65-85
I would never reccommend term if living to 85+ was a possibility and it obviously is. So if the SPECIFIC client im working with has the mean/assets to still be able to keep his S.O.L say he outlives 85. then i persuade him to get term, you see?
Similar threads
