I Would Like Your Input - UL from Protective Life

[WinoBlues]

I am on board with all of you. The client told me they have not authorized the larger quote that came in after they were changed from preferred to standard. I am doing what you say, but problem is they have worked with this Edward Jones guy for over 10 years and they have a close relationship with him. But bottom line is that he apparently never explained this policy to them (i.e. that it is more of a term, not WL) and they are pissed off about that. They also have their heart set on not paying more than $100 a month. So this is a work in progress, I will update you. Thanks to everyone for your input.

I understand Bill, Joe Edwards is probably a good guy and my really know hos stuff when it comes to investments. I do not advise people in that. I am a Life Insurance agent. That is my specialty. He showed you what he can do. Let see what I can come up with. Then you decide.

 

[Newby]

Is that legal for a investment advisor from Edward Jones is selling life insurance without an insurance license? Is there a loophole somewhere that allows this?

Why would he not have a life license.

 

[Nikita]

I understand Bill, Joe Edwards is probably a good guy and my really know hos stuff when it comes to investments. I do not advise people in that. I am a Life Insurance agent. That is my specialty. He showed you what he can do. Let see what I can come up with. Then you decide.

Wino - yes they have asked me to come up with another quote for them. Problem is this Edward Jones convinced them they could get what they want for $100/month and now I am trying to re-educate them that that is not possible (i.e. to get permanent $500K for $100/mo)

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Why would he not have a life license.

My client doesn't think he has a license but I told her to how to check at the Dept of Insurance, so we will see....

 

[WinoBlues]

Wino - yes they have asked me to come up with another quote for them. Problem is this Edward Jones convinced them they could get what they want for $100/month and now I am trying to re-educate them that that is not possible (i.e. to get permanent $500K for $100/mo)

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My client doesn't think he has a license but I told her to how to check at the Dept of Insurance, so we will see....

First, back off the whole licensed thing. It could back fire. What is your fallback when he shows them that he not only licensed to do simple $500,000.00 term plans but also much more complicated plans. Then he compares his contracted companies to your list of companies. I do not know what you write but if it is only medsup or FE. His list of companies I us going to smoke you.

As someone else said, show them what his solution was then show him what you have to offer. That and you need to get a a real sense of want and budget. 20 term may have been the right solution based on want and budget.

What is his build and HBP Hx

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Wino - yes they have asked me to come up with another quote for the.................

A big advantage you have over the other guy is he quoted a different guy than the guy that got issued. He could have tried to move him to a more chubby friendly company but the client may have balked and it is only a $100.premium.

You get to quote the real guy.

I believe Protective sends the client their labs get those. If your up line is not a traditional life guy get one or partner with one.not a big case so it will jot hurt you to split it and learn.

 

[Nikita]

First, back off the whole licensed thing. It could back fire. What is your fallback when he shows them that he not only licensed to do simple $500,000.00 term plans but also much more complicated plans. Then he compares his contracted companies to your list of companies. I do not know what you write but if it is only medsup or FE. His list of companies I us going to smoke you.

As someone else said, show them what his solution was then show him what you have to offer. That and you need to get a a real sense of want and budget. 20 term may have been the right solution based on want and budget.

What is his build and HBP Hx



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A big advantage you have over the other guy is he quoted a different guy than the guy that got issued. He could have tried to move him to a more chubby friendly company but the client may have balked and it is only a $100.premium.

You get to quote the real guy.

I believe Protective sends the client their labs get those. If your up line is not a traditional life guy get one or partner with one.not a big case so it will jot hurt you to split it and learn.

Ok - the license issue came up when my client told me she and her husband had no idea what they were buying, and that their Edward Jones agent had never sat down and explained anything to them or showed them any kind of illustration. I told her she absolutely should not buy anything unless it had been fully explained to her. I am not pushing her to pursue the license issue, and I told her he very well may have a license. I also reminded her that he was primarily an investment advisor, and that insurance was secondary to him.

Yes I am looking into partnering with someone on this case. Don't mind splitting commissions on this one but I honestly don't think they have the money for a large WL policy so maybe they'll just end up with the Protective Life UL they were offered. I'll talk more with her tomorrow after she and her husband discuss some of the things I told her to think about. Thanks for your input.

 

[WinoBlues]

Ok - the license issue came up when my client told me she and her husband had no idea what they were buying, and that their Edward Jones agent had never sat down and explained anything to them or showed them any kind of illustration. I told her she absolutely should not buy anything unless it had been fully explained to her. I am not pushing her to pursue the license issue, and I told her he very well may have a license. I also reminded her that he was primarily an investment advisor, and that insurance was secondary to him.

Yes I am looking into partnering with someone on this case. Don't mind splitting commissions on this one but I honestly don't think they have the money for a large WL policy so maybe they'll just end up with the Protective Life UL they were offered. I'll talk more with her tomorrow after she and her husband discuss some of the things I told her to think about. Thanks for your input.

He has a TERMul. There are other companies more forgiving on build. Also if you are FE you have probably heard some wrong info on GUL. Maybe look at a combo plan.

 

[Nikita]

He has a TERMul. There are other companies more forgiving on build. Also if you are FE you have probably heard some wrong info on GUL. Maybe look at a combo plan.

Can you give me specific suggestions as to which companies would offer him a better quote for being about 30 pounds overweight, for a 10 year term? Also, can you give more details on the combo plan? How does it work and which carriers do you reco?

 

[WinoBlues]

Can you give me specific suggestions as to which companies would offer him a better quote for being about 30 pounds overweight, for a 10 year term? Also, can you give more details on the combo plan? How does it work and which carriers do you reco?

So he is 4' 5"? Overweight? By whose chart? Again ht wt and HBP hx.(grouchy old guy)

 

[Nikita]

So he is 4' 5"? Overweight? By whose chart? Again ht wt and HBP hx.(grouchy old guy)

He is 52, 6 ft tall, weights 239. Protective Life feels this is overweight and that his normal weight should be 207, so they rated him "standard" - also his bp was 140/63 which they also felt was "high." That really is borderline, I guess they are very picky....

 

[WinoBlues]

He is 52, 6 ft tall, weights 239. Protective Life feels this is overweight and that his normal weight should be 207, so they rated him "standard" - also his bp was 140/63 which they also felt was "high." That really is borderline, I guess they are very picky....

They are not picky. I have wr I then people with controlled diabetes and gotten standard. His is $500,000.00 not $5,000. Compare the cost per thousand to something like a FE plan.

Is your up line life insurance?

This not a complicated case. Walk in the park case.

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You said they were clients. What kind of clients? Med sup, health?