Info Needed on Protective Life

[Deepsea]

I am a career agent for a big mutual. Have only been in the business for a couple of years. My company is a great company for Perm products, however a health rating on a client was not optimal, and I was thinking of presenting a 20 year Protective Life Product, which is basically a type of UL that acts like term for the initial period and then same premium for lower and lower DB.

Since client is a 64 year old woman, then at the end of 20 years the $1700 premium isn't going too far.

Any disadvantages to 20 year protective product vs my regular 20 year term from my career agency.

Due to age of insured conversion isn't a option down the road.

Opinions on doing business with Protective from the agents prospective and the clients.

Thanks

 

[WinoBlues]

I am a career agent for a big mutual. Have only been in the business for a couple of years. My company is a great company for Perm products, however a health rating on a client was not optimal, and I was thinking of presenting a 20 year Protective Life Product, which is basically a type of UL that acts like term for the initial period and then same premium for lower and lower DB.

Since client is a 64 year old woman, then at the end of 20 years the $1700 premium isn't going too far.

Any disadvantages to 20 year protective product vs my regular 20 year term from my career agency.

Due to age of insured conversion isn't a option down the road.

Opinions on doing business with Protective from the agents prospective and the clients.

Thanks

Con - is that at the end of the term the death benefit becomes a decreasing benefit.

Pro - is that at the end of the term the death benefit becomes a decreasing benefit and premium stays the same. Decreases to $10,000 to I think age 80 then remains $10,000

You can also build a GUL that is level for say 20 years the goes up every 10 years.

Protective underwrites out of two manuals so they can be very creative.

I like their ULTerm a lot.