Liberty National Now Has a Broker Side?

[Thatguy]

you two are arguing the same point and calling it something different. Portability refers to the ability for the client to take the policy after they leave the group. It can refer to conversion or to keep the policy static, it's still portable. When someone takes a policy with them after leaving, it's portable. Whether that be in conversion or otherwise. And your CLU class was correct, all group term is portable. Call it conversion if you like, it's still portable.

That's kind of like arguing that it's not a grapefruit, it's an orange. Yes, that is correct; however, they are both still citrus.

Point is, I think there might just be some verbiage confusion, not concept confusion.

 

[TristanTLC]

No, that is why it is called conversion.

You are converting a group term life certificate to a whole life, or in some cases, a UL individual policy.

Portability is allowing you to continue the same coverage at the same terms and rates as the "group" plan.

My mistake, we are talking about the same thing I just did not use the right word. I stand corrected. Thank you

 

[somarco]

Not trying to beat a dead horse, but you need to be careful with the terms used, especially with clients. While it is true that conversion does imply the coverage is portable, it is only portable if you can afford the considerably higher premium for the converted life policy.

Conversion life policies are limited by the carrier to their highest premium plan. You don't get a choice.

Carriers know that those who convert have health issues so there is no reason to offer them a smorgasbord of products. The only ones who convert are those who know they need the coverage and can't get it anywhere else.

So it is portable. IF you can afford the conversion premium.

 

[insuragent]

I don't even know where to start with this one.

everybody's group term is capable of doing payroll deduction and is portable. It's not like they have a choice in the matter when it comes to portability.

Their term is horrible, have you ran a quote? Their term side is the worst I've seen on rates! I ran them against my WCL, Assurity, JH, LSW, Fidelity, and AGLA and they were the most expensive term of all of them.

You think their Whole Life is expensive? Are you kidding me? Their whole life is extremely competitive. This is the only thing they have that's worth anything. I'm not advocating libnat by any means, but if you're comparing products - this is the only area where they do shine. I worked with an agent who went captive at libnat and we ran some quotes from his whole life vs my Settlers and Libnat was cheaper.

An agent friend is going to start selling LNL worksite and he says the term for worksite is really competitive and pretty good compared to what he generally sees.
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I don't even know where to start with this one.

everybody's group term is capable of doing payroll deduction and is portable. It's not like they have a choice in the matter when it comes to portability.

Their term is horrible, have you ran a quote? Their term side is the worst I've seen on rates! I ran them against my WCL, Assurity, JH, LSW, Fidelity, and AGLA and they were the most expensive term of all of them.

You think their Whole Life is expensive? Are you kidding me? Their whole life is extremely competitive. This is the only thing they have that's worth anything. I'm not advocating libnat by any means, but if you're comparing products - this is the only area where they do shine. I worked with an agent who went captive at libnat and we ran some quotes from his whole life vs my Settlers and Libnat was cheaper.

An agent friend is going to start selling LNL worksite and he says the term for worksite is really competitive and pretty good compared to what he generally sees.

 

[Thatguy]

An agent friend is going to start selling LNL worksite and he says the term for worksite is really competitive and pretty good compared to what he generally sees.
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Then he's probably been seeing non-med term or even mortgage protection term. One of my buddy works for LNL and he sends me all his term cases because their term product is just not very good. He goes and writes worksite whole life, and then passes off the key-man term to me. In exchange I pass off all my FE leads and small whole life cases to him. works out well for us. LNL term sucks, run the quote yourself and see.

 

[jolei]

They do offer a medicare supplement through their sister company United American. At least they did in the years you said you worked there 2000-2004. However, no training, if you wanted to sell it you had to learn it yourself. Even sales managers had no clue how Medicare works, the apps and brochures were in the back of the cabinet with the rest of the products though if you wanted to sell it.

 

[insuragent]

Thanks, with all the info I've reported back to my friend. Bottom line it's really up to him. RipOff report alone turned me off but the Work site seems to be different then the personal market (?) if that is what they call it.