Life Insurance for College

[kevinrwww]

I am new to the industry and this is my first post, I am 36 years old and I have three small children. Many of my peers could use a product like this, it seems like a good way to get some business. I would like to get some feedback on this topic, I have read many mixed reviews about this subject online. For those that do like this idea, which type of insurance to use; whole life or universal etc..

 

[XLNT]

You have to look at what your prospects/clients want to do, what position they are in financially, and what they need to do. Treat everything on a case by case basis. There is no one size fits all solution for everyone.

 

[Stephen]

I am new to the industry and this is my first post, I am 36 years old and I have three small children. Many of my peers could use a product like this, it seems like a good way to get some business. I would like to get some feedback on this topic, I have read many mixed reviews about this subject online. For those that do like this idea, which type of insurance to use; whole life or universal etc..

Do you have enough term life insurance for income replacement?

 

[achuwsb]

I like IULs for cash accumulation they accumulate much quicker then traditional WL depending on the product the distributions as a loan is much less expensive then WL. if the purpose is to USE the CSV for funding then IUL is better but the client must be able to fund the policy properly.

 

[BNTRS]

It can be done, but it has to be done correctly. You're not just selling them a life insurance policy and hoping cash will accumulate. There is a very specific way to design cash value life insurance for this purpose.

 

[rocky top buzz]

Free tip - If you are wanting to sell this concept, go after the grandparents, not the parents. Not only do the grandparents have more disposable income in most cases, but it's a way they can leave a legacy to future generations without giving cash that will be squandered away (granted I use this approach in selling 10-pay GUL with no cash value; a whole life or UL will likely be cashed out as soon as the child can get their hands on it!).

 

[ccurryUW]

I am new to the industry and this is my first post, I am 36 years old and I have three small children. Many of my peers could use a product like this, it seems like a good way to get some business. I would like to get some feedback on this topic, I have read many mixed reviews about this subject online. For those that do like this idea, which type of insurance to use; whole life or universal etc..

For ages 6 and younger North American Builder IUL 7. WL doesn't even come close to it in CV accumulation.

 

[MichaelQ]

There are many options in life insurance and not 1 is a fit all. what are the needs of your client? how much can they afford? what if the intention of the life insurance.. protect lost income for the family and kids? many questions, but there are many options also.

 

[BNTRS]

For ages 6 and younger North American Builder IUL 7. WL doesn't even come close to it in CV accumulation.

North American is certainly a superstar carrier when it comes to universal life insurance. But unless you are planning to place just a couple hundred bucks per year into the policy, you might have a problem with them (you're buying up too much death benefit with larger outlays). After a couple thousand dollars in annual premium, it's not going to work out very well with them.

If place the policy on a juvenile I mean. Adult insured no problem.

 

[th61327]

I am new to the life insurance business and having trouble generating clients can anyone help with ideas on getting income coming in, my company only does term insurance I'm starting to get worried that I can't do this job