Living Benefits verse No LB.

[Cornelius]

Do any agents still offer policies without Living Benefits?

 

[DHK]

Every Primerica agent...

 

[rousemark]

Do any agents still offer policies without Living Benefits?

Sell some with and some without. The LB is never the determining factor for me. In fact, there is a downside to the LBs that no one ever talks about. Yes, they can be great if a person ahs a desperate situation and the exercising the LB helps them survive financially. But give this some thought. You sold the life insurance to solve a problem for them. If they have a critical or chronic illness has that problem gone away? If the answer is no and they accelerate their benefit then when they pass away, the financial problem for the family still exists.

 

[toolbelt]

Sell some with and some without. The LB is never the determining factor for me. In fact, there is a downside to the LBs that no one ever talks about. Yes, they can be great if a person ahs a desperate situation and the exercising the LB helps them survive financially. But give this some thought. You sold the life insurance to solve a problem for them. If they have a critical or chronic illness has that problem gone away? If the answer is no and they accelerate their benefit then when they pass away, the financial problem for the family still exists.

And if they miraculously pull through, the LB's are treated as an interest bearing loan.

 

[LostDollar]

Sell some with and some without. The LB is never the determining factor for me. In fact, there is a downside to the LBs that no one ever talks about. Yes, they can be great if a person ahs a desperate situation and the exercising the LB helps them survive financially. But give this some thought. You sold the life insurance to solve a problem for them. If they have a critical or chronic illness has that problem gone away? If the answer is no and they accelerate their benefit then when they pass away, the financial problem for the family still exists.

(caveat, not an agent)

When I was pondering this issue, the policies I was presented with would not allow withdrawal of 100% of the death benefit for Living Benefits. There was a residual amount left in the policy that would not be paid out until the policyholder's death.

 

[scagnt83]

(caveat, not an agent)

When I was pondering this issue, the policies I was presented with would not allow withdrawal of 100% of the death benefit for Living Benefits. There was a residual amount left in the policy that would not be paid out until the policyholder's death.

That is true for all policies. Its a regulatory issue.

 

[scagnt83]

And if they miraculously pull through, the LB's are treated as an interest bearing loan.

Not correct for all of them. Some do. Some dont.

 

[LostDollar]

And if they miraculously pull through, the LB's are treated as an interest bearing loan.

(Caveat, not an agent)

Is there fine print in the policies somewhere that expresses that action and explains the details?

 

[scagnt83]

Do any agents still offer policies without Living Benefits?

Terminal Illness is pretty standard among probably 95% of the life industry.

Chronic is available on Id say at least 50%-60% of life policies on the market now.

Most of the time if chronic isnt on a policy I sell its because they were rated. But its not something I make a deciding factor in selling policies unless the client specifically needs/wants a strong chronic rider.

 

[LostDollar]

Not correct for all of them. Some do. Some dont.

Thanks for posting that. I stopped panicking.