I am looking to add a good all around GUL company to my portfolio. I mainly focus on final expense. However the need does arrive more and more often for someone looking for a big policy. So, I am looking for a good overall GUL company that has reasonable underwriting, decent commission, paper application a must, but e-app down the line. From what I have reviewed on the forum it looks like many like Lincoln Financial and Penn Mutual. Is this the case? Who do you like for GUL? Any experiences, good or bad?
Looking to add a solid GUL company...
- Thread starter Jakel
- Start date
- 24,968
Fully underwritten, Non Med or SI? I like LN also (Table shave Xs 3), Protective has been very good to me, Sagicor is super easy and non med through 65 and goes down to $25,000 for those 'burial plans'. A negative for Sagicor may be that you get paid a little less on paper apps. But just do an Eapp, no PHI.
- Thread starter
- #3
- 24,968
If I were a FE "only" guy I would do Sagicor. I am very comfortable doing eapps and have a Microsoft Surface with a keyboard if I need to do one in home. I have not done a paper app with them in many years so I would have to check if that is still available.
Sample:
Male age 65, NonT
$25,000.00
$61mo @ Prd
$77mo @ Std
$123mo @ Rated(T3ish)
Bonus:
They also do Non Med Term.
Same guy wants a $100,000 20 year term.
$106mo @ Prd
$130mo @ Std
$271mo @ Rated
Sure a Protective ULTerm is $103 and does not increase after 2o years, But, that is full underwriting.
- 24,968
Let me back track on something.
If I were an FE only guy, that has only been at this a couple of years, I think I would find someone like Jeff Root's agency that would do a type of drop ticket for me. Many FE guys are not wired to jump through the underwriting hoops some of these cases can be throw out there. Also they are better off concentrating their time running leads.
Or better yet, Send them to your old buddy Wino and we can work something out.
If I were an FE only guy, that has only been at this a couple of years, I think I would find someone like Jeff Root's agency that would do a type of drop ticket for me. Many FE guys are not wired to jump through the underwriting hoops some of these cases can be throw out there. Also they are better off concentrating their time running leads.
Or better yet, Send them to your old buddy Wino and we can work something out.
Rob Lion
Guru
- 653
Protective.
Rob Lion
Guru
- 653
Sagicor assuming Eapp you will literally have an app issued within minutes there non med is priced well even with FUW products. Also, with protective you can write a Term that's built on a UL (FUW) that after the initial period it turns into a decreasing term but keeps the same premium i know you said you're writing GUL this is still an awesome product to have if ever find yourself writing term and they issue the fastest among FUW carriers.
- 5,260
Let me back track on something.
If I were an FE only guy, that has only been at this a couple of years, I think I would find someone like Jeff Root's agency that would do a type of drop ticket for me. Many FE guys are not wired to jump through the underwriting hoops some of these cases can be throw out there. Also they are better off concentrating their time running leads.
Or better yet, Send them to your old buddy Wino and we can work something out.
Sagicor is good for the FE guy. That's what I recommend to my agents.
Also, take Lee's advice above and look for a drop ticket solution for more complex, non-FE cases. One can get rather sidetracked with these fully underwritten deals.
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