Lowest Premium on Final Expense? Who?

[tyler9953]

I am looking for the lowest rate on final expense whole life. Currently I sale for Forestors, Americo, Mutual, Amicable, United Security L&H. Thanks!

 

[pomfin]

I am looking for the lowest rate on final expense whole life. Currently I sale for Forestors, Americo, Mutual, Amicable, United Security L&H. Thanks!

Colorado Bankers Life is one of the lowest I'v seen. Someone said Royal Neighbor but it seems that its underwriting was not consistent and have issues.

 

[WinoBlues]

Check out Oxford. However, I hear they are looking to increase premium. And change the App.

 

[Mark]

No one company will ever always be the cheapest. It is good to have at least a couple of companies to pick from.

 

[magagent]

The underwriting at RNA can be classified as being "sloppy". One week you may send them a case when a client has a certain condition and they issue no problem. A month later you have a client that has the exact condition and they decline it.

 

[B_Life]

Do Colorado Bankers Life have POS telephone interview?

 

[Todd King]

CBL isn't set for it just yet. I don't know if that's still in the works or if they dropped it.

 

[tyler9953]

I quoted Oxford and the guy said that his P&C agent could still beat that quote. I don't think he is quoteing what I am quoteing. I asked what company his P&C agent was quoteing and he didn't know...
This one gets me a little, because I handle this guys Medicare Advantage Plan. We do a lot of personal service (newsletters etc.). Oh, well. It may be that he has a better relationship with his local P&C guy. Thanks for the help guys. I will check with the Colorado company.

 

[Todd King]

The P&C agent is probably quoting him term or UL.
How much are you trying to write on him? How is his health? Smoker? NS? Age?

 

[TristanTLC]

No one company will ever always be the cheapest. It is good to have at least a couple of companies to pick from.

In my opinion, this is perhaps the best answer to the question. The FE market is so precarious that the same carrier may be better in one situation and not others.

That being said, I generally do not sell products based on "price." Generally, there is a true value associated with certain products that may justify the price. I do agree that there are some price that are just too high for the value they add, but the determining factor is not always price.

To use an example, RNA and Forester both offer member benefits that go beyond price. American General has a Quality of Life program that is a fantastic addition even if it does cost a little more (this is not an FE product.) Some carriers offer a memorial planning service that member prefer.

Price is a main ingredient in determining the sale, but I urge you to sell to the need of the client and not always the "cheapest" policy.