Million-dollar whole life!
- Thread starter JT Agent
- Start date
Sagicor has a single premium whole life. And I'm happy to split the commission with you
Just curious what makes you think he is talking about single premium? I would be happy to split commissions on an annual premium...
- Thread starter
- #4
Most companies have a limit on advance per policy and in the case of a million WL, I would think the as earned will be more than the advance limit..
It really depends on a lot of factors, not limited to underwriting and primary objective.
I don't know which companies advance on WL but I would think that might be tough if you're dealing with some of the major players (since they're primarily mutuals)
If you're looking for cash accumulation, Mass, Guardian, Ohio National, and Penn are all going to be great options.
If you're primarily concerned about death benefit, pricing becomes very important and different carriers may be superior (SBLI for example).
For DB only cases, you should also quote GUL. Depending on age (the older the better), a GUL can get you more "bang for the buck" than WL.
I mention this because some consumers blanketly call permanent insurance whole life, even though that's not the case.
Good luck. Sounds like a nice case if you get it done.
I don't know which companies advance on WL but I would think that might be tough if you're dealing with some of the major players (since they're primarily mutuals)
If you're looking for cash accumulation, Mass, Guardian, Ohio National, and Penn are all going to be great options.
If you're primarily concerned about death benefit, pricing becomes very important and different carriers may be superior (SBLI for example).
For DB only cases, you should also quote GUL. Depending on age (the older the better), a GUL can get you more "bang for the buck" than WL.
I mention this because some consumers blanketly call permanent insurance whole life, even though that's not the case.
Good luck. Sounds like a nice case if you get it done.
- 6,007
Dude - you better go As Earned or at most 3 month advance. $1mill gonna be $300 - $500 a month probably . . . At 120% - 130% that will be a nice commission - but, a horrible charge back . . .
- 11,468
Probably 4x that amount... depending on age and underwriting... and probably about 80%+ depending on the selling contract.
The real question is... why do they say they want it? That will help determine if the policy will lapse later on... or not.
- 11,468
No... so sell them on paying it annually rather than monthly.
It would be wise to temper your expectations at this point in the process, you are a long way from being paid a commision. Minds change , new details are uncovered.
A really good buddy of mine wrote huge case a few years ago, the commision was going to be around $90,000. The client then proceeded to have a heart attack during the medical exam.
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