Million-dollar whole life!

JT Agent

New Member
19
I have some clients that are asking for a million plus whole life policy. I have been mostly concentrating on Final expense policies big difference. I would appreciate any recommendations for companies 4 quotes and for me to get appointed to. Thanks in advance
 
Do u guys think , the insurance company could provide me in advance on first-year commissions?
 
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.
 
Do u guys think , the insurance company could provide me in advance on first-year commissions?

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 . . .
 
$1mill gonna be $300 - $500 a month probably . . . At 120% - 130% that will be a nice commission

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.
 
Do u guys think , the insurance company could provide me in advance on first-year commissions?

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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