Million-dollar whole life!

[myinsurebiz]

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.

Shoulda went Non-Med

 

[TampaHound]

If it does work out, stick that money into something safe and sit on it for it awhile.

 

[goillini52]

If it does work out, stick that money into something safe and sit on it for it awhile.

That sounds kind of gross.

 

[gambrinus]

Shoulda went Non-Med

That's the reply of the day.

 

[JT Agent]

the clients are a married couple earning about 100k each.just bought a house and new baby.both are under 40 years old in good health

 

[Todd King]

the clients are a married couple earning about 100k each.just bought a house and new baby.both are under 40 years old in good health

Yeah, you should probably be looking at a UL policy for them.

 

[myinsurebiz]

the clients are a married couple earning about 100k each.just bought a house and new baby.both are under 40 years old in good health

WL is going to be expensive and imo waste of money. 30year Million $ Term with Living Benefits on each, Child Rider, Waiver Rider and encourage them to "Invest The Difference" . . .

 

[DHK]

WL is going to be expensive and imo waste of money. 30year Million $ Term with Living Benefits on each, Child Rider, Waiver Rider and encourage them to "Invest The Difference" . . .

You are the LAST person to give advice on large WL policies. Term is the waste of money... but is better than nothing.

However, what we still don't know... is WHY they want the policy.

 

[DHK]

Yeah, you should probably be looking at a UL policy for them.

Or a blended WL/Term rider/PUA rider, etc.

 

[myinsurebiz]

You are the LAST person to give advice on large WL policies. Term is the waste of money... but is better than nothing.

However, what we still don't know... is WHY they want the policy.

Dude - it isnt rocket science on WL. Now - UL is a different animal. But - I'm all for Buy Term & Invest The Difference. But - the client has to do both parts of the equation.

If they " Invest The Difference " for 30 years - they won't have a need for permanent insurance . . .

The "why" seems obvious. They need protection for the mortgage, child and surviving Spouse . . .

Term isn't a waste of money - it's accessing large amount of Death Benefit and Living Benefits at an affordable price. WL is a waste - due to most of them lapsing before they can cash out or get RPU. Just my opinion of course.