Kim Mastridge
New Member
- 7
I am looking at increasing my options in this market as it is a niche for me. Does anyone have a particular preference for who they are writing it with and if so, why? Thanks in advance!
Mortgage Protection/Decreasing Term Products...who do you like?
- Thread starter Kim Mastridge
- Start date
Decreasing term doesn't really exist anymore.
Protective's custom UL is probably the closest that you'll find with a level premium and a death benefit that decreases over time.
You could also use Banner and just ladder the coverage. For instance, if someone has a 1m 30 year mortgage, you could do 200k 30yr term with term riders of 200k for 25, 20, 15, 10.
That way your DB would go 1m, 800, 600, 400, 200 over time. It would be less expensive than just buying 1m of 30 year term.
Those are the two strategies I use for a decreasing obligation.
Protective's custom UL is probably the closest that you'll find with a level premium and a death benefit that decreases over time.
You could also use Banner and just ladder the coverage. For instance, if someone has a 1m 30 year mortgage, you could do 200k 30yr term with term riders of 200k for 25, 20, 15, 10.
That way your DB would go 1m, 800, 600, 400, 200 over time. It would be less expensive than just buying 1m of 30 year term.
Those are the two strategies I use for a decreasing obligation.
- Thread starter
- #3
Kim Mastridge
New Member
- 7
Thanks Tahoe, I will take a look.
- 10,329
Decreasing Term exists as a Rider on Guardian WL.
1/3 reduction every 5 years on a 15y rider.
The reduced portion is Convertible.
1/3 reduction every 5 years on a 15y rider.
The reduced portion is Convertible.
- 10,329
That is a very interesting product Todd. Thanks for sharing!
- Thread starter
- #8
Kim Mastridge
New Member
- 7
Thanks all (Todd, I second what Tahoe said, lol). Please DM me on it.
It is SI. Standard non-tobacco and Standard Tobacco rates.
