Need help with a WL quote

[secondcreek]

72 yr old fellow asked me for a quote on 250k WL policy.

When I asked if he would be open to a GUL, he said not so much. He insisted on a WL quote and a monthly payment.​

I asked him the purpose of the policy and he said the only reason is to leave money to his daughter.

Can anyone help me with a 250k WL quote for the guy--72 male, NT, std health rating, in Alabama?

 

[Lloyds of Lubbock]

A Guardian l121 is about 14k
Penn payable to 100 is abround 17k.
While I am a whole life fan based on the above I think A GUL is a better fit.
A Penn GUL is around 10k

 

[Allen Trent]

If he wants to make a trip to Michigan, $11,920 a year for $250k WL on protection based low dividend policy. looks a lot like a GUL product except it guarantees the cash value will equal death benefit at age 100 because it is WL

 

[billyb]

Lafayette Life Heritage 2020

 

[DayTimer]

How many 72 years olds getting approved for $250K at preferred?

How many 72 year olds getting approved for $250K period?

Did he want the policy more for death benefit or for cash value? Who is the beneficiary?

 

[DHK]

If he wants to make a trip to Michigan, $11,920 a year for $250k WL on protection based low dividend policy. looks a lot like a GUL product except it guarantees the cash value will equal death benefit at age 100 because it is WL

While @DayTimer makes a good point about the underwriting class, I wonder how that lean WL would look with premium offset after perhaps 20 years of paying premiums? Then the cumulative total premiums could be less for a death benefit sale.

How many 72 year olds getting approved for $250K period?

Did he want the policy more for death benefit or for cash value? Who is the beneficiary?

I'd probably ask Van Mueller - but I bet he does more single premium life policies at that age.

 

[Robert Barney]

 

[WinoBlues]

How many 72 years olds getting approved for $250K at preferred?

How many 72 year olds getting approved for $250K period?

Did he want the policy more for death benefit or for cash value? Who is the beneficiary?

""I asked him the purpose of the policy and he said the only reason is to leave money to his daughter.""

A boatload of 72 year olds will qualify for $250,000 and more. While not as many but there are a lot of healthy people in their 70s. I would not haphazardly quote them preferred though.

 

[Allen Trent]

I would not haphazardly quote them preferred though

are you suggesting super-preferred?

 

[WinoBlues]

View attachment 6005

$2,000 difference. If we have a 72 year old that can afford $12,000, he may see the value of having options 10 or 15 years from now. He has already said he preferred WL over GUL.