Need High Death Benefit Guaranteed Issue Term with ROP

[GXR2]

My primary focus is P&C, but also licensed in life. I'm seeking to increase my life sales and thus targeting my new home buyers with a mortgage protection insurance campaign.

Most of these prospects are busy at this stage and not interested in, or don't have the time for, a fully underwritten term policy. Many are not in best of health and/or would be table rated.

The leading concern of these new home owners is cash outflow. An ROP option can help soften, and/or alleviate that.

Some guaranteed issue term policies I've seen are basically final expense with max death benefit of $25k/10 years. Obviously not enough to cover a mortgage.

What carriers offer guaranteed issue term up to 30 years with an ROP option and high death benefit? Average mortgages in my area are $250k - $500k.

What are premiums like for a policy such as this?

Thanks.

 

[NewbieNewbie]

Nobody is offering a guaranteed issue 30 year term.

 

[TwiLight]

There are many simple issue term plans available which are about 30% higher in price compared to fully underwritten plans. That is mainly because they issue a table 4 risk as standard. They also have higher commissions than fully underwritten plans.

I do have a competitively priced simple issue tern plan up to $400k face and is non-med. Feel free to call me or send a PM to get details.

We also also have many non med term plans that have great prices and may order an aps to keep rates lower.

Skipper

 

[Mattschmidt]

My primary focus is P&C, but also licensed in life. I'm seeking to increase my life sales and thus targeting my new home buyers with a mortgage protection insurance campaign.

Most of these prospects are busy at this stage and not interested in, or don't have the time for, a fully underwritten term policy. Many are not in best of health and/or would be table rated.

The leading concern of these new home owners is cash outflow. An ROP option can help soften, and/or alleviate that.

Some guaranteed issue term policies I've seen are basically final expense with max death benefit of $25k/10 years. Obviously not enough to cover a mortgage.

What carriers offer guaranteed issue term up to 30 years with an ROP option and high death benefit? Average mortgages in my area are $250k - $500k.

What are premiums like for a policy such as this?

Thanks.

If your prospects are working, then can get $170,000 thru an association plan. Guaranteed issue. But not ROP, and it's an age banded product, with increasing premiums.

 

[jdeasy]

My primary focus is P&C, but also licensed in life. I'm seeking to increase my life sales and thus targeting my new home buyers with a mortgage protection insurance campaign.

Most of these prospects are busy at this stage and not interested in, or don't have the time for, a fully underwritten term policy. Many are not in best of health and/or would be table rated.

The leading concern of these new home owners is cash outflow. An ROP option can help soften, and/or alleviate that.

Some guaranteed issue term policies I've seen are basically final expense with max death benefit of $25k/10 years. Obviously not enough to cover a mortgage.

What carriers offer guaranteed issue term up to 30 years with an ROP option and high death benefit? Average mortgages in my area are $250k - $500k.

What are premiums like for a policy such as this?

Thanks.

I would think you are looking for SI, not GI? But how would paying more for the ROP option help with the "cash outflow" problem?

 

[GXR2]

... how would paying more for the ROP option help with the "cash outflow" problem?

Good question. Some who won't buy tend to change knowing they'll get it all back. People are wired uniquely and perceive value differently. Agreed It's an odd psychological aspect that I don't quite understand. For some it makes sense. Just like to present the option.