New Job Loss Insurance?

Jun 29, 2007

  1. brmitch44
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    brmitch44 New Member

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    Is anyone selling the new Job Loss Insurance??? (IUI)

    Seems like a real door opener for the mortgage life agents...

    any feedback please............


    Thanks
     
  2. somarco
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    somarco That Medicare Guy

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    Not new. Been around for at least 3 years, possibly longer.

    Sounds good until you actually read what it takes to qualify.

    Can't say if the one you refer to is like this, but every one I have seen works like this.

    To collect you must be receiving unemployment compensation and must have been out of work for 60 (sometimes 90) consecutive days. The benefit will pay your mortgage (P&I only) for up to 6 months as long as you continue to qualify for unemployment compensation. The policy must be renewed each year to be eligible to receive benefits. If the policy term expires while you are receiving benefits, all payments will cease until you requalify.

    The premium is anywhere from $350 - $600 and you are paid a $50 finders fee.

    Would you buy a policy like that?
     
    somarco, Jun 29, 2007
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  3. senior-advisor-indiana
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    senior-advisor-indiana Guru

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    6 month benefit? What a joke. Is that the lifetime max?
     
  4. senior-advisor-indiana
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    senior-advisor-indiana Guru

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    Can insurance agents collect unemployment?
     
  5. brmitch44
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    brmitch44 New Member

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    Job Loss Insurance

    can i SERVE you some spam.....

    [​IMG]
     
    Last edited by a moderator: Jul 9, 2007
  6. brmitch44
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    brmitch44 New Member

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    Job Loss Insurance

    [​IMG]



    you are starting to piss me off now...go ahead and start a new thread....
     
    Last edited by a moderator: Jul 9, 2007
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