Pre-need Replacement?

[floridabroker]

The op said they are paying $100 month for a $15000 preneed.

You are making a judgement based on unknown information. Even offering a contract. What's up with that??

With who? I HIGHLY doubt it? $100 a month does not compute in the preneed world.
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Most 52 year olds would qualify for Homesteaders preferred rates which are lower. You are comparing apples to oranges. Lifetime pay with level benefit compared to limited pay with increasing benefit. And RPU does NOT give you a paid up policy for what you have paid in with ANY company. You get a much lower amount of policy than what you have paid in.

Preferred rates with Homesteaders?

No such thing in Florida. What state are you writing it in?

 

[jdeasy]

With who? I HIGHLY doubt it? $100 a month does not compute in the preneed world.
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Preferred rates with Homesteaders?

No such thing in Florida. What state are you writing it in?

You may be right and it's not a preneed. That's what the op said it was.

If it is a preneed, it probably should not be replaced. I don't know what the person has or what would be better for them because there are too little facts that have been presented here.

 

[Newby]

With who? I HIGHLY doubt it? $100 a month does not compute in the preneed world.
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Preferred rates with Homesteaders?

No such thing in Florida. What state are you writing it in?

Homesteaders has preferred rates nationwide. Not many agents use it for some reason. You have to do a phone interview and answer a lot more health questions.

ForeThought and Assurant have them for their Preneed products also. They have for over 10-years that I know of.

JD is right. There are too many unknows on this puzzel. How long does the insured have to pay the policy? 5 years? 10-years? more? Is it really a preneed policy? What is the growth rate? Are there early payoff options?