Product Help - Final Expense type (1035s)

[Life Hawk]

just so I can be sure I am following the discussion,

The question comes because the current carrier for the policy doesn't offer any options to apply the cash value to an additional death benefit?

Competition! Better numbers somewhere else maybe?

 

[LostDollar]

you were fast with the reply. I deleted my question because I started looking at "paid up" and decided I didn't understand enough to even be asking the question.

I have an old policy that I think behaved differently, but I would have to find it and see what happened with it to formulate thoughts/questions better.

 

[Life Hawk]

you were fast with the reply. I deleted my question because I started looking at "paid up" and decided I didn't understand enough to even be asking the question.

I have an old policy that I think behaved differently, but I would have to find it and see what happened with it to formulate thoughts/questions better.

Usually you can't beat SPWL. $ for $ it is a good option that works well when it fits.

 

[Life Hawk]

you were fast with the reply. I deleted my question because I started looking at "paid up" and decided I didn't understand enough to even be asking the question.

I have an old policy that I think behaved differently, but I would have to find it and see what happened with it to formulate thoughts/questions better.

Don't often get accused of being fast. Thanks.

 

[WinoBlues]

Ue

Don't often get accused of being fast. Thanks.

Yeah, we all prefer they lie to us.

 

[Todd King]

Todd, I don't write life insurance and can't recall when I have written an SPWL, but isn't the underwriting minimal? Basically underwriting the difference between the CV and FA?

It usually is. In comparison, it's usually the same as regular FE questions. That will hold true unless you are using a UL to do it.

 

[NewbieNewbie]

I sounds like death benefit not cash value is the priority here. If that is the case and only, perhaps a single pay 1035 to a GUL might make a lot of sense.

 

[Life Hawk]

I sounds like death benefit not cash value is the priority here. If that is the case and only, perhaps a single pay 1035 to a GUL might make a lot of sense.

Just be careful that you don't overly complicate or confuse your potential client... confused prospects generally don't buy.

 

[LostDollar]

Usually you can't beat SPWL. $ for $ it is a good option that works well when it fits.

Ok, I hunted up a policy.

This is most definitely a "non-agent" type question- if you don't want to respond, just say so no hard feelings. (And part of my question below is going to sound critical of op-I am not trying to say current market offerings may not be better choices-I just want to understand the circumstances which are being dealt with.)

I have a life insurance policy that was issued when I was born. It became "paid up" in twenty years, at which time my father gave it to me to make the choices for. (for today's cash requirements, the cash involved is trivial.) The option I chose was to forgo the cash involved in the policy and receive an increased death benefit, approximately double the original policy face.

Coming from an experience of one policy, I can read the words, but not really understand the context of op's original post. My carrier, Sun Life-in the forties, provided paid-up options to get an increased death benefit; cash and a death benefit; pay some more and get an annuity; and something else. So how does one have a "paid up" policy that has both the original death benefit and cash? Has op not carefully reviewed the policy documents? Are the policies really not paid-up? Did different carriers have different plans for when a policy holder didn't have to make payments any more? or what?

Any response you'd care to make would be welcome.

 

[somarco]

don't overly complicate or confuse your potential client... confused prospects generally don't buy.

FOUR thumbs up on that one