Question of Ethics

[WinoBlues]

Gosh! I agree. too thnnnnnnxxxxxxx

I ran the figures using Compulife. I could have chosen Pref Plus but decided standard was correct because that's what I can qualify for. (Wish I was 45 though..)

Maybe a better question would have been using 10K of final expense. That way we wouldn't be looking at anything other than the cost. I don't think the cash buildup is a deciding factor in final expense and it just boils down to cost.

Rick

 

[ShanHikari]

I'll pose this for the agents on the forum. Let's assume you have a 45 yr. old non-smoker who wants 20 yr. term and KNOWS he won't ever convert. He wants $250K. All we are concerned about is the rates. Let's also assume he qualifies for standard rates with every carrier.

Here are some of the choices:

Savings Bank Life of MA $ 970
West Coast Life $ 995
Ohio National $1,000
Midland National $1,100

These are all A+ carriers although they do vary in size with West Coast being the largest.

Is recommending a carrier other than the lowest price ethical?

Rick

P.S. I'm only using term insurance because it's the easiest. We could use just about any insurance as the example.

Present all the options that you found, and tell them who you would go with. That gives the clients the option between one or two companies and give them the choice on whether they want a larger well known company or a smaller company at a cheaper price. I've done this before and 90% of the time they'll go with the cheaper company. If there tight on money I'd present each option, otherwise state that "I researched all products and this is the company that I would suggest for you currently."