Quick Sales Tip

[jdeasy]

I guess I am not asking a specific enough question or i do not understand the MoR.

Since they are not covered under the so called guarantee association what is their safety valve? I may have my info crossed.

More specifically-

Mary pays $50mo for $25,000 on a Fraternal WL policy. 10 year old policy with $500 cash value.

The company decides to exercise the MoR. Six months later she dies. How much does Mr Bene get?

Assuming no death, is her CV still $500?

This is the last MoR question for today for me. I don't do much replacement but I do periodically compete.

The company can't just decide to touch the reserves. And they would have to exhaust their mandated reserves first.

Again, I see it as a good thing that a company could correct quickly. I mean quickly in insurance company terms. But not drug out for years and years.

 

[jdeasy]

Have you ever read a certificate?

Everyday. Apparently you haven't. But I'll wait on that guarantee you claimed to be there.

 

[WinoBlues]

The company can't just decide to touch the reserves. And they would have to exhaust their mandated reserves first.

Again, I see it as a good thing that a company could correct quickly. I mean quickly in insurance company terms. But not drug out for years and years.

So, $25,000 and $500?

I may have been mistaken in my understanding that the Death Benefit would/could be used as collateral without thier consent.

Got to search out a copy.

Have a good weekend.

 

[rousemark]

Making claims without proof. I write fraternals, too. I'd love for you to back up your statements, but I'm betting you cannot.

Not sure how old you are but I probably wrote my fist fraternal certificate long before you entered into the business... I am not fraternal hater as JD claims. That is just his way of attacking anyone that might say something he disagrees with. The maintenance of reserve clause gives the companies the right to level assessments against the policy but the process is there. It can't be done on a whim but it can be done and that clause is in every fraternal certificate. I posed a portion of an assessment letter that Royal Arcanum sent to ACA policy holders that RA assumed. That assessment alone is proof it can be done.

 

[rousemark]

They spell it out clearly in their certificate that they can come back to the member and assess charges. All you have to do is show that to the person and ask them if they would rather have a policy.

Seems to me JD knows the facts .. Don't know why he takes offense every time they are mentioned now that he is selling KSKJ so heavily.

 

[WinoBlues]

The maintenance of reserve clause gives the companies the right to level assessments against the policy but the process is there. It can't be done on a whim but it can be done and that clause is in every fraternal certificate.

I am pretty sure I have a copy somewhere. Going to need to drag one out now.

Having lived through the 90s UL mess. Nothing is Guaranteed, unless it is Guaranteed.

 

[DonP]

I am pretty sure I have a copy somewhere. Going to need to drag one out now.

Having lived through the 90s UL mess. Nothing is Guaranteed, unless it is Guaranteed.

100% agree . And if kskj ever assesses the death benefit jd will be run out of Kentucky. Trust nothing is what I've learned .

 

[The Deplorable]

Starting to feel like Home again in here! Keep it up boys....

 

[WinoBlues]

100% agree . And if kskj ever assesses the death benefit jd will be run out of Kentucky. Trust nothing is what I've learned .

I am not saying anyone is wrong. I read and understand the MoR differently.

But yeah, I have been in this world long enough to have seen the 'never gonna happen', Happen.

 

[jdeasy]

100% agree . And if kskj ever assesses the death benefit jd will be run out of Kentucky. Trust nothing is what I've learned .

Can't happen. So the second won't happen either.

I tell you where I was in a problem with clients, I wrote a ton of Shenandoah in my NAA days. Then Shenandoah went through receivership for many years and my clients were in the same as CB clients now.