Replacing a variable Whole life on a 25 year old

Aug 6, 2019

  1. Lloyds of Lubbock
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    Lloyds of Lubbock Super Genius

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    I believe it was Prudential
     
  2. WinoBlues
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    WinoBlues Guru

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    In my case
    John Hancock, Established April 21, 1862
     
  3. pfg1
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    pfg1 Guru

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    Are you sure its a Variable WL? My guess, its likely a Variable UL.
    Any variable policy is likely expensive, which holds down the returns. Also, to get decent returns in a life policy it takes time. (and on a $50k death benefit, it will take their entire life -its not a big enough policy to drive substantial returns) I'm not sure what they are expecting, or why. I feel there is more to the story that isn't told here.
    Personally I'm not a fan of Variable Life. Max funded Whole life or IUL give a solid long term RoR, without the excess cost or risk of variable. For full living benefits, LSW or AIG are who I look at.
     
    pfg1, Aug 9, 2019
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  4. WinoBlues
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    Hey Frank, I think someone else answered the same as I would.

    If you are Variable Licensed don't review it.
    Simply approach it like any other appointment.
    What is their want? Do they want death benefit? Price? Cash Values? Living Benefits? Short pay? Will the 25 yr old sit for an exam? Healthy? Clean MVR? Will they pee clean?

    Then propose your solution.

    I agree with PFG1 the $25k Variable probably isn't going to do much for this kid.

    Just curious, What is the current monthly premium?
     
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