Return Of Premium....???

Hey Bill, Golddoor who used to be on here used an avatar similar to yours. Wait until Al (a/k/a Jackass) sees it. He complained about Golddoor"s hurting his eyes. I concurred.:unsure:

Yeah, this one hurts my eyes too. However I object just as much on the violent content. What kind of person WANTS to have this as their public logo? I know what opinion I form about the person... but that's me and YMMV. I just hope is is all in fun... but when you don't know the person you just never know.

The Jackass
 
I know from your posts, that you know your stuff, but I regularly write AIG for ROP and it is the most competitively priced ROP that I've found. I recently placed a 54 yr. Female in good health in a 20 yr. ROP and the premium was about 40% higher. I have little doubt that she willl keep it. She was replacing an expiring term that she kept for 15 years.

Good to know. Actually, I just got appointed with AIG so I dont know their ins and outs. My understanding so far is that they are a little weaker on conversion privilegs to permanent from term in comparison with Genworth. That's what I have heard anyway. I will need to put it under the microscope. Also, I just saw some announcement on an upgrade of their guaranteed UL so I am going to run some quotes on that tomorrow to see whats what and if they are any good there compared to say genworth or west coast.

Thanks for the heads up.

Winter
 
I've found that ING Reliastar ROP is competitive as well. I just ran a quick comparison...
Stats:
31yr old in MT (unisex rates)
preferred nt (not super-preferred)
$250k

30y Term: $26/mo
30y ROP: $36/mo

I use the ROP idea when I have someone that says they don't want to waste their money on term insurance but can't afford UL as well. I'm not sure if this is how AIG's product is but with ING, they have guaranteed insurability at the end of the term if they use the cash to buy a permanent product. Sure, it might not be the best option but it's better than nothing at all. Considering when this person is going to be at the end of their term, they're in that stage of life when things start going wrong.
Also, say if somebody decides at 10years they don't need the policy or wants to get a different policy, they at least get some cash back.
I think ROP gives people options and from all of the quotes I've done, its the middle of the road option when comparing costs of term and UL.
BTW, when I quote UL, I quote the premium that will carry the policy for the person's lifetime. I never quote the bare minimum.
 
American General is the way to go for ROP....I;m 29 preferred and got a 30 year term 250k for $24/month. 10,000 coming back to me in 2038, that or the wife does me in and lives life on the beach!!!
 
I have sold ROP with AIG as well. Rop is a great tool when a client tells you term insurance is a waste of money...You tell them they will get every penny back at the end of the term, they shut up and sign the check.
 
I have sold ROP with AIG as well. Rop is a great tool when a client tells you term insurance is a waste of money...You tell them they will get every penny back at the end of the term, they shut up and sign the check.

I don't know about all carriers but ROP numbres only seem to "work" on 30 year plans. On 10 and 20 plans the rates get too high from what I've seen.

The Jackass
 
y. Most often I will counsel that these premiums are just an expense (and tax deduction) and should be viewed as such.

Are you saying the premiums for a life policy are tax deductible?
 
Forgive a newby question...

Looking for a CI/Disability policy that gives a return of premium.

I was conversing with an agent who said there were products available that offer the following....with a return of premium...if not used.

Unfortunately...i didn't get a company name.

Anyone know of such a product?

~T


GTL HAS A GREAT PRODUCT that refunds your money back and covers 18 conditions. You can goto
http://www.rosenthalfinancialservices.com/_downloadz/Critical Provider Client.pdf <-- Client Guide.
 
Last edited:
Back
Top