ROP Term

[James]

Like it said before:

Good for the agent/carrier

Not good for the client.

Consider when the last time you paid for something for 20-30 yrs.

Home is usually a thirty years in length, most people have auto debt and credit card debt for longer then thirty years and I'm sure the list goes on and on.

 

[insuremojo]

I have sold some term w/rop but not lately. The clients I sold this to are well aware of what they have and that they need to keep the term for the entire contract length to see the benefit at the end.
The value is in the eye of the beholder. If YOU don't believe in it don't sell it...you'd probably have trouble selling something that you don't believe in anyways.

 

[somarco]

ROP term does make sense for business insurance. 10 yr ROP term in a keyman or buy-sell can be worthwhile.

I really dont see many folks buying it for mortgages and hanging on for 30 years. Heck, most folks don't keep their wife that long much less a home.

 

[STIBROKER]

I really dont see many folks buying it for mortgages and hanging on for 30 years. Heck, most folks don't keep their wife that long much less a home.

all depends on how it is sold......I don't sell for morgage and you will always have the need for companionship..............

 

[James]

ROP term does make sense for business insurance. 10 yr ROP term in a keyman or buy-sell can be worthwhile.

I really dont see many folks buying it for mortgages and hanging on for 30 years. Heck, most folks don't keep their wife that long much less a home.

How many carriers are selling 10 year ROP?

 

[STIBROKER]

How many carriers are selling 10 year ROP?

according to this site 10.....

http://www.lifequotecenter.com/index.htm

 

[James]

according to this site 10.....

http://www.lifequotecenter.com/index.htm

I tried it and it told me I had to pick 15, 20 or 30???

 

[STIBROKER]

I tried it and it told me I had to pick 15, 20 or 30???

sorry my bad...did not see the 10yr....

 

[agent007]

Not to say that I don't sell it. I just wonder about the 30yrs. I'm in my mid 30's and hope never to have an auto debt or cc debt that long. As far as the mortgages, most ppl would want to and hopefully try to pay off the principal to shorten the length of the note in years.

I don't know of anyone personally that has actually kept any note that long.

Like I said before, I sell the ROP. The 20yr ROP is my favorite. Would I personnally purchase an ROP term? No.

 

[James]

Not to say that I don't sell it. I just wonder about the 30yrs. I'm in my mid 30's and hope never to have an auto debt or cc debt that long. As far as the mortgages, most ppl would want to and hopefully try to pay off the principal to shorten the length of the note in years.

I don't know of anyone personally that has actually kept any note that long.

Like I said before, I sell the ROP. The 20yr ROP is my favorite. Would I personnally purchase an ROP term? No.

Just a rule that I submit myself to, own what you sell and never sell what you wouldn't buy!