Sons of Norway SIWL

[Baseball7]

Biggest issue is drafting a premium and the fraternal fee separately and not offering more than like three draft dates in the month

 

[goillini52]

Biggest issue is drafting a premium and the fraternal fee separately and not offering more than like three draft dates in the month

They draft the $24 membership fee at the same time as the 1st premium. They have to be a member to take it, but they don't have to renew the membership to keep the policy.

 

[goillini52]

Wow lots of drama that most people just don't need. Anyway back to Sons of Norway. It sounds like their siwl is a pain in the butt? Is their GI any better? If so what should one be able to get with them % wise?

They do everything slow, but those rates are hard to beat. Ages 0-75 is 50% commission/76-85 is 40%. All ages have 5% renewals yeards 2-10. 2% after.

I've only written one GI, which is all I'm going to use them for. Slow motion.

 

[WinoBlues]

Ages 0-75 is 50% commission/76-85 is 40%. All ages have 5% renewals yeards 2-10. 2% after.

Is that for GI?

 

[goillini52]

Is that for GI?

Yes. 90% FYC for Whole Life/ SIWL. 5.5% renewals years 2-10 and 2.25% after.

 

[billyb]

I got a call from a new guy in the HO on Friday. They will soon announce that the membership can be paid monthly and collected with the premium. They are thinking about letting agents do the PHI in the home. I think they will announce this on the 8/20 conference call.

I wrote a $35,000 SIWL with them last week. The man was in excellent health. After I submitted the application I was running illustrations and the same applicant can get a $50,000 FU WL for $30 more so when I deliver his $35,000 policy I will ask if he wants to go through underwriting and get the additional coverage for a small difference in premium. Their WL rates are as low as GUL.

They are having a bonus campaign on WL right now. 125% instead of 90%.