Starting in Final Expense

[Stratos]

Let's take an example of a 70 female, standard no-tobacco, with a death benefit of $15,000.


$77.43 a month...

 

[Winter_123]

Let's take an example of a 70 female, standard no-tobacco, with a death benefit of $15,000.


$77.43 a month...

Thanks, what's the cash value ten years out?

Winter

 

[GreenSky]

Thanks, what's the cash value ten years out?

Winter

Never thought the cash value important. This is a final expense policy - not something anyone would plan using for a loan or to cash out.

By the way, the same plan with Oxford Life is $66.99 per month.

Rick

 

[Macdaddy]

Let's take an example of a 70 female, standard no-tobacco, with a death benefit of $15,000.


$77.43 a month...

Which company are you getting this quote from?

 

[Winter_123]

Never thought the cash value important. This is a final expense policy - not something anyone would plan using for a loan or to cash out.

By the way, the same plan with Oxford Life is $66.99 per month.

Rick

This is a whole life policy and part of explaining the policy should be to disclose the cash value. It is not a matter of what the agent wants and disclosing is not a recommendation to cash it out or take a loan or anything. It is an aspect of the policy and policies cannot be compared without knowing it.

Someone gave a quote for 77 per month. I looked at a few figures and saw that Mutual of Omaha's plan was only a few dollars per month more and of course is a household name company that has credibility with seniors. In addition the policy would build cash value of $5,000 at the end of 10 years (half the value of the premiums paid). So does this policy for 77 build any cash value and what is it. Otherwise, how can you compare policies?

Winter

 

[pfsthib]

Chesapeake $75.34 Monumental $100.70

 

[Slick]

Summary:

70 y/o female, non smoker, standard, $15k death benefit.

Amount Carrier/Product/Notes
$ 66.99 Oxford Life
$ 75.34 Chesapeake
$ 80.00 Mutual of Omaha (estimate)
$ 81.25 Continental Life/EZ Life/4 question app.
$ 86.40 Baltimore Life/Silverguard 1
$100.70 Monumental

 

[Stratos]

Let's take an example of a 70 female, standard no-tobacco, with a death benefit of $15,000.


$77.43 a month...

The rate quoted above also does not require a phone interview. Which is good when taking an application from a farmer while he is bailing hay in the barn.. The rates are almost identical with Oxford though age 65.

I also write Oxford and they have recently changed their interviewing process, takes much longer.

 

[Slick]

The rate quoted above also does not require a phone interview. Which is good when taking an application from a farmer while he is bailing hay in the barn.. The rates are almost identical with Oxford though age 65.

I also write Oxford and they have recently changed their interviewing process, takes much longer.

I'm still unclear who has the $77.43 rate.

In regards to Oxford Life, who are you contracted through and how well do they pay?

 

[Winter_123]

I'm still unclear who has the $77.43 rate.

In regards to Oxford Life, who are you contracted through and how well do they pay?

Oxford is a B-rated company, for those to whom it matters or expect E&O coverage.

Winter