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For you LI pros:
I have a situation where I will be competing for a 10 year term policy.
My competitor is another agent that sold the client a Penn Mutual COLI policy a few months ago, and the client was rated a table 4 at that time.
Now the client wants a personal policy.
The other agent (that sold him his COLI) is now quoting a standard rating on this personal policy...and is claiming he can do so by using the Penn Mutual "table shaving" program.
Can you table shave on a term policy? Does this make sense? I don't know much about table shaving other than many carriers don't do it.
Thanks in advance.
I have a situation where I will be competing for a 10 year term policy.
My competitor is another agent that sold the client a Penn Mutual COLI policy a few months ago, and the client was rated a table 4 at that time.
Now the client wants a personal policy.
The other agent (that sold him his COLI) is now quoting a standard rating on this personal policy...and is claiming he can do so by using the Penn Mutual "table shaving" program.
Can you table shave on a term policy? Does this make sense? I don't know much about table shaving other than many carriers don't do it.
Thanks in advance.