Term Conversions of Primerica Through Other Companies?

chindel

New Member
10
I've checked with Crump, OneAmerica, and a couple of brokers I know, and haven't found a company willing to convert a Primerica policy. Does such a company exist?

Guy's only other option is GI. I know this question was posted before but it's been 8 years.
 
Some carriers allow external term conversions if the policy was issued in the last 3-5 years. Transamerica does term to term. Primerica ok. Nationwide and MetLife used to allow term to GUL.
 
Some carriers allow external term conversions if the policy was issued in the last 3-5 years. Transamerica does term to term. Primerica ok. Nationwide and MetLife used to allow term to GUL.

Interesting. Does it have to be the same duration term for Transamerica?
 
I've checked with Crump, OneAmerica, and a couple of brokers I know, and haven't found a company willing to convert a Primerica policy. Does such a company exist?

Guy's only other option is GI. I know this question was posted before but it's been 8 years.

Even most companies that convert another carriers policies don't do it without underwriting and will still hit the MIB. So if there are issues there, and/or your client can't truthfully answer the medical questions on the app... you will run into trouble. You say GI is his only option.... that makes me think there are some major health issues, which may cause it to be a no go even if you find someone that is willing to do the conversion.
 
Even most companies that convert another carriers policies don't do it without underwriting and will still hit the MIB.

Im not sure if Met still does their External Term Conversions still. But there were no UW requirements with them if I remember correctly.

The main requirements is that it had to be within the first 5 years, they only accepted certain carriers, Standard rating or better, & no SI or GI policies.

http://usa-bga.com/wp-content/uploads/Metlife-External-Term-Conversion-Producer-Brochure.pdf
 
MetLife ended their external term conversion program on July 1st. They have a new similar program though.
 

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Why does he need a conversion? he has PRIMERICA term. If he invests the difference there's no possible reason he should ever need insurance after it expires!! XD
 
Why does he need a conversion? he has PRIMERICA term. If he invests the difference there's no possible reason he should ever need insurance after it expires!! XD

And better yet, as a good chunk of sales are made internally to new recruits, so he's obviously working for them, he won't need insurance as he'll be clearing $60k after his first month once licensed! :D
 
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