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>>""that Death Insurance that salesman sold you""
yeah, I was cracking myself up typing that. The Wedge.>>""UHL 20 year ROP"" ""adult children of our clientele""
They have a Child rider on it as well.
TERM FE for Seniors
- Thread starter David Doss
- Start date
>>""that Death Insurance that salesman sold you""
yeah, I was cracking myself up typing that. The Wedge.>>""UHL 20 year ROP"" ""adult children of our clientele""
They have a Child rider on it as well.
No doubt that is good option for younger people than what you usually have for FE clients.. Columbian has an SI term with a RPU option but it isn't as rich as UHL as it only returns 50% of premium. Since it is unisex rted, it is not a good deal on a female but is competitive on a male..Here is something that may work for both.
Big product negative for this thread is it age caps out at 60
Let's say someone is still working or has a mortgage or a dependent child need like a single mother daughter.
Female age 60
20 pay $42,000
Oh and if you die during that 20 years they will pay out $50,000. Or if you choose they will just cut you a check for all of your money back.
And compared to that Death Insurance that salesman sold you? Well let's compare. .......
UHL 20 year ROP Term
I am the first admit this is not the typical FE sale. However, the guy asked about Term for FE
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Columbian is a company I would love to love, but comes up a bit too short too often. he simplified issue ROP term can't compete with MOO's product.
I do not write the ROP but I have written the non ROP with the Critical and chronic illness riders.
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Assurity has a ROP Term that is way better in price that UHL or MoO . . .
>>""that Death Insurance that salesman sold you""
>>""UHL 20 year ROP"" ""adult children of our clientele""
They have a Child rider on it as well.
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I tend to lean more toward the reduced paid up amount than the ROP.
I am going to regret this.
On a preferred risk that may be.
Not every case is about price. If someone is looking at ROP v Term they are considering value and if it is of value to them. IMohsoHO
What would a $50,000 20 year ROP Term be per month on a 60 yr old Female Standard Non T
Premium =
The Reduced Paid Up Amount =
Is it SIROPTerm ? =
GrassyAss
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Right or wrong, for better or worse, the one thing I have learned in my short time in the business is this: Mutual of Omaha's name alone can close a sale that otherwise might not close. It is as though I gain a whole other higher level of trust when I start showing them MoO materials.
I absolutely agree, and I always present that as what would probably be the better alternative "when that time comes." But for the 23 year old kid with enough foresight to purchase $250K term, it may be a bridge too far to his 53 year old self to see the benefit of $109K in reduced paid up. The $40K pot at the end of the 30 year rainbow is what catches his imagination, imho - that, and the fact that he feels as though this isn't just another insurance bill: This is his "retirement" savings, and his savings will pay for his insurance "without it costing him anything." Of course, that is not accurate, but it is how many of these young folks explain the product to me after I explain it to them.
And some insurance, in my book, is always better than no insurance. And if the possibility of outliving the term and getting all of the premiums back is what gets someone who would otherwise select "no insurance" instead select "some insurance," that is fine with me. His future family is protected.
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That!
On the 20 and 30 somethings. The two main ROP Term sales for me are $1,000,000 30yr term sale to a young professional termite. Or a small or SITerm ROP sale with the parents or grandparents as payor. Usually child riders. This sale is about more coverage while the grandkids are young, Final Expense later and it all being paid before they die. On the grandkids part of that sale is what happens to the grkids? You are going to need money to raise them.
Value
Amazing how things change.. Around 1980, I joined MoO... Went to their school in Miami.. Came back home and hit the filed..At that time, they pushed DI. After two weeks in the field, I turned all my supplies in. Everybody I talked to had had it and it didn't pay, or thier brother had it and it didn't pay, or their brother's friend had it and didn't pay. or their brother's best friend's third cousin.... well, you get the idea. MoO had a terrible reputation in this area..
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Amazing how things change.. Around 1980, I joined MoO... Went to their school in Miami.. Came back home and hit the filed..At that time, they pushed DI. After two weeks in the field, I turned all my supplies in. Everybody I talked to had had it and it didn't pay, or thier brother had it and it didn't pay, or their brother's friend had it and didn't pay. or their brother's best friend's third cousin.... well, you get the idea. MoO had a terrible reputation in this area..
Many people have a positive response to companies they have seen advertised on TV for their entire lives. And MOO was the sponsor of Wild Kingdom back in the 1960’s which many baby boomers watched as a kid.
The downside is that people don’t forget their name when they have a bad experience either. So you always have to test the waters when introducing well known companies. Many people have a positive response. Others have a passionately hateful response. You should never assume.
