TERM FE for Seniors

[myinsurebiz]

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

$50,000 30 year term with ROP - 40 y/o Male STD NT

MoO (SI to Table 4) = $41.90 - ROP after 30 = $15084 RPU after 30 = $27,741

Assurity (NM to Table 4) = $28.58 - ROP after 30 = $8,189 RPU after 30 = $15,217

 

[myinsurebiz]

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

MoO has no 20 term ROP for 60 y/o

Assurity is $125.93

 

[WinoBlues]

MoO has no 20 term ROP for 60 y/o

Assurity is $125.93

What they walk away with at the end of of the 20 years?

RdPdUp? =

 

[myinsurebiz]

What they walk away with at the end of of the 20 years?

RdPdUp? =

^ ^ ^ posted it above but on 40 y/o since MoO has no 20 rop for a 60 y/o. Assurity is cheaper . . .

" $50,000 30 year term with ROP - 40 y/o Male STD NT

MoO (SI to Table 4) = $41.90 - ROP after 30 = $15084 RPU after 30 = $27,741

Assurity (NM to Table 4) = $28.58 - ROP after 30 = $8,189 RPU after 30 = $15,217 "

But - seems UHL has 20 rop for a 60 y/o - but, have to get rates 2moro.

 

[Abrasax]

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

I like UHL, but their term has always seemed too high priced to sell competitively. I can only imagine what the ROP does to the premium.

 

[Abrasax]

I do not write the ROP but I have written the non ROP with the Critical and chronic illness riders.

These are a much better value in my opinion.

 

[mudhound]

Dis Like term for older folks! Bad things happen

 

[rousemark]

I like UHL, but their term has always seemed too high priced to sell competitively. I can only imagine what the ROP does to the premium.

The ROP will put it at about 60%-70% of a WL premium.. Don't sell the ROP.. Sell the Reduced Paid UP as theirs is very strong. CUL used to have a very strong ROP on their term but apparently it was too rich as they pulled it from the market..

 

[DayTimer]

Dis Like term for older folks! Bad things happen

It really depends on the money need that the insurance is intended to cover. Term makes sense for the 65 year old with a 15 year mortgage who wants it paid off for his wife if he predeceases the mortgage. If the money need is funeral costs, then a whole life plan is best. I know you are not one of them, but too many FE Agents/Agency Owners sound just like A.L. Willimas/Primerica the way they bash term for seniors and assert that only whole life should be sold to seniors. The money need and overall financial objectives of the proposed insured/beneficiary ought to govern the insurance solution, not age alone.

 

[rousemark]

It really depends on the money need that the insurance is intended to cover. Term makes sense for the 65 year old with a 15 year mortgage who wants it paid off for his wife if he predeceases the mortgage. If the money need is funeral costs, then a whole life plan is best. I know you are not one of them, but too many FE Agents/Agency Owners sound just like A.L. Willimas/Primerica the way they bash term for seniors and assert that only whole life should be sold to seniors. The money need and overall financial objectives of the proposed insured/beneficiary ought to govern the insurance solution, not age alone.

I stated there is a use for term at senior ages but doesn't really make sense in most cases for FE. FE is a permanent need and you should not try to solve permanent problems with temporary solutions..