- 710
I sold Deposit Term for years with Beneficial Standard Life out of Los Angeles. It was bought by Conseco who fired all the agents.
The client pays a "deposit" and gets a discount on the 10-year term price. At the end of 10 yrs, the deposit is returned to the insured with interest.
The only problem I had was it was only a 10-yr term. No 15 yr, 20-yr or 30 yr term plans.
Deposit term was terminated with the advent of univ. life.
I always wondered why insurance companies didn't offer a level term plan with an annuity rider. So simple. Of course, the total commissions would not be as great as univ. life because of the annuity premiums.
The client pays a "deposit" and gets a discount on the 10-year term price. At the end of 10 yrs, the deposit is returned to the insured with interest.
The only problem I had was it was only a 10-yr term. No 15 yr, 20-yr or 30 yr term plans.
Deposit term was terminated with the advent of univ. life.
I always wondered why insurance companies didn't offer a level term plan with an annuity rider. So simple. Of course, the total commissions would not be as great as univ. life because of the annuity premiums.
