Term That Increases Every 5 Years

[RonRoberts]

I was at a 55 year old man's home yesterday and got to talking with his 84 year old mother. She told me that she is holding a $15,000 Foresters policy. She let me know real quick that she was not interested in any more insurance but that she had had a policy at one time that every 5 years the premiums increased so she cancelled it and that is when she got the Foresters. She could not remember the name of the company.

Does anyone know of companies that have this type of term product where the premiums increase every 5 years?

Is this something that you see very often in the final expense market?

Thanks,

Ron

 

[jdeasy]

I was at a 55 year old man's home yesterday and got to talking with his 84 year old mother. She told me that she is holding a $15,000 Foresters policy. She let me know real quick that she was not interested in any more insurance but that she had had a policy at one time that every 5 years the premiums increased so she cancelled it and that is when she got the Foresters. She could not remember the name of the company.

Does anyone know of companies that have this type of term product where the premiums increase every 5 years?

Is this something that you see very often in the final expense market?

Thanks,

Ron

AARP crap increases in 5 year age bands. Globe crap increases every 5 years. Somme increase annually after the first 5 years. Some increase after the first 10 years.

To answer your question, yes, I run into that stuff all the time. I love it when I do.

 

[elitemind]

AARP crap increases in 5 year age bands. Globe crap increases every 5 years. Somme increase annually after the first 5 years. Some increase after the first 10 years.

To naswer your question, yes, I run into that stuff all the time. I love it when I do.

That is true. I just lost a sale to AARP today, but the client didn't have a checking or saving. They were a chargeback waiting to happen.

 

[RonRoberts]

I have a 58 year man that has AARP that I spoke to last night. It was a lead from a Monumental drop. He is extremely hesitant to meet with me. I should have door knocked him but how do you know? He was very nice but told me he didn't really know why he sent the card back since he had insurance already. I planted the AARP premium increase then drop you at 80 bug in his ear. I will either call him back next week or door knock him.

 

[WinoBlues]

I was at a 55 year old man's home yesterday and got to talking with his 84 year old mother. She told me that she is holding a $15,000 Foresters policy. She let me know real quick that she was not interested in any more insurance but that she had had a policy at one time that every 5 years the premiums increased so she cancelled it and that is when she got the Foresters. She could not remember the name of the company.

Does anyone know of companies that have this type of term product where the premiums increase every 5 years?

Is this something that you see very often in the final expense market?

Thanks,

Ron

JNL sold a bunch of that at one time. I believe it was convertible forever

 

[annuityseller]

Allstate has a boat load of 5 year renewable term on the books! it's like a garden plant customers then pick them off to make easy money in the future for perm. insurance sales!!!

 

[WinoBlues]

Allstate has a boat load of 5 year renewable term on the books! it's like a garden plant customers then pick them off to make easy money in the future for perm. insurance sales!!!

Or conversion to LBL.

Also NYL sold 5 year term.

 

[Fisher]

State Farm too. I've run across that.

 

[jacobtn]

I ran across a annual renewable term this week which was written by farm bureau. The lady at the the home office said while in her house (on speaker phone) that she would not keep it and she didnt recommend ART for FE. She sold the foresters app for me haha.