Term with ROP
- Thread starter johndf
- Start date
- 24,978
Like other Life products, it depends on what their wants and needs are.
First, there are very few ROPTerm plans out there compared to a few years ago. With the rate increases the market has shifted for me on that a little.
Two plans that serve different but similar needs are:
Cincinnati Life. I haven't written them in a few years so things may have changed. Low rates and a good Reduced Paid Up option at the end. However, underwriting can be tight.
Another RPU option company but with about 4 tables built in is United Home Life. Eapp, quick turnaround, think term version of SIWL. Reduced Paid Up amount after 20 years many times slays a FE plan for the under 60 normal fluffy DM and HBP crowd. Much higher coverage during the family and working years then a RPU for final expenses.
Oh, another ROP that is super easy and I find the underwriting to be lenient is Assurity, they go to 30 years and have a ton of riders you can add.
ValeRosso
Guru
- 523
Americo
- 24,978
Maybe 20 years ago. But with Maybe a tiny niche they are just to high for the underwriting.
- 379
Illinois Mutual shows up a lot when I run Compulife.
They seem to be one of the least expensive.
Don't have any info on their underwriting, or commissions.
They seem to be one of the least expensive.
Don't have any info on their underwriting, or commissions.
Underwriting decent, commissions bad.
Wino covered most of the bases that you should look for.
Assurity, Illinois Mutual, and Cincy Life are all good options and I'll normally quote them all doing ROP and then depending on what the client is really looking for and underwriting, we'll go with the best option.
Omaha and Americo are both stupid expensive in most cases.
AAA has one and is how I end up writing some of these in the first place (it gets recommended, the person shops, and the carriers I mentioned are normally better options.)
The other is showing an ROP rider on a DI policy. People don't normally take it b/c the premiums are already so high but I Columbo in a "these are much more affordable for your life insurance" and get some that way too.
Overall, it's not a big product niche but they're normally nice cases vs. traditional term.
- 24,978
- 24,978
Second. Mine are people that can spend a little more for more.
Very sticky product. Which is one of the things that hurt it.
One of the reasons 20 yr ROP cost more than 30 yr ROP.
BillBateman
New Member
- 18
I'm partial to both Illinois Mutual and Assurity Life. We recruit brokers for both so understand that bias on my part. Having said that, competitive rates for the ROP and the base policy in both cases.
What do you pay for IM ROP term?
