The Biggest FE Policy Ever

[lsalmans]

I have a friend who works in the full underwriting business (new york life.) And taking 100-300 monthly checks is the norm for him, obviously these are big checks in the FE world, but we are also paid much differently. We work in a world of volume, which is fine by me.

Anyways, he was excited the other night because he did collect a $500 monthly for a whole life case, and I congratulated him, but It got me thinking. Whats the biggest FE policy you've ever seen sold premium wise?

I looked at a Foresters rates and a 35K for a 80 yr old smoker and its $691 a month. American cont. has some modified rates that go about $1200 monthly for 25K on a 75 yr old Male Smkr

Has anyone seen this big of FE policy sold?

I personally have only ever seen a policy issue at about $350 monthly.

I do apologize if this has been a thread already discussed from years past.

 

[Newby]

I've had people stack several $25,000 FE policies together to get larger amounts. I don't think any I've done has been more than $350 monthly all combined though.

 

[PaperHanger]

i was playing around running some quotes for rop term and decided to have some fun with big premiums that paid 300k at maturity...nice dreams...it's free insurance and you get tons of money at the end, just pay $1500 a month and you get it all back!!!...please, nobody pinch me!

 

[TPAAgent]

i was playing around running some quotes for rop term and decided to have some fun with big premiums that paid 300k at maturity...nice dreams...it's free insurance and you get tons of money at the end, just pay $1500 a month and you get it all back!!!...please, nobody pinch me!

Most companies cap you out at 2500 per policy advance .. so anything over that.....

 

[tins]

Biggest I ever wrote was a 50K fe policy...premium was $285.xx/ monthly.
For a Med Supp guy, that was a nice bonus.

 

[jdeasy]

Biggest FE simplified issue I've ever written was just under $300/mo. It's coming up on being on the books 2 years next month. I am really in his corner hoping he makes it.

I've written some term policies that were north of $400/mo. The biggest premium I ever had the chance to write was a fully underwritten whole life for $600/mo. It would have stuck like glue if issued. he was already paying $650/mo. and had been for 3 years. Talked to underwriting on the phone prior to writing it and they estimated a table 4. Even at a table 5 or 6 I would saved him money and it was in Ky so no new contestability. It was declined. That one hurt!! That was 4 years ago and the guy still has his $650/mo with the other company.

 

[coloradoseniormarket]

I miss those big premiums at times but then I was lucky if I wrote 4-5 policies a month or rolled a large IRA or 401K. You really had to work like a dog to find people, establish a need and your credibility, the insurance solution and get it through underwriting. I worked with business owners mainly through their benefits but HIPAA really made it hard to service the groups appropriately. My largest case was for a for a woman small business owner for a 1.2 million UL policy - my commission was 9,000 that month. Now I am lucky if I walk out of a house with a 60/mo premium. Just pump up the volume on the small stuff.

 

[Newby]

My wife had a walk-in at our office one day that bought a $15,000 annual premium term life policy. That was actually her first life insurance sale ever.

I had a lady call me last year that met me on an FE appointment several years earlier. She wanted to know if she could buy a large life insurance policy on her ex-husband without his knowledge. I thought it was a crank call at first. It turned into a $8,000 AP GUL sale.

 

[SWM]

Not FE, but my largest life case through American General was a UL, Option B, $500,000 planned premium for ten years. Target was 283,000. That was in December 09. The renewals are 1%. That was a good Christmas!

 

[GoCubsGo]

A decade ago I wrote a 15 yr ROP term with F&G at 414/mo and they rated him up to 684/mo which he took. Those bastards at NAA made a killing. ha