Thrivent Single Premium Whole Life

[JFBAgent]

Just had a client call me. Her daughter wants me to take a look at a Single Premium Whole Life with Thrivent she took out on her newborn baby boy about 2 years ago.

States she paid $1,000 lump sum and has a $25,000 Whole Life policy. SPWL is not an area I have done too much work in, does that sound right? Does having a guaranteed cash value of $12,000 at age 60 sound right?

 

[Franz Kafka]

Just had a client call me. Her daughter wants me to take a look at a Single Premium Whole Life with Thrivent she took out on her newborn baby boy about 2 years ago.

States she paid $1,000 lump sum and has a $25,000 Whole Life policy. SPWL is not an area I have done too much work in, does that sound right? Does having a guaranteed cash value of $12,000 at age 60 sound right?

Without checking with financial calculator, that sounds about 4-5% a year. Your client, she's a Lutheran, no? Thrivent is a sound conservative co IMO.

 

[Newby]

Just had a client call me. Her daughter wants me to take a look at a Single Premium Whole Life with Thrivent she took out on her newborn baby boy about 2 years ago.

States she paid $1,000 lump sum and has a $25,000 Whole Life policy. SPWL is not an area I have done too much work in, does that sound right? Does having a guaranteed cash value of $12,000 at age 60 sound right?

Sounds about right for a small child.

 

[AllyriaRedbird]

Newby and Franz Kafka,

I'm contracted with North American and Sagicor for the single premium life products, is Trivent another good alternative?

I haven't seen anything about them until I saw the ad here on the forum.

I have an idea that the Christian aspect would be appealing for some of my clients, and wonder if their Med Supp products are community rated?

Thanks for your replies.

 

[Newby]

Newby and Franz Kafka, I'm contracted with North American and Sagicor for the single premium life products, is Trivent another good alternative? I haven't seen anything about them until I saw the ad here on the forum. I have an idea that the Christian aspect would be appealing for some of my clients, and wonder if their Med Supp products are community rated? Thanks for your replies.

I don't think independents can sell anything but their Med Sups.

Plenty of Christian Based Fraternals to choose from though. KSKJ is a good one if they are in your state.

 

[goillini52]

Newby and Franz Kafka,

I'm contracted with North American and Sagicor for the single premium life products, is Trivent another good alternative?

I haven't seen anything about them until I saw the ad here on the forum.

I have an idea that the Christian aspect would be appealing for some of my clients, and wonder if their Med Supp products are community rated?

Thanks for your replies.

Franz might not respond. This is his last post from 4 years ago.

http://www.insurance-forums.net/for...sion/well-its-been-fun-t40937.html#post529928

 

[AllyriaRedbird]

Wow, Franz went down the rabbit hole. Yipes!

Ok, thanks for letting me know.

Single premium life seems to be a good solution for my senior clients with savings and lower fixed income now, and I need to be learning more about it.

Any particular links or info that helped you?

 

[Newby]

Wow, Franz went down the rabbit hole. Yipes! Ok, thanks for letting me know. Single premium life seems to be a good solution for my senior clients with savings and lower fixed income now, and I need to be learning more about it. Any particular links or info that helped you?

Just start out simple. Settlers, Oxford, RNA and others have simplified issue single pays that go down to small face amounts. Just play around with their quoters and you will understand the rates. Read the app and you will understand the underwriting for the most part.

If money is coming from an old policy you fill out one more form 1035 exchange.

Let me know if you need help. I've written thousands of single premiums (funeral planner).

Biggest difference in single premium and life pay is in the agent's mind. One of our (FexContracting.com) just wrote his first one last week with no prior knowledge of it. $48,000 premium and it was very simple and exactly what the lady wanted. Paid him over $7,000 too. Nice sale.

 

[Baseball7]

I've used Baltimore Life and Foresters SP options. That story sounds close to what Foresters offers, and there SPWL is par, so it'll grow for the child. Americo has a SP in some states to.

Great FE tool when you find 25,30 y/o small FA policies with 5K + in cash value.

 

[AllyriaRedbird]

Just start out simple. Settlers, Oxford, RNA and others have simplified issue single pays that go down to small face amounts. Just play around with their quoters and you will understand the rates. Read the app and you will understand the underwriting for the most part.

If money is coming from an old policy you fill out one more form 1035 exchange.

Let me know if you need help. I've written thousands of single premiums (funeral planner).

Biggest difference in single premium and life pay is in the agent's mind. One of our (FexContracting.com) just wrote his first one last week with no prior knowledge of it. $48,000 premium and it was very simple and exactly what the lady wanted. Paid him over $7,000 too. Nice sale.

Cool, thanks for the info Newby. I'll check out your site as well.

That type of sale-and commish-would make a helluva week for me!

----------

I know many of my med supp clients have the money stashed, languishing in a credit union somewhere, (ie: "at the Bahamas"-dollars lazing around earning squat in savings or CD's) just a matter of illustrating the benefits of putting it in a different account.

Single premium life will also work for my prospects on Tricare for life, champsVa, and VA disability that don't need my help on health products.

Do some single premiums offer living benefits to pay for a nursing home or pay out prior to death in the case of terminal illness?