Top Agent With Lincoln Heritage Wrote 70k in AP For July

[Jerard]

Jerard ;

Thanks for the explanation. I didn't know why there was no response and wasn't about to ask again so I reached out to my manager and got the answer. Even on a Sunday! However its nice to know the forum does work too.

YW. Even at my age there are moments I'm able to pay attention.

 

[jacobtn]

That's an awesome case. I love traditional life esp GUL. I wrote a last to die case on an annuity client who had over 1 mil in annuities a few months back. He was 85 and wife was 81. Since the majority was IRA money and were older, their RMDs were quite substantial. Since passing the estate to their children with lowest taxation was the goal, I recommended a last to die GUL where the RMDs would fund the premium.

They got a 300k tax free benefit for 32k a yr premium. Last to die gave them the most death benefit.

One of my Partner's producers has placed over $1 million per year for the last 5 years.

He placed one IUL case last year that was $240k in annual target premium. It is unreal the amount of commission that is placed on the Traditional Life Side.

It is not uncommon to see $15k/case in IUL target premium for those specializing in the professional community, Doctors, Lawyers, CPA's, Architech's, Engineers, etc.

 

[rousemark]

The most common clean sheet is about smoking status.

Yeah.. In the old days, it didn't matter too much.. If the company caught it at claim time, they simply paid the amount that the premium would have bought had they known the person was a smoker.. So, if the company didn't catch it, the family was better of, if the company did catch it, they received what they would have received had the app been correct.. a win, win for the client's family.

Now, it is a different story.. If they catch it in the contestable period, they can deny the claim and rescind the policy.. When you are sued, try proving the client did not tell you they were a smoker...

 

[senior-advisor-indiana]

That's an awesome case. I love traditional life esp GUL. I wrote a last to die case on an annuity client who had over 1 mil in annuities a few months back. He was 85 and wife was 81. Since the majority was IRA money and were older, their RMDs were quite substantial. Since passing the estate to their children with lowest taxation was the goal, I recommended a last to die GUL where the RMDs would fund the premium.

They got a 300k tax free benefit for 32k a yr premium. Last to die gave them the most death benefit.

Did you do this all over the phone?

 

[jacobtn]

Did you do this all over the phone?

No...... impossible funny thing I had tried to present this opportunity to him a couple years earlier but he didn't seem interested. Then he went to a estate planning seminar and called me wanting to meet.

 

[jlata1]

I've probably had at least 15 death claims over the years and 1/2 were contestable. With 5-15k policies many times it's not worth it for the client to sue but I can assure you when you get 50k or more more policies contested and denied the client sues most of the time and almost every time the insurance company settled out of court as the cost and potential bad publicity isn't worth it. As far as lieing about smoking it's very debatable wether a company can legally out right deny a claim as the company would still have issued the policy thus the could adjust the death claim to what the premium would have bought at smoker rates. The above is my past experience with death claims and could vary for others.

 

[senior-advisor-indiana]

No...... impossible funny thing I had tried to present this opportunity to him a couple years earlier but he didn't seem interested. Then he went to a estate planning seminar and called me wanting to meet.

I assume you sent the agent that did the seminar a $5 gift card...

 

[nfl72]

A LH guy does 70k in one month? Bull ****. A classic case of

The figures don't lie, the liars figure.

 

[MAlife]

this is awesome, just signed up. been looking for something like this.

 

[onefastpony]

this is awesome, just signed up. been looking for something like this.

You mean you just signed up with LH??? If you are basing your decision to sign with LH on what Obi says about ONE PRODUCER then you are a fool. But, I hope you live in the Tampa, FL area.