Universal Life Replacment Tips

[Newby]

It doesn't matter how well a policy performs. It doesn't matter if you have 5-times your premium in cash value. It doesn't matter if it's a great deal. Life insurance is NOT an investment (other than variable life).

To be an investment it has to put your cash at risk of losing money. If there is no risk in hopes of a bigger gain, it's not an investment. And if it was an investment MOST of us would not be licensed to sell it.

The public throws the word investment around incorrectly but they don't know any better. But that should be basic, basic knowledge to all life agents. Life insurance (other than variable which is invested in the stock market) is not an investment.

CD's are not investments.

Fixed annuities are not investments.

And indexed annuities are definitely not investments.

Class dismissed.

 

[WinoBlues]

I am a death benefit agent. Cash values are down the list for me. Especially in this age group.

Am curious why you used two policies.

It's just not sinking in with you.. I get it.. you're an old school agent from the 80's .. i get all that... You're that typical liberal.. "you're" assuming I live another 40 years.. what if I die next year? Then whats my ROI ?

And 50% investment is not a terrible return.. I think you fell outta your high chair as an infant and banged your coconut

So what you're telling me is that if I invest 2 million dollars in my lifetime and get a 50% ROI that's a terrible return?

You're either stupid or drunk
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Then beat it old man.. I've given you several facts why a WL has more benefits than a junk GUL and all you do is counter with assumptions.. you haven't given me one concrete fact where a GUL is a better product than a WL.. Not one

Go play bingo, take a cruise, or retire already

 

[Indy007]

Actually, I'm a conservative republican, but that's neither here nor there. I'm also not a "old school agent from the 80's", I've been doing insurance since 1/2008. If "you're thinking you will die next year, buy term, it's cheaper. I would say a 50% return on investment over your lifetime as a bad return, because it is. Who are you fooling? Definitely not your higher net worth clients, as they surely will see right through you and how you think.

Go ahead, keep doing unsuitable replacements, and I'll keep doing it my way. I bet I'll retire from this business one day (god willing), and if you keep doing what you do, you likely won't be licensed. I'm done buddy, hope I run into your clients.

It's just not sinking in with you.. I get it.. you're an old school agent from the 80's .. i get all that... You're that typical liberal.. "you're" assuming I live another 40 years.. what if I die next year? Then whats my ROI ?

And 50% investment is not a terrible return.. I think you fell outta your high chair as an infant and banged your coconut

So what you're telling me is that if I invest 2 million dollars in my lifetime and get a 50% ROI that's a terrible return?

You're either stupid or drunk
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Then beat it old man.. I've given you several facts why a WL has more benefits than a junk GUL and all you do is counter with assumptions.. you haven't given me one concrete fact where a GUL is a better product than a WL.. Not one

Go play bingo, take a cruise, or retire already

 

[SportsNut]

Then beat it old man.. I've given you several facts why a WL has more benefits than a junk GUL and all you do is counter with assumptions.. you haven't given me one concrete fact where a GUL is a better product than a WL.. Not one

Go play bingo, take a cruise, or retire already

My, my... you've got such BIG keyboard muscles.

From the look at the clock I'd say some chemical infusion could be at play here too. Liquid or powder? Either way, a rather low, telling post for you, I'd say. Most people aren't accustomed to showing their arse in public but you seem to be quite proficient at it.

 

[TPAAgent]

To be an investment it has to put your cash at risk of losing money.

If one of these old debit agents from the 80's buys an old record player off of ebay with no refund "as is" to spin their Perry Como records and it doesn't work and they are now out $50, that doesn't make that purchase an investment. If after clicking "Buy it now" isn't that putting their cash at "risk"??

I dont consider that ebay purchase an investment, sorry man

I don't buy that theory

One of the definitions of investments is:

"A thing that is worth buying because it may be profitable or useful in the future"

Based off my life expectancy and family history I will be dead in the next 40 years- In the next 40 years I will have paid in total premiums far less than the face amount of my WL

 

[Newby]

If one of these old debit agents from the 80's buys an old record player off of ebay with no refund "as is" to spin their Perry Como records and it doesn't work and they are now out $50, that doesn't make that purchase an investment. If after clicking "Buy it now" isn't that putting their cash at "risk"??

I dont consider that ebay purchase an investment, sorry man

I don't buy that theory

One of the definitions of investments is:

"A thing that is worth buying because it may be profitable or useful in the future"

Based off my life expectancy and family history I will be dead in the next 40 years- In the next 40 years I will have paid in total premiums far less than the face amount of my WL

I think you need to run your definition of investment past the Department of insurance and FINRA.

There are very definite rules on how those in the financial business can define it.

That word will get you in more trouble than any other. And it has nothing to do with whether someone made money or got a good deal or not. It has everything to do with your principle at risk of loss.

 

[TPAAgent]

Am curious why you used two policies.

Client has a few health issues- nothing major.. she didnt want to take an exam.. wanted something simple and 50k of WL

Most of my companies max out at 25-35k, with the exception of the new monumnetal solutions product just launched

I ran several different variations of 25, 15, 30, 20 etc until I found the two policies that equal 50k and were at the lowest rates for my client-

She and her husband were very pleased with my service.. in fact we all joined hands in a circle and sang "Kumbaya"
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I think you need to run your definition of investment past the Department of insurance and FINRA.

Thanks, but I'll pass, I don't need the Dept of Insurance or FINRA to tell me what the the word investment means, I can read and comprehend the definition of the word clearly.

That word will get you in more trouble than any other.

I'd agree there, but in 15 years in the insurance business I've never once utter the word investment to any of my clients-

And it has nothing to do with whether someone made money or got a good deal or not.

I'd disagree there..

It has everything to do with your principle at risk of loss.

No where in the legal definition of the word investment does it mention principle at risk of loss.. However I do agree that it should.. Buying a $1 scratch off ticket is an example-

However, it only states that it is an outlay of money in hopes of a profit in the future...

Problem is, you get a bunch of punch drunk lawyers and crusty old investment mgrs from the good ole boy network that get together and drum up all kinds of stupid interpretations of the word.. it becomes paralysis by analysis...

By definition, my purchase of my WL policy is considered an investment, now the Dept on Ins and FINRA can stomp their feet and pout all they want and argue it... It's simply not going to change my mind

 

[WinoBlues]

Client has a few health issues- nothing major.. she didnt want to take an exam.. wanted something simple and 50k of WL

Most of my companies max out at 25-35k, with the exception of the new monumnetal solutions product just launched

I ran several different variations of 25, 15, 30, 20 etc until I found the two policies that equal 50k and were at the lowest rates for my client-

She and her husband were very pleased with my service.. in fact we all joined hands in a circle and sang "Kumbaya"
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With all the "guaranteed" thrown around I assume neither of these were a fraternal.

I am not arguing the contestable replacement at a higher premium. My argument was the use of false hoods, intentional or due to lack of knowledge, regarding UL and GUL.

Am I an old guy? Yup! An old guy that has sold a crap load of UL, a crap load of Term a crap load of Whole Life, A crap load of GUL and a fair amount of SIWL. I know these product.

What you said about ULs in general is wrong. Assuming you were just repeating what someone else told you or you read somewhere. You need to educate yourself.

I replace a lot of ULs. I am very good at it. However, I know what I am talking about. You do not need to use scary words and phrases. BTW, I am just as good at replacing over priced FE products, as well.

Old Dude Out.

 

[nfl72]

"I have a question which you may not be able to answer. Why did he purchase two policies at the same time? Why not just one $60k policy?"


He purchased one in July of last year and the other one was purchased in late August. when I asked him why he was a little confused. It sounded like he applied for a differetn policy at first and was turned down. not sure though

 

[WinoBlues]

"I have a question which you may not be able to answer. Why did he purchase two policies at the same time? Why not just one $60k policy?"


He purchased one in July of last year and the other one was purchased in late August. when I asked him why he was a little confused. It sounded like he applied for a differetn policy at first and was turned down. not sure though

Try to get copies or pics of the last annual reports. Those will help you replace them and poison the water to keep the Bankers guys from getting back in. They will show that these dips sold him something that was never going to last his life time.