Universal Life Replacment Tips

[gordon112]

Wino comes high on the recommendation list in this forum for helping in cases like this.

I would follow what he says to the T...except for his acronyms that I don't always get... but I am slow when it comes to those.

 

[WinoBlues]

Wino comes high on the recommendation list in this forum for helping in cases like this.

I would follow what he says to the T...except for his acronyms that I don't always get... but I am slow when it comes to those.

You must not have an old drunken uncle.

 

[TPAAgent]

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.

I been in the business for 15 years- BA in finance and a minor in economics- studied and passed my CFP exam in 1998. I think I know a thing or two about this business- I've seen my fair share of UL's and replaced many of them when clients were upside down on them, If there were one position a UL might make sense is estate planing, and that's still debatable- I don't know of any FE agent dealing with high net worth clients-

If you tell yourself something many times over you end up believing it-

I said it was an term product wrapped with a WL blanket.. was I wrong?

I said a UL has no "living benefits" Was I wrong?

I said it builds little to no CV.. Was I wrong?

I said it uses those CV's to offeset the annual rate increases.. was I wrong?

I said if you miss a pmt by one day a client is in a very dangerous position.. was I wrong?

You old debit agents from the 80's that went around churning WL clients, and I don't mean you were deceptive, you were just pawns to the insurance companies that created this junk, and you get upset when someone calls it what it is..

It failed... Why do you think so many companies pulled the plug on it? I could name many companies that pulled that product off the shelf-

You need to educate yourself.

I have plenty of post graduate studies.

I am just as good at replacing over priced FE products, as well.

Nothing wrong with that

 

[Tahoe Ray]

I said a UL has no "living benefits" Was I wrong?

A lot of the UL that I write offers living benefits. Chronic illness/LTC specifically...I'm not sure if that's what you were referencing though.

 

[WinoBlues]

>>I been in the business for 15 years- ....

That may explain some of it. I did not know as much as I do now when I was new also.

>>BA in finance and a minor in economics



>>I don't know of any FE agent dealing with high net worth clients...

? I am not an FE agent. I am a Life Insurance agent. But, I got a couple. They call me to sell them and their family. And you are the one that limited her to FE products. I wonder what her cash values would have looked like with a traditional whole life policy. (not a certificate)

>>If you tell yourself something many times over you end up believing it- ...

Yup!

>>You old debit agents from the 80's ....you were just pawns to the insurance companies that created this junk, and you get upset when someone calls it what it is...

Junior, I am no one's pawn. That is something that someone says that does not take responsibility for their own actions. I am full grown.

>>I said if you miss a pmt by one day a client is in a very dangerous position.. was I wrong?

You answer that one.
One of the poster here took me up on me sending a redaxed copy of one of my client's case I have been working on. Short version is. $175,000.00 GUL @ $750mo 5 years ago Guaranteed to age 110. Last year missed or late on a couple payments. Still guaranteed. Reduced the face to $100,000.00 @ $430mo Still guaranteed. This month borrowed out most of the cash values, death benefit minus loan, still guaranteed.

>>I have plenty of post graduate studies.

Wow, impressive. So do many of my clients.

>>>>BA in finance and a minor in economics- studied and passed my CFP exam in 1998

And yet, you sell her two FE products.

What is with the senior hate? Did some old dude steal your girlfriend or something?

I'm out. You win. You da man. Time for my sponge bath and a nap.

I been in the business for 15 years- BA in finance and a minor in economics- studied and passed my CFP exam in 1998. I think I know a thing or two about this business- I've seen my fair share of UL's and replaced many of them when clients were upside down on them, If there were one position a UL might make sense is estate planing, and that's still debatable- I don't know of any FE agent dealing with high net worth clients-

If you tell yourself something many times over you end up believing it-

I said it was an term product wrapped with a WL blanket.. was I wrong?

I said a UL has no "living benefits" Was I wrong?

I said it builds little to no CV.. Was I wrong?

I said it uses those CV's to offeset the annual rate increases.. was I wrong?

I said if you miss a pmt by one day a client is in a very dangerous position.. was I wrong?

You old debit agents from the 80's that went around churning WL clients, and I don't mean you were deceptive, you were just pawns to the insurance companies that created this junk, and you get upset when someone calls it what it is..

It failed... Why do you think so many companies pulled the plug on it? I could name many companies that pulled that product off the shelf-



I have plenty of post graduate studies.



Nothing wrong with that

 

[nfl72]

I met with the guy again today and took a Royal Neibhbors whole life application after getting quotes from RN. He likes everything and the app looked great except for one thing.

He is 71 and back in 1991 he was got a felony conviction for Criminal sexual conduct. His wife did tel me it was not a child so he is not a pedophile!

RN told me they will not write any business on people with Felonies.

Who else would be good for this guy, Whole life . He wants 80K of face value.

In 5 years I have done two whole life policies and 2 terms. This policy is exactly why I do so little. They can be a real pain in the arce