Vantis Guaranteed Issue Whole Life

[360]

It's been talked about quite a bit on the forum and we now have the ability to contract agents for the Guaranteed Issue product available through Vantis Life. The product is true GI for ages 50-80 and in most states you can go up to $20,000 in coverage. Year one and two pays ROP.

I've attached a rate sheet so that you can see how the pricing on the product is far superior to anything else on the market.

The contracting process is very slow, as in 3-4 weeks minimum, so if you write much FE I would recommend getting your contracting in right away.

To get contracted go to www.guaranteedissuewholelife.com.

 

[JRoot]

Is it true there is a 100% chargeback if a policy lapses in year 1 and a 50% chargeback if policy lapses in year 2?

 

[360]

Is it true there is a 100% chargeback if a policy lapses in year 1 and a 50% chargeback if policy lapses in year 2?

Yes, that is accurate. It's pretty common with GI for full chargebacks in year one. It's the only way to keep pricing in line as you can't refund premiums plus pay a commission and make it work as a carrier.

 

[Josh]

For anyone wondering about Brad who is offering this contract, I've worked with him for years and he's a great guy to do business with. He's very helpful and very honest.

 

[scotte]

Do you need to sell it face to face or will they allow mailed apps?

 

[Newby]

Is it true there is a 100% chargeback if a policy lapses in year 1 and a 50% chargeback if policy lapses in year 2?

Yes. And there is 100% chance of making nothing if you walk away from these cases.

Just put the money in your reserve account for 2 years. Done.

If an agent can't budget himself and doesn't put reserve money back in case of chargebacks or other business expenses, I wouldn't sell this.

For everyone else, it's a good opportunity.

Also it pays ROP+5% first 24 months.

 

[360]

Do you need to sell it face to face or will they allow mailed apps?

Mailed apps are fine.

 

[TexasAgent]

Interested in contracting. Will you please send your contact info as I can't PM you. Thanks.

 

[360]

No problem, and my email and phone number is on the rate guide that can be downloaded above. I used to post it in my signature line but it got picked up by ever vendor north of the border.

 

[0b1kanobee]

Is there a plan out there similar to this with rates in the same ballpark because these Vantis rates are good IMO which will do higher face amounts?

I'm looking more towards 50k in face amount for a couple of prospects.

Americo and Presidential rates are too high and make no monetary sense to me for a few cases I have.