What's the Most You've Insured Something For?

[Guest]

Sadly I wasn't the agent, but yesterday I ran across a 67 year old man with a $30,000,000 10 year term policy. He was just getting his paramed exam done. Monthly premium was just under $24,000 a month.

I'm guessing his agent hasn't gotten much sleep the last week, waiting on it to issue.

 

[CHUMPS FROM OXFORD]

Many years ago, when I (and a lot of people) sent out bulk mail, I was targeting business owners in the "Million Dollar Directory." It was available at the local library and I made copies of pages and hand wrote the envelopes.

I used to send a term insurance letter with rates etc...

I sent one to George Steinbrenner. Why not? No, he didn't call or return the postage-paid envelope but another person did (I guess George or his secretary gave it to him). It led to a mighty fine sale.

 

[timmyl777]

I'm working a deal for a $10million GUL on a 72year old heir to an estate & the quote is for $278k AP or $4.6Million for total payout.She is deciding between the two. I will tell the result soon.

 

[Tahoe Ray]

I'm working a deal for a $10million GUL on a 72year old heir to an estate & the quote is for $278k AP or $4.6Million for total payout.She is deciding between the two. I will tell the result soon.

You could save her 800-900k if you do a life only SPIA (and can find a carrier or carriers to take it) instead of the single pay.

 

[tins]

I'm working a deal for a $10million GUL on a 72year old heir to an estate & the quote is for $278k AP or $4.6Million for total payout.She is deciding between the two. I will tell the result soon.

So, umm...is she single?

 

[timmyl777]

Lol, Yep....she is a widow.

 

[insuranceconceptscindy]

I was discussing crazy cases with a colleague of mine, a captive agent at a P&C agency. He said that he just lost a case for a semi-famous adult film star. It was fairly modest in face amount and premium. So, of course, my thinking was that it was lost due to an STD or lifestyle or something stereotypical. Nope- it was lost in underwriting due to multiple anal-reconstructive surgeries. Yes. Multiple. Apparently one or two too many for the carrier.
My eyes bugged out at his answer also!