Who are the clients for Whole Life?

[shooter]

Lots of people in the forum seem to sale Final Expense WL.
On the other end of the WL spectrum are the over funded Mutual Companies
life products for the upper middle class and above.

Is there a market in-between for WL at the $100 per month premium clients?
Say a ten pay on a child or grandchild? Fully underwritten?
Adult markets for death benefit, not using the cash value as your personal bank
or to borrow out to supplement retirement?

Thanks,
Shooter

 

[Tahoe Ray]

Lots of people in the forum seem to sale Final Expense WL.
On the other end of the WL spectrum are the over funded Mutual Companies
life products for the upper middle class and above.

Is there a market in-between for WL at the $100 per month premium clients?
Say a ten pay on a child or grandchild? Fully underwritten?
Adult markets for death benefit, not using the cash value as your personal bank
or to borrow out to supplement retirement?

Thanks,
Shooter

Non par WL products with larger faces (like Nationwide and Cincinnati Life) are products that fill these niches.

Adult market pure d/b I normally will just write GUL, though.

 

[DHK]

On the other end of the WL spectrum are the over funded Mutual Companies
life products for the upper middle class and above.

Why are you limiting this to just "upper middle class and above"?

Of course, we might need to define what you believe is upper middle class, but if you explore the problem long enough, the solution may just sell itself.

The sale isn't made when they understand the product.

The sale is made when the problem is understood.

 

[walthamny]

Entry level into FE market is much easier you can be up and running in 2 months or less. The Upper class and higher income cash value life insurance is not that easy to learn. It is also facing competition for all these young agents learning a single IUL illustration and pitching it for everyone. So you are bound to see less agents selling cash value life insurance. Next year, the number of agents entering to sell FE should go down as aged leads will disappear due to FTC rules.

 

[RustyBill]

The sale isn't made when they understand the product.

The sale is made when the problem is understood.

David dropping sold gold this morning.

 

[scagnt83]

It is not all overfunded either. The majority of WL sold at major mutuals uses a very small amount of PUA premium... if any at all. Meaning most are focused on DB.

A permanent death benefit can be a very valuable financial tool.

Especially an increasing permanent DB.

Legacy money is much better served in Life Insurance.
A properly set up WL can allow for much higher future premiums, regardless of health. Allowing the DB to be increased much higher, based on financial need in the future.

And remember its an INCREASING permanent Death Benefit.

Even more valuable of a tool.

Especially an increasing permanent death benefit, that pays you more in Cash Value increase than you pay in Premiums by year 8.

That has cash value equal to the amount of premium you paid by year 15 or 20.

Creating a tax free bucket of emergency funds with a bond like return.

Gives you the option to purchase more policies in the future regardless of your health.

Gives your beneficiary the option to purchase a policy regardless of their health upon receipt of the DB.

Can pay for LTC expenses.

Oh, and did I mention the increasing DB?

That is the value of Dividend paying WL from a well rated mutual carrier.

 

[MedicareMutt]

Yesterday don't mean shit.

 

[DHK]

Are you okay?

 

[MedicareMutt]

She's a healthy 76 and wants some whole life ... in NE Ohio ... what carrier ... I'm thinking M.O.O ...

 

[DHK]

Ask in the final expense forum.

Why? Because you're not necessarily solving for a specific need/problem and the age. You didn't list a premium, only "wants some whole life."