Whole Life Alternative to Final Expense

[jboussea]

Do you guys have a few go to whole life product that you use instead of simplified issue for certain customers. Obviously I m thinking something that has a low minimum face amount ..and something that preferably is participating whole life.


Thanks

 

[AboutThatLife]

I like Forester's for the small cases but a lot of people don't. They will go from $25K.

Assurity is probably the best out of the mutuals in terms of benefits offered. They will go as low as $15K. They offer good flexibility in policy design compared to Forester's.

Mass Mutual is good for people with health problems who have a lot of money, or people in general with more cashflow because they will benefit more from the dividends. They can afford to buy the separate CI/DI policies. They also have a good LTC rider for people who can afford to do that.

If you aren't paying at least $3K a year into your whole life policy and you are not 0-6yrs old, then you aren't really going to be able to build a cash value that will have much use. With life insurance, the money has to be there in the first place.

 

[jdeasy]

Do you guys have a few go to whole life product that you use instead of simplified issue for certain customers. Obviously I m thinking something that has a low minimum face amount ..and something that preferably is participating whole life.


Thanks

I use RNA quite a bit but their minimum is $25K face on ages 18-85. They offer a 20 pay and a paid up at 65.

I also use KSKJ quite a bit. They offer a single pay, 10 pay and 20 pay. Face as low as $10K.

Also Trinity. They will do a face of $10K and they have a single pay and 10 pay options.

RNA and KSKJ are participating. RNA says to not expect dividends.

 

[jboussea]

I like Forester's for the small cases but a lot of people don't. They will go from $25K.

Assurity is probably the best out of the mutuals in terms of benefits offered. They will go as low as $15K. They offer good flexibility in policy design compared to Forester's.

Mass Mutual is good for people with health problems who have a lot of money, or people in general with more cashflow because they will benefit more from the dividends. They can afford to buy the separate CI/DI policies. They also have a good LTC rider for people who can afford to do that.

If you aren't paying at least $3K a year into your whole life policy and you are not 0-6yrs old, then you aren't really going to be able to build a cash value that will have much use. With life insurance, the money has to be there in the first place.

Great input.. I'm not trying to break even with the cash value or anything but have something better than typical fe's ..I will look into assurity

 

[Allines]

Check out illinois mutual.all par WL 10,20,age65, min was 5k but maybe 10now. Fullly underwritten but good people to work with

 

[Newby]

Seems like we just had this same thread last week?

I'm partial to Lafayette Life and KSKJ.

Lafayette goes down to $5,000 and is a participating policy that pays dividends. I've had very good experience with them on fully underwritten cases.

KSKJ is also participating and great to work with. They don't go down as low but you usually don't writ fully underwritten on those small of cases anyway.

 

[jboussea]

Seems like we just had this same thread last week?

I'm partial to Lafayette Life and KSKJ.

Lafayette goes down to $5,000 and is a participating policy that pays dividends. I've had very good experience with them on fully underwritten cases.

KSKJ is also participating and great to work with. They don't go down as low but you usually don't writ fully underwritten on those small of cases anyway.

Thanks a lot ... I don't have Lafayette but I might think about adding it since they have some attractive products. Kskj is not available in MA apparently

 

[argar5]

Do you guys have a few go to whole life product that you use instead of simplified issue for certain customers. Obviously I m thinking something that has a low minimum face amount ..and something that preferably is participating whole life. Thanks

I like CSA they screwed up when they got rid of the final expense but they have a good whole life and term product. I recently sold a 37-year-old male $250,000.20 year term for $32 a month which isn't too bad. Non smoker.

 

[bboman23]

I like CSA they screwed up when they got rid of the final expense but they have a good whole life and term product. I recently sold a 37-year-old male $250,000.20 year term for $32 a month which isn't too bad. Non smoker.

He could have got 250k 20 year for 16.63 with MOO or 19 with trans.

 

[jdeasy]

I forgot to mention Grange. I have not used their FU product or even looked at the rates. I have heard from some other agents that it's a decent product.