Talking to a good friend in Knoxville the other day. College buddies who majored in insurance and went down different roads. He has always been a life guy, I am in health.
He was telling me about converting term on a client from 20 yrs back. Seems the client had a WL policy with a term rider. He has been on WP for a few years & the term was about to expire so he converted the term. Seems that Mass will waive the premiums on the converted term as well as the perm plan.
I don't sell much life and most of what I sell is term . . . always naked, no WP. That got me to thinking, am I missing something?
Frankly I don't have the patience or desire to argue the possibility of converting term somewhere down the road, but it got me to thinking. Do carriers routinely allow term conversion while the plan is on WP and then continue to waive the converted premium or is this out of the ordinary?
He was telling me about converting term on a client from 20 yrs back. Seems the client had a WL policy with a term rider. He has been on WP for a few years & the term was about to expire so he converted the term. Seems that Mass will waive the premiums on the converted term as well as the perm plan.
I don't sell much life and most of what I sell is term . . . always naked, no WP. That got me to thinking, am I missing something?
Frankly I don't have the patience or desire to argue the possibility of converting term somewhere down the road, but it got me to thinking. Do carriers routinely allow term conversion while the plan is on WP and then continue to waive the converted premium or is this out of the ordinary?