Joshtrades12
New Member
- 4
Hey I’m a new life agent. Wondering if anyone is successfully selling life Ins. To younger people on there parents.
Writing term on parents
- Thread starter Joshtrades12
- Start date
- 5,778
First, tell the younger people to get off their parents...
Older parents? Young children? Babies?
Sorry but I'm old and have trouble with English at times... can you rephrase your question?
Older parents? Young children? Babies?
Sorry but I'm old and have trouble with English at times... can you rephrase your question?
- 24,964
20 year old buying term on their 40 year old parents? Not much.
30-40 year old on their 50-60 parents yeah some on term much more on GUL and WL.
50-60s yr olds term on their 70-80 yr old parents? No. Permanent coverage yes, regularly.
I wouldn't even want to guess at those premiums.
- 24,964
Price, risk, and age are relative.,
- 16,880
Why term specifically? Usually adult kids buy whole-life on their parents so it will actually pay them a benefit someday.
- 2,261
Younger adult children may be paying for WL policies for their parents when they see a need but most parents don't like to have that talk with their children. I have also seen the direct opposite where the adult children cancel policies their parents are paying for because they did not know why the policy was in place, were too afraid to ask, and only looked at it as an expense. 'Put You In The Ground Insurance' is very handy to have when the time comes and the funeral home will accept becoming the beneficiary to pay for the expense of burial
Well that rules out term because its seldom in effect at time of death due to premium increases in the latter years.
- 2,261
The first line of my answer says WL. Buying term for a parent would make little sense. Buying a graded issue or immediate issue WL policy makes plenty of sense for burial insurance. Purchasing anything above burial insurance on a parent seems like a treasure hunt
- 24,964
GUL may make more sense for an adult to buy on a standard-issue parent. Or WL. It all depends on the circumstances. No cookie-cutter response or product. Or, say a 20 year term with a RdPu option. Unless the agent is a single product agent. Like a Primerica Term, Final Expense or Pre Need agent. Then sell what you got. Or refer them to a Life agent.
How so? $20,000 will take care of the average final expense around here. Exception being some cultural requirements that can be two or three times that. How about transition money needs, Survivor income needs for things like loss of pension or SS income? Wouldn't that be a final expense? and arguably more important than funeral costs?
Similar threads
