$1 Million Whole Life?

[MissV]

A newly licensed life agent was asked by her doctor for a $1.5 million whole life policy and has other colleagues also interested. He's 27 years old. We're having trouble in NC finding a carrier. Her Old Republic colleague says she should give that lead to him to handle. I told her absolutely not (I've been licensed over 25 years).

I told her that she only has to get licensed with a credible carrier and submit the application for the potential insured. Any ideas on finding a carrier?

 

[smokin goose]

Her Old Republic colleague must be a real doosh bag. Props to you for helping her out.

There are some very knowledgable folks here. Just be patient and I'm sure someone will help.

 

[STIBROKER]

A newly licensed life agent was asked by her doctor for a $1.5 million whole life policy and has other colleagues also interested. He's 27 years old. We're having trouble in NC finding a carrier. Her Old Republic colleague says she should give that lead to him to handle. I told her absolutely not (I've been licensed over 25 years).

I told her that she only has to get licensed with a credible carrier and submit the application for the potential insured. Any ideas on finding a carrier?

 

[Tahoe Ray]

A newly licensed life agent was asked by her doctor for a $1.5 million whole life policy and has other colleagues also interested. He's 27 years old. We're having trouble in NC finding a carrier. Her Old Republic colleague says she should give that lead to him to handle. I told her absolutely not (I've been licensed over 25 years).

I told her that she only has to get licensed with a credible carrier and submit the application for the potential insured. Any ideas on finding a carrier?

There are a number of great carriers listed in this thread:

http://www.insurance-forums.net/forum/life-insurance-forum/whole-life-t58511.html

Why are you having trouble finding a company to write this? It sounds like a pretty standard case.

 

[deadhead]

I'll be more than happy to help

 

[TwiLight]

First off, a doctors group is not going to be interested in low priced WL plans. Cash accumulations and income options in later years will be a must along with solid ratings and COMDEX scores.

You may also want to look at solid Index UL plans for the younger doctors. Solid guarantees and cash buildup.

We can help you with the following companies that I would recommend to look at:

• American National / ANICO
• Genworth
• ING
• Lafayette Life
• Lincoln Financial
• MetLife
• Mutual Trust Life
• National Life Group / LSW
• North American / Midland National
• Prudential

These would be a start to begin with and gather quotes. You need to work with an experienced agent or upline to help with case design and presentation.

 

[VolAgent]

First off, a doctors group is not going to be interested in low priced WL plans. Cash accumulations and income options in later years will be a must along with solid ratings and COMDEX scores.

You may also want to look at solid Index UL plans for the younger doctors. Solid guarantees and cash buildup.

We can help you with the following companies that I would recommend to look at:

• American National / ANICO
• Genworth
• ING
• Lafayette Life
• Lincoln Financial
• MetLife
• Mutual Trust Life
• National Life Group / LSW
• North American / Midland National
• Prudential

These would be a start to begin with and gather quotes. You need to work with an experienced agent or upline to help with case design and presentation.

Of that group, how many actually write whole life?

 

[deadhead]

In NC I can refer you to a good IMO that can assist you

 

[TwiLight]

Of that group, how many actually write whole life?

only four do not and they are IUL Specialists.

 

[moonlightandmargaritas]

A newly licensed life agent was asked by her doctor for a $1.5 million whole life policy and has other colleagues also interested. He's 27 years old. We're having trouble in NC finding a carrier. Her Old Republic colleague says she should give that lead to him to handle. I told her absolutely not (I've been licensed over 25 years).

I told her that she only has to get licensed with a credible carrier and submit the application for the potential insured. Any ideas on finding a carrier?

If you (licensed over 25 years) don't know who the carriers are that play in this market, neither you nor the newly licensed agent have the credibility (or knowledge) to handle the case.

We can help you with the following companies that I would recommend to look at:

• American National / ANICO
• Genworth
• ING
• Lafayette Life
• Lincoln Financial
• MetLife
• Mutual Trust Life
• National Life Group / LSW
• North American / Midland National
• Prudential

A nice minor-league list, but the three players that dominate the advanced, physician-type markets are absent. In no particular order; Guardian, Northwestern Mutual and New York Life.

You need to work with an experienced agent or upline to help with case design and presentation.

An "upline" ain't gonna mean diddly. A new agent will be frothing at the mouth with the thought of the commission. They'll chase around and get "quotes". Eventually the doc will figure out what's going on, get skittish, and if they're serious buyers, find a referral to an agent from one of the "big three" (see above). The "newly licensed agent" gets squat.

People that are experienced in this market know not to get "quotes", but to find out motivation ("Why do you want to buy $1.5 million of whole life?").

Bring in a seasoned agent. 50% of something beats 100% of nothing - every time.