Child Rider for “adult” children?

[rousemark]

They are hammering me to sign the new contract. Maybe I will look at the FU WL for small face.

WE have no choice on the contract.. It is either agree to it or not be able to sell any of their products..

 

[rousemark]

Nope.

You 'may' something with an 'other insured' that would work. I have not seen one in a while.

Explain why it is better for stand alone polices. If the premium drats the same date why does it matter it it goes in one direction or three?

Grandchild rider- yes, depending on age. However, the cost of a term rider for one person is going to be pretty close to a stand alone lifetime policy.

You are the professional life insurance agent. Not her. Show her why.

All IMohsoHO

Columbian's child rider is now per child...$10K would be $2.09 per month for one child. Available on children and grandchildren, natural born, adopted or step.. Am pretty sure that also applies to great grandchildren also..

Strictly a "blue collar" WL product. They have also made a $30K GPO available for issue ages 0-37.. Great additional for agents that plan to be around a while.. Built in sales down the road.

The Critical, Chronic and Terminal illness riders are available at no cost on the plan now.

Commission rates the same as the old New Century WL..

 

[WinoBlues]

It's not. I only know because we had a broker ask for it. He's writing two separate policies now.

I looked at the product guide. Other than the policy fee being waved I don't see the advantage. It does not say if the rider includes an ABR. At death of the primary the only option appears to be conversion.

FYI, that child rider is not great either. Max is $10,000, only to age 23, no multiple on conversion.

 

[rousemark]

I looked at the product guide. Other than the policy fee being waved I don't see the advantage. It does not say if the rider includes an ABR. At death of the primary the only option appears to be conversion.

FYI, that child rider is not great either. Max is $10,000, only to age 23, no multiple on conversion.

Are you referring to Columbian? The max on the child term is $25K.. Convertible up to 5 times face.. In TN, it goes to age 25..

 

[WinoBlues]

Columbian's child rider is now per child...$10K would be $2.09 per month for one child. Available on children and grandchildren, natural born, adopted or step.. Am pretty sure that also applies to great grandchildren also..

Strictly a "blue collar" WL product. They have also made a $30K GPO available for issue ages 0-37.. Great additional for agents that plan to be around a while.. Built in sales down the road.

The Critical, Chronic and Terminal illness riders are available at no cost on the plan now.

Commission rates the same as the old New Century WL..

That child rider sounds pretty good. Normally the break even, premium wise, is 2 or three children v a MoO child WL.

Add the included chronic, critical and ABR. That probably makes the policy pretty sticky.

 

[WinoBlues]

Are you referring to Columbian? The max on the child term is $25K.. Convertible up to 5 times face.. In TN, it goes to age 25..

Sorry, no I was referring to United of Omaha (MoO) term.

$10,000 of child rider is of course better than nothing. But pretty low.

 

[rousemark]

That child rider sounds pretty good. Normally the break even, premium wise, is 2 or three children v a MoO child WL.

Add the included chronic, critical and ABR. That probably makes the policy pretty sticky.

The only problem is the term riders do not have the ABRs. There is a way around it.. Write the WL amount and then instead of using the term rider, write the SafeShield term.. Both plans will have ABRs.. Not much difference in premium and also gets around having to have a exam for $100K amounts as each plan stands on its own when it comes to underwriting requirements.

 

[WinoBlues]

The only problem is the term riders do not have the ABRs. There is a way around it.. Write the WL amount and then instead of using the term rider, write the SafeShield term.. Both plans will have ABRs.. Not much difference in premium and also gets around having to have a exam for $100K amounts as each plan stands on its own when it comes to underwriting requirements.

What are the non med limits on the FUWL. Ages 50 and 60?

 

[rousemark]

What are the non med limits on the FUWL. Ages 50 and 60?

$99,999.00

 

[WinoBlues]

$99,999.00

I may need to take a look at my contract with them again. As I remember the renewal was good.