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The only Globe policy I know of that the premium goes up is the one for seniors. It goes up every 5 years. That one's easy to replace.
Competing Against Globe Life
- Thread starter dallas1
- Start date
The only Globe policy I know of that the premium goes up is the one for seniors. It goes up every 5 years. That one's easy to replace.
That's interesting. I never noticed that before. They just mention the underwriting guidelines are the same as their whole life, but don't say the product itself is actually whole life.
Very clever.
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I write mutual of Omaha children policies. 0 to 6 year old boy or girl is 3.70 monthly for 10k. It's banded ages like that all the way up to 25yrs old. Only need the insures name and birthdate not ssn. Also insured doesn't sign. You can write a 25 yr old son/grandson and they don't sign. Plus they get that rate no matter health or smoker. Pretty neat little policy.
- 18,989
For adults Globe has their term which increases in premium every 5 years and ends at age 80. They also have whole life with guaranteed premiums. I've replaced a ton of them because they are not priced very well except for smokers.
The last time I replaced them I could easily rplace the husband's policy with SIWL as he was a non smoker. The wife was a smoker and I had to RNA's EL to beat that price. They had the policies for about 4 years. So if I had gotten to them earlier I could have used SIWL on the wife as well.
It's a whole life.they had me and my agency into the home office for a visit and training. It's a whole life product they made that clear. It grows cash value also. It's the same type as Globe adjustable premium WL
- 24,979
I seem to remember that you had United Heritage also. They had the GP-2 for years. That was a Graded Whole Life policy. I have quite a few of those on the books.
- 18,989
It doesn't meet the definition of whole life. That's problably why they didn't file it as a whole life product with the states.
Seems very misleading to me to call that whole life.
I wonder if they would put in writing that it's whole life?
Yes United Heritage is my main carrier. Love that company.
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California still has the old rates so they are not as competitive. Very easy app though.
I made two calls to them yesterday. One was to CS to request a loan for a client. It was processed yesterday. She will have the check today. The other was on a claim. The checks should go out today, probably already went out.
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That brings up a question. What is the destination of Whole Life?
- 18,989
Guaranteed level premiums is the prmary definition if you look it up. That product fails on the very core. The company knows that. There's a reason they don't label it whole life.
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