Competing Against Globe Life

[jdeasy]

A lot think they can sell life insurance easier if they can combine it with the sizzle of the Fraternal benefits.. I think JD is the only one I know of that has sold Fraternal that flat out makes the statement, "I am an insurance salesman not a fraternal benefit salesman."

Are you now trying to say that fraternals are not insurance companies? Nor do I believe I have ever made that statement that you quoted me as saying.

 

[rousemark]

Are you now trying to say that fraternals are not insurance companies? Nor do I believe I have ever made that statement that you quoted me as saying.

If I attributed a quote to you that you didn't make then I apologize.. But the reference was not to pros or cons of doing business with a fraternal but to the fact that you (or whoever said it) sold plans based on what the insurance coverage provided for the client and not what fraternal benefits they may receive which is the way it should be sold.

I have no objection whatsoever to Fraternal companies.. However, I do think both agents and clients should be fully informed as to what might possibly "might" happen no matter how remote that possibility may be. Perhaps part of that comes from my experience of being around long enough to have seen what happened to many ULs that was "highly unlikely".. When interest rates were 13% people were saying "we will never, ever see rates below 5%. again".. Now, we are wondering if we will ever see them above 5% again.

 

[WinoBlues]

If I attributed a quote to you that you didn't make then I apologize.. But the reference was not to pros or cons of doing business with a fraternal but to the fact that you (or whoever said it) sold plans based on what the insurance coverage provided for the client and not what fraternal benefits they may receive which is the way it should be sold.

I have no objection whatsoever to Fraternal companies.. However, I do think both agents and clients should be fully informed as to what might possibly "might" happen no matter how remote that possibility may be. Perhaps part of that comes from my experience of being around long enough to have seen what happened to many ULs that was "highly unlikely".. When interest rates were 13% people were saying "we will never, ever see rates below 5%. again".. Now, we are wondering if we will ever see them above 5% again.

That is exactly where I come from. Add to that companies like Jackson National raising rates on old 20 year term plans, midterm. Or companies raising internal cost on older policies. does not raise the premium but strips the CV.

If it is not guaranteed then it is well,,,, not guaranteed.

With admitted companies you have an additional back up with the guarantee associations.