Definitions: Whole Life Insurance Vs Permanent Life Insurance

Re: Definitions: Whole Life Insurance Vs Permanent Life Insuranc

Not sure you read my response in detail. I actually am giving them what they want. It's just that I don't correct their phrasing of it at first. Once we have determined what they want is guar. UL, I do explain the difference and what the correct term for it is. So no shortcut. I just explain it on the back end of the conversation.

I'll give you another example of when I don't explain definitions and differences between x and y product... when I'm selling one of these new hybrid Term/UL's. You want to blow a sale? Try explaining the difference between traditional term and a term/UL to someone who tells you they don't want a UL. Yes, it's much better to cover the definitions and in depth explanations of the product on the back end of the conversation.
 
Re: Definitions: Whole Life Insurance Vs Permanent Life Insuranc

So what if they actually want whole life, cash value and the whole deal? Do you still try to tell them a GUL is the same thing, or will you sell them the whole life they really want?
 
Re: Definitions: Whole Life Insurance Vs Permanent Life Insuranc

OK, if modern whole life matures at 121. Then that would mean that an endowment policy matures before age 121 ? Since they mature early, they don't have the tax advantage of WL ?
 
Re: Definitions: Whole Life Insurance Vs Permanent Life Insuranc

OK, if modern whole life matures at 121. Then that would mean that an endowment policy matures before age 121 ? Since they mature early, they don't have the tax advantage of WL ?

Being paid up and matured are two completely different things. Being paid up means that no further payments are due and none will be accepted. Only loans may be repaid. Matured means that the cash value equals face amount.
 
Re: Definitions: Whole Life Insurance Vs Permanent Life Insuranc

Volagent,

Thanks for the info. I have meant to tell you the picture of your little boy is very cute, he is a good looking boy. Some
other agent has a picture of his baby on here, cute baby too.
 
Re: Definitions: Whole Life Insurance Vs Permanent Life Insuranc

Life insurance should not be used as an investment vehicle-
 
Re: Definitions: Whole Life Insurance Vs Permanent Life Insuranc

Life insurance should not be used as an investment vehicle-

Please, we have enough threads on this already. Let's not start any more. All it does it create 10 pages of opinions and never go anywhere.
 
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