Does an FE policy pay “interest” upon death payout?

[DonP]

Have you sent him the ra
Tes
On SBLI and Trustage? I sent him rates on Mountain Life and SNL and they were posted within 24 hours.

That’s not my job . It’s the job of the company to update quotes . That’s what I pay for

 

[jdeasy]

When my wife passed earlier this year, I waited some time before making the life insurance claims. Every company, including FE and FU paid the claim with interest from date submission. Interest rates were all between 7% - 8%. Several lessons learned about life insurance and estate planning that not even 40 years in the field taught me this past year.

That’s terrible that you lost your wife. I can’t imagine how hard that must be.

I’m very sorry for your loss.

 

[rousemark]

That’s not my job . It’s the job of the company to update quotes . That’s what I pay for

They have always depended on the agents to notify them of changes. The companies don't do it.

 

[FEX Quotes]

Sorry for your loss Adam.

Thank you Tom

 

[FEX Quotes]

That’s terrible that you lost your wife. I can’t imagine how hard that must be.

I’m very sorry for your loss.

Thank you John.

 

[FEX Quotes]

They have always depended on the agents to notify them of changes. The companies don't do it.

While agent input is very important, we actually receive quite a bit of company and FMO/IMO support as well.

Technically speaking, FEX is not in the insurance business. We are in the data aggregation business which by definition requires multiple sources of input.

In fact, many of the updates in our system are a direct result of folks who are probably reading this.

 

[FEX Quotes]

Have you sent him the ra
Tes
On SBLI and Trustage? I sent him rates on Mountain Life and SNL and they were posted within 24 hours.

This is a great example where agent input is invaluable. After Tommy O. left SNL, company communication has been terrible.

 

[WinoBlues]

Every company, including FE and FU paid the claim with interest from date submission. Interest rates were all between 7% - 8%.

What state?

Sorry for your loss. I hope your family is healing.

 

[FEX Quotes]

What state?

Great question. Actually, I believe it's the only question.

State of residence at death was NJ. Residency at death seemed to be the only thing that mattered.

Even though it hasn't been mentioned in this thread, return of unearned premium should not be overlooked.

Sorry for your loss. I hope your family is healing.

Thanks Lee. It's getting better.

 

[WinoBlues]

Even though it hasn't been mentioned in this thread, return of unearned premium should not be overlooked.

True. Especially with larger premiums and stacking policies.

Best wishes