Does Anyone Sell Term Insurance Anymore?

[0b1kanobee]

I'm a fan of John Hancock and Nationwide UL with LTC. I never sold it in the past, but broaching the concept of LTC with people in their 30s-40s is eye opening because they are seeing their own parents and grandparents. I am killing it--they are willing to pay $300 a month for life/ltc, vs. paying $50 for term, and $500 for LTC standalone. Killer product--and clients are referring...

What is the John Hancock product called that has the LTC and for someone age 60 is it still in the ballpark for premium costs?

You mentioned 30 to 40 Y.O. paying $300 per month. I need something with LTC besides LTC stand alone as it is not affordable for most of my clients (folks getting ready to retire with pensions).

 

[WinoBlues]

I still sell term. A lot is rewrites of term I sold before. Some people never learn. If I could chose I would only sell 10 year term convertible. Then in 5-7 years i know I have another sale.

The bigger issue to me as an agent, is the ULterms. We are screwing ourselves selling non convertible term. When this crap starts terming out in 10 to 20 years there are going to be some pissed off uninsurable people. The health ones are easy, just rewrite them.

 

[magagent]

Most of my term sales come from Final expense sales.. Prospect says "Mr. Agent, my son, daughter, grandkids all need life insurance can you help them out today"? OH yeah... all day long...

I still sell term. A lot is rewrites of term I sold before. Some people never learn. If I could chose I would only sell 10 year term convertible. Then in 5-7 years i know I have another sale.

The bigger issue to me as an agent, is the ULterms. We are screwing ourselves selling non convertible term. When this crap starts terming out in 10 to 20 years there are going to be some pissed off uninsurable people. The health ones are easy, just rewrite them.

 

[WinoBlues]

Most of my term sales come from Final expense sales.. Prospect says "Mr. Agent, my son, daughter, grandkids all need life insurance can you help them out today"? OH yeah... all day long...

Yup, and the reverse. I sell a term to Jr and his wife and I mention that I have some great plans for seniors with pre-existing conditions. Then I get to sell the mother-in-law and I mention that I have some great young family plans.......... You can follow a threat out to 10 policies.

 

[shooter]

I still sell term. A lot is rewrites of term I sold before. Some people never learn. If I could chose I would only sell 10 year term convertible. Then in 5-7 years i know I have another sale.

The bigger issue to me as an agent, is the ULterms. We are screwing ourselves selling non convertible term. When this crap starts terming out in 10 to 20 years there are going to be some pissed off uninsurable people. The health ones are easy, just rewrite them.

Wino your right about the ULterms. It isn't doing us as agents any favors to write this type of coverage.
Plus several big term companies are going with it exclusively.

Protective, & Genworth come to mind.
Only up side is you get payed on the policy fee if there is one.

I do prefer to sell term or a GUL product. I sell the GUL as term to 100. Works sometimes.
Of course WL if they can pay the freight.

Shooter

 

[bobson]

Every time a 60+ year old calls to buy more term insurance because their 10 or 15-year term policy expired, I think to myself....hmmm, guess they forgot to invest the difference....or maybe they invested the difference and then lost half when the market crashed, or maybe they invested the difference and lost half in a divorce, then got remarried.....

Quoted and will be used in future presentations. Nice work.

 

[maniacagent]

Anyone know what percent the LTC commissions are these days? It's been years since I sold one of those; maybe it is time again.

 

[DEGRI]

I love term insurance. Straight and to the point. Sell it often...love non-med term insurance even MORE!

 

[Sales71]

I never sold a final expense policy or something what is it and what company offers it. It sound like a good low premium policy. Do they have to go through medical underwriting as well?

 

[GreenSky]

Come on. Tell Mark the truth!

Not one agent ever sells term insurance. It's dead. Finished. Get out of the business now. Sell health insurance.

Rick