GTL Platinum Plan

[STIBROKER]

That's what I thought but how much do you want out of him....say you find the same type of policy and save him 30 bucks.....then down the road he gets burned on cancer he could point the finger at you for suggesting it.......

I've already got the guy's life insurance, Scott. My objective is to add to it.

 

[Chazm]

Is this some new product from the Jersey Shore?

 

[Fisher]

Is this some new product from the Jersey Shore?

Wouldn't know.
............

 

[somarco]

I still think you are wasting your time. Better you waste it than me.

 

[Ann H]

Appreciate the replies but everyone's completely missing the point. I am WELL aware of all the downfalls of this type of 'coverage'. You guys are preaching to the choir.

Was just wondering if there was anything cheaper. With ROP.

Yes. It would be cheaper to sue you and get all his premium back (ROP), or get his claims paid. If your objective is really to switch this guy from dirt supplemental coverage to cheaper dirt supplemental coverage in order to have funds available for the purchase of additional life insurance, you'd better hope he doesn't have a good attorney if he gets cancer, heart attack or stroke. Do the right thing and show this guy how to upgrade his health insurance to something stable and comprehensive, while also recommending the amount of life insurance he needs. If he buys one without the other, or if he blows you off and buys none, go on to the next guy in your rural area that bought dirt supplemental coverage. Perhaps the next guy has brains.

 

[Fisher]

Wow, I'm really being painted as the doofus here. I could've sworn I posted that I was wondering if there was a way to better the guy's situation.

That's cool. Thanks for all the commentary/judgments.

 

[HomeService]

Yes, you can add an accident plan or disability. He needs an accident plan, probably. You know there is no way you can do anything to get him to drop the hospital indemnity, so compliment him on it, and add the disabilty or accident plan.

 

[Ann H]

Wow, I'm really being painted as the doofus here. I could've sworn I posted that I was wondering if there was a way to better the guy's situation.

That's cool. Thanks for all the commentary/judgments.

I don't mess around with limited benefit/indemnity plans but I uncovered this at a recent client meeting and would like input from you all. This product only pays out for cancer, heart attack and stroke. The brochure is attached below.

The guy has himself (47), his wife(43) and daughter(13) on the plan for 170.35/ month. Policy effective 9/2/2010. He's not concerned about major medical because, as he says, "Just about everybody we know that has died has died from cancer, heart attack or a stroke." (I know, I know...)

The ROP feature after 15 years is what he's MOST excited about in the whole thing.

Any product out there that I should look at to better his exposure on this? It'd be cool if there is because a Combined-like team went through this rural area and wrote of bunch of these.

Case is in Missouri.

As always, thanks.

You're right. In your very first post, you said you wanted to better his exposure on this. My apologies for my stern answer.

 

[AllenChicago]

I bet the Return of Premium feature returns premiums minus any medical expenses paid out. Does it pay a partial return of premium if the guy cancels in 2, 3, or 4 years without any claims? Sounds like a good marketing tool, but the reality probably kills it. Speaking of "kill", unless you explain the fine print of this ROP feature, this client might come after you when he terminates the plan and gets back only a fraction (or none) of what he has paid over the years. Have him sign some kind of acknowlegement and put it in his file. -ac

 

[Fisher]

Sigh...

Some folks are seriously comprehension-challenged. More than a bit sad, really, Allen.