Guaranteed Issue that competes with Mutual of Omaha

[Life Hawk]

Easy is good... but compensation is better. The comp rates between the two are not to compared. And if you are going to put the work into one, make sure its the one you are better compensated for, it if fits the the bill.

Just a thought.

Also... to my knowledge SofN does not SS billing.

 

[Newby]

• underwriting is so unclear - remember everything is "within the past 2 years" anything 24 months and 1 day is a go.
  
• medications are the same 24 months and 1 day. That means cancer and memory meds fall into that time frame as long as they have been on them for longer than 2 years.
• it’s not like their underwriters will answer the phones - still trying to figure a round-a-bout to that one myself, and fully understand frustration on the phone especially now.

Something I learned yesterday... If they are turned down for the FE product, you can immediately pivot to the PrimeTerm to 100 product.

Yes or No (most of the time) before you leave the home. Not greatest on rates, but the SS billing is gold. That is policy conservation there.

I don't own stock in them, but they are growing on me just because of ease of business.

Don’t your applicants have an issue with the decreasing benefit though? It ends up as a $1000 death benefit if they live too long doesn’t it?

 

[goillini52]

Does SoN offer voice sign. app?

Like Billy said, they have an e-app. I haven't tried it yet, but it looks easy.

 

[Life Hawk]

Don’t your applicants have an issue with the decreasing benefit though? It ends up as a $1000 death benefit if they live too long doesn’t it?

I'm using the above equation for folks north of young. The products takes 4 years to reach 100% face then an additional 20 years at face, does not begin to decrease until 24 years down the road, and maintains +50% of original value for an additional 7 years.

Product offers coverage from 40 to age 80. 40 and early 60's are too young in my mind without reason, but 60+ based on health concerns seems like it might make a good fit, case by case.

Not a hill I'm gonna die on, just think it has a place and a time.

 

[Life Hawk]

While we are on the subject, does anyone know how long the average whole life/ FE product stays on the books from time of purchase? I'm sure I've ran across that number before but can't quite seem to remember?

 

[shonceman]

Sons of Norway GI will usually beat the MOFO GI's rate.

@goillini52 , Are you contracted direct or through an IMO?

 

[goillini52]

@goillini52 , Are you contracted direct or through an IMO?

Kace Vang RFC, CFEI, CFLA
President and CEO
NexVision Financial Group, Inc.
445 North Etna Street # 62
St. Paul, MN 55106

Phone: 651-387-8077
Fax: 651-347-6068
www.NexVisionFinancialGroup.com

 

[Allen Trent]

While we are on the subject, does anyone know how long the average whole life/ FE product stays on the books from time of purchase? I'm sure I've ran across that number before but can't quite seem to remember?

I am not 100% certain about how long the average WL stays in force, but I am 100% certain the best carriers with the best performing products & great agents stay in force a lot longer than the average policy. FE much shorter than average because of target market & they dont build up Dividends & PUAR that could pay for premiums in bad times, etc.

So, until proven otherwise by facts, I would claim it is on average 14.7 yrs for all policies, 21.2 years for all good products that make it a minimum of 10 years. Those policies that make it to death claim would average 40.75 years. Lack of belief from customer tends to come out in the 1st 5 years especially if they perceive a hard sell.

PS-- all above numbers would drop if kids WL policies are written where the child becomes the owner & finds out it has cash value between age 18-25

 

[Justin G]

It happened to me once. I didn’t or couldn’t find another product that would take him since he was diagnosed HIV IN 1996, remission since 1998, no meds taken since 1998 either. $36 per month $10,000 MOO GI

 

[goillini52]

It happened to me once. I didn’t or couldn’t find another product that would take him since he was diagnosed HIV IN 1996, remission since 1998, no meds taken since 1998 either. $36 per month $10,000 MOO GI

What age and Face?