Huge Whole Life Policy

[Newby]

I don't really know RNA specifically, so I can't comment on them without knowing. But what if there was something better? From what I've seen, the mutuals tend to have the nod over fraternals for whole life. Again, if the client is just looking for purely permanent DB...there is likely a product that will give them more DB for the same $ - or cost less in premium $ for the same WL DB. To me, that seems better.

Every fraternal is a mutual isn't it?

 

[John Galt]

Or worse than shopping you while you are working with the client, how about them finding out afterwards there was a significantly better option for them?

If you know how to take control of the meeting there is no reason to be shopped. Could I buy a Benz elsewhere cheaper, sure, If I want to waste my time and call 100 other dealers....or I can do business with the guy I like and trust and be just as happy, I have my wheels, a fair payment and a great auto. The prospect will have great coverage and be protected.

People that shop crap to death are not my people. Unless we are talking about a situation that is similar to someone getting stonewalled on a LH policy.....then there is really not much reason to shop.

With that said, it is my job to take control of the meeting and exploit if a prospect has something in place already, I will exploit the premium, amount of coverage and face amount. If I cant beat it and put them in a better place I say good bye. If they are in poorer health than when they took the incumbent policy out and they have had it longer than 2 years I say good bye.

 

[jdeasy]

I don't really know RNA specifically, so I can't comment on them without knowing. But what if there was something better? From what I've seen, the mutuals tend to have the nod over fraternals for whole life.

Again, if the client is just looking for purely permanent DB...there is likely a product that will give them more DB for the same $ - or cost less in premium $ for the same WL DB. To me, that seems better.

Of course you should look at all options. But you were saying there are better options than RNA's whole life. I would like to know what they are.

And yes, GUL might be the best option for this person but that wasn't the question.

 

[pfg1]

Of course you should look at all options. But you were saying there are better options than RNA's whole life. I would like to know what they are.

And yes, GUL might be the best option for this person but that wasn't the question.

Well I only looked at one. ONL has a WL that is 25% less premium for the same DB. There may be others.

 

[jdeasy]

Well I only looked at one. ONL has a WL that is 25% less premium for the same DB. There may be others.

You're saying that ONL's premium for a whole plan is $14,500/yr?

 

[WinoBlues]

Well I only looked at one. ONL has a WL that is 25% less premium for the same DB. There may be others.

That one I can run. But if you did already, What are the non forfeitures in yr 10 and 20?

 

[pfg1]

You're saying that ONL's premium for a whole plan is $14,500/yr?

For their basic cheapest WL $500k preferred NT its $14,800. About $500 less at super preferred. Yr 10 guar CSV is $128,570 - Yr 20, guar CSV is $278,325. With div CV will be higher, so will DB.

 

[scagnt83]

You were being condescending and you had quoted me, so I responded in kind. If anyone here is a troll it is you. You spend your day post long winded responses to this forum. All you do is troll around the IF looking for a place to boost your word count.

Have at it bro.

What factual statement did you make that diminished my ego or was that your attempt at being even more condescending?

----------

Of course you should look at all options. But you were saying there are better options than RNA's whole life. I would like to know what they are.

And yes, GUL might be the best option for this person but that wasn't the question.

To add to the mix, Guardian for a Preferred NT comes in at $18,300 for their lowest priced WL product. Did you run your illustration at Standard or Preferred?

At Preferred rates, $500k at age 63 on North American's GUL comes in at $9,600. At Standard they are $11,600. So at minimum that is around $8k less for a DB guaranteed to age 121.

If all he cares about is a level DB then GUL is the best value hands down. If he wants an increasing DB then look at a participating WL policy. But first the OP needs to figure out the prospects priorities and current health. Then he can line up the best type of product and the best carrier to go with.

 

[WinoBlues]

The shoe pissing aside.

I like seeing the options. This forum has more knowledge than I do but I have enough to tap it. See options and opinions help me and by the emails I have gotten it helps other agents see different options (shoe pissing aside).

Aside from a healthy 63 yr old male the OP says it is a Death Benefit need.

The Companies are RNA A- (WL) Quoted by JD, ONL A+ (WL) quoted off the website, Lincoln Financial A+ (GUL) quoted off the website. Guardian was mentioned but I do not have them.

RNA was quoted as best available so I am quoting the same on the others. I can not get the RNA to quote so I do not have the non forfeitures for them.

LFG:

$500,000.00 GUL @ $759 per month, zero cash values, Includes ABR
Note: I would have also showed a short pay option on the $500,000
Premium comparison: $1,000,000.00 GUL @ $1,507 per month, zero cash values, includes ABR

RNA:

$500,000.00 WL @ $1,681 per month. $?? cash values

ONL:

$500,000.00 WL @ $1,241 per month. (GV) 10yr CV-$128,470. 20yr CV-$278,325. -- (CurV) 10 yr -$128,470. 20yr -$319,037.

Premium comparison: $675,000.00 WL @ $1,673 per month. (GV) 10yr CV-$173,435. 20yr CV-$375,736. (CurV) 20 year surender value $430,700. So the RdPu would be more than the $500,000.

Please post your options.

 

[GreenSky]

Please post your options.

If I have an option, I'll take a Guinness.

Thanks.

Rick