Is There Such a Thing As a Combo ROP/LB Policy?

[ExProgrammer]

I know I should stick to FE if possible, but I sold a policy for an 8 year old boy whose aunt is considering a term policy (conveniently her mother wants an FE policy on the aunt, so maybe I can do two policies on her ). I've only spoken with her on the phone, but she sounded interested when I told her about Transamerica's LB (Living Benefit) policies. She qualified for disability because of an injury, but is otherwise healthy. Also, I have a lead who is a 35 y.o. male who seemed interested in Cincinnati Life's 30 year ROP policy. He says he has no health problems.

So the question is, "Is there such a thing as a combo ROP/LB policy?"

Thanks,

Tim

 

[rousemark]

I know I should stick to FE if possible, but I sold a policy for an 8 year old boy whose aunt is considering a term policy (conveniently her mother wants an FE policy on the aunt, so maybe I can do two policies on her ). I've only spoken with her on the phone, but she sounded interested when I told her about Transamerica's LB (Living Benefit) policies. She qualified for disability because of an injury, but is otherwise healthy. Also, I have a lead who is a 35 y.o. male who seemed interested in Cincinnati Life's 30 year ROP policy. He says he has no health problems.

So the question is, "Is there such a thing as a combo ROP/LB policy?"

Thanks,

Tim

Family Life's MCI_GOLD is an ROP Term to which you can add a critical illness living benefit rider.

 

[wln417]

Find a UL or WL policy with LB and modify the specified premium until the CV = Premiums paid in the desired year. You might try North American's UL. Obviously won't be an actual, guaranteed ROP but should come pretty darn close to being the same thing, especially if you use the guaranteed values in a UL. Premium might be somewhat higher than a true ROP, but that just means they'll get more money back should they choose to lapse it. At the end of the 20, 30, or however many year period, they have the option keep the policy in force, maybe even without having to reduce the coverage or pay any more premiums.

 

[bboman23]

They only seem interested because you are telling them about it. If you are new, you should close them when you're with them. You can worry about all the other types of policies after you master FE.

 

[PA Bill]

They only seem interested because you are telling them about it. If you are new, you should close them when you're with them. You can worry about all the other types of policies after you master FE.

Winner winner, chicken dinner!

 

[WinoBlues]

They only seem interested because you are telling them about it. If you are new, you should close them when you're with them. You can worry about all the other types of policies after you master FE.

That. People tend to buy what we show or "push" as the best.

That and I completely agree that a new agent should laser focus on one aspect of the business.

 

[rousemark]

That. People tend to buy what we show or "push" as the best.

That and I completely agree that a new agent should laser focus on one aspect of the business.

Not bad advice for the old agents either..

 

[WinoBlues]

Not bad advice for the old agents either..

True.

On the "what we show", I was part of a LinkedIn conversation where some of the members were "only buy term and invest the difference" my counter views got me locked out. So it is all aspects of this business where what we believe or sell "is the best"

 

[Speck]

Americo has those with ROP, critical illness, and disability depending on what their health and occupation is like. Pioneer American, an American Amicable company has these as well. They are no exam policies and go up to a table 6 and table 4 respectively. Generally, insulin-dependent diabetes, heart, cancer, or any major issues that would need APS would not be accepted on these types of policies. Controlled BP, type II diabetes, or a bit overweight would be ok. Disability and critical illness riders have stricter guidelines than the base term policy. Have written many of these for mortgage protection purposes.

 

[wln417]

I thought the question was "Is There Such a Thing As a Combo ROP/LB Policy?".

I can't read between the lines. I must've missed where he asked for advice on whether he should just concentrate on FE and not sell ROP or LB policies.

My bad.