I'm sure this has been around but I've never seen it. I got an insurance mailout from my credit union and Transamerica Premiere is the co. It was level term till age 100 and age banded rates. Its rop plus 25% the first 2 yrs. The rates look Gerber type and actually cheaper. Then I saw the little *This is group life insurance and rates can only be changed by class for everyone insured under the same Group master policy. Its a clever way to price GI. Ok we'll take you at a great price but if we have adverse claims history we'll raise the rates for all. But I bet a ton of people who could get level coverage elsewere apply. Could this be how co's sell Gi in the future?We'll take everyone but if our rates are too low and claims fly in tough crap we'll jack all rates.
Is this this the GI We'll See in the Future?
- Thread starter sirherbie
- Start date
- 11,280
Isn't that kind of how fraternals operate?
- 5,264
Already doing that with AARP's NYL "Permanent" Life Insurance Plan (although it is not a guarantee-issue plan).
- 19,053
No, not at all. That may be how agents that sell against fraternals say they operate?
- 25,065
- 2,960
I can't believe you took that bait. And from Mike of all people. :-)
- 1,472
There's a company out of tulsa OK, leaders life, and I think they have a similar product. Term to age 100. People get it through their work, then keep it when they leave. I've seen it in the field only a few times, but It was always cheap enough to that I couldn't get them to walk alway, only try to add some whole life.
- 2,758
That sounded like a good product. I found their website hoping they'd be in FL. They're not.... "Rats....."
