SPWL - is anyone selling it? If so, which carriers?

[damadcrapper]

I assume with interest rates rising and overall inflation there might be pressure on SPWL sales. I have not seen much discussion in the Forum. Is anyone here selling it? If so, which carriers?

 

[Todd King]

You would rarely find a place for SPWL in the FE market. You really have to approach it from the Medicare side and the U65 crowd.

I used to love finding a place for it and selling it. Great product in the right situation.

Problem is, most agents don't bother to look for it. You have to dig for it. Most agents seem to be more concerned with selling one product and getting the hell out of the house nowadays. I understand that in the true FE market, but not the Senior Market as a whole.

 

[damadcrapper]

I have found some old, underperforming policies during reviews and the client was looking for a 1035 option and no further premiums. Mostly small cases.

 

[Todd King]

I have found some old, underperforming policies during reviews and the client was looking for a 1035 option and no further premiums. Mostly small cases.

I used to find them when I would go into a house and they had several policies, maybe some paid up and some they still paid for. Lump it all into one, no more payments and many times had more coverage overall.

I never found a way to market them though. I have searched high and low and I've come to the conclusion that no one has ever marketed SPWL successfully.

 

[Tahoe Ray]

I have searched high and low and I've come to the conclusion that no one has ever marketed SPWL successfully.

I agree.

It's a great annuity alternative, especially for older clients, but I don't know of anyone that leads with it. It's normally a cross-sell.

 

[jdeasy]

I assume with interest rates rising and overall inflation there might be pressure on SPWL sales. I have not seen much discussion in the Forum. Is anyone here selling it? If so, which carriers?

I've sold a handful over the years. RNA probably pays the agent the most?

Oxford is the same as their FE app. KSKJ has a good single premium. Trinity/FBL too.

They present themselves sometimes as you meet with hundreds of people a year. I wouldn't know how to hunt for them.

 

[LostDollar]

Caveat, NOT an agent.

Oxford and Liberty Banker's Life are two possibilities. Baltimore Life another. There are more, I can no longer recall them.

When I was looking in 2021, LBL offered a little more coverage for the premium I had to spend, but I liked the Oxford accelerated death benefit programs, and the forced amount to be retained for insurance, better for the situation I was working on, So I went with an Oxford policy with a lower face and what I hope will be more appropriate accelerated benefits.

Premiums have gone up once or twice since then so I have no idea how comparisons would work out today.

 

[Family4life27]

Caveat, NOT an agent.

Oxford and Liberty Banker's Life are two possibilities. Baltimore Life another. There are more, I can no longer recall them.

When I was looking in 2021, LBL offered a little more coverage for the premium I had to spend, but I liked the Oxford accelerated death benefit programs, and the forced amount to be retained for insurance, better for the situation I was working on, So I went with an Oxford policy with a lower face and what I hope will be more appropriate accelerated benefits.

Premiums have gone up once or twice since then so I have no idea how comparisons would work out today.

Baltimore has a great SPWL!

 

[jdeasy]

Baltimore has a great SPWL!

Great for whom? The agent? The upline?

Certainly not for the consumer.

 

[HoosierLife]

Only ever wrote 2. One with Settlers and one with Oxford.