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I have no problem writing term. It makes sense to a lot of younger folks.
I just can't stand these people who have lost their license or went through bankruptcy giving horrible cookie cutter advice.
Suze Orman
- Thread starter OHFE
- Start date
I have no problem writing term. It makes sense to a lot of younger folks.
I just can't stand these people who have lost their license or went through bankruptcy giving horrible cookie cutter advice.
- 15,041
You want to know the best way to avoid Ramseyites and Ormanheads?
That is the way to do it!
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- 15,041
Don't do kitchen table presentations after 5pm. That market is primarily wage earners who don't have a lot of control over their day at work and thus can't meet at any other time. They are prime candidates for term insurance, but they are the most likely to be card carrying Ramseyites.
- 110
She is so full of herself, it sickens me to listen to anything she says.
This is pretty much beating a dead horse. If someone wants term, that's fine with me. Make sure that is is convertible and not a UL that dies with no option to extend the time period. Commissions will be higher when they do have to buy perm.
I have a client that for 5 yrs has squirmed because his 20 yr old term is past the level premium period and is suddenly increasing. We were both young when we wrote it and underwriting gave him a preferred best.
He complained that he had better "quotes" than my conversion option. The only problem is he can't pass underwriting. I told him that I had quotes that were much cheaper than the competition.....he can't buy them either. Conversion rates go up every year. So far, he's taking the renewal. I'll be in business whenever he wants to convert.
Dave expanded on the old AL Williams buy term and invest the difference. It is the same thing no matter what and as every strategy based on many ass/u/mtions. 12% after tax, after expense, after load return, actually investing the difference, actually being self-insured etc.
I'm like everyone else and don't want to spend more on premiums than necessary. I can also tell someone what the least expensive insurance strategy is. All they need to do is tell me when they're going to die.
There is no point arguing. Simply write the term and then the mutual fund.
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AND, if you're referring to Dave, he does have integrity AND does motivate people to save money and get out of debt.
Money and no debt are good things. AND, he ignores the assumptions. The pot sizzles when you inflate at 12%.
He also sells a bunch of stuff.
I have a client that for 5 yrs has squirmed because his 20 yr old term is past the level premium period and is suddenly increasing. We were both young when we wrote it and underwriting gave him a preferred best.
He complained that he had better "quotes" than my conversion option. The only problem is he can't pass underwriting. I told him that I had quotes that were much cheaper than the competition.....he can't buy them either. Conversion rates go up every year. So far, he's taking the renewal. I'll be in business whenever he wants to convert.
Dave expanded on the old AL Williams buy term and invest the difference. It is the same thing no matter what and as every strategy based on many ass/u/mtions. 12% after tax, after expense, after load return, actually investing the difference, actually being self-insured etc.
I'm like everyone else and don't want to spend more on premiums than necessary. I can also tell someone what the least expensive insurance strategy is. All they need to do is tell me when they're going to die.
There is no point arguing. Simply write the term and then the mutual fund.
----------
AND, if you're referring to Dave, he does have integrity AND does motivate people to save money and get out of debt.
Money and no debt are good things. AND, he ignores the assumptions. The pot sizzles when you inflate at 12%.
He also sells a bunch of stuff.
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This article is about annuities but it talks about the problem of the Orman type advice. WL and annuities are two of the safest products out there and they are constantly denounced by Orman, Ramsey, and a bunch of ignorant journalists.
The annuity epidemic: Who's at fault, who's to gain? | LifeHealthPro
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Sounds like my MO. Just wait them out. Aside from the term date. End of the conversion option is another trigger.
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I don't get that type of thought process. Very narrow-minded. Not everything is one-size fits all.
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