Insurance Agent Forum

[midwestbroker]

I have a client who has a life insurance policy (has had it for years) with a cash value of $10,000. He said the death benefit is $10,000.

So, he want to take the cash value and roll it into another policy that will give him more death benefit. He is 65 & in good health (didn't get into his health situation that much).

Any ideas?

I am calling Lincoln Financial Group to talk to them about a life policy with LTC benefits to get some ideas on that.

Thanks!

[James]

Not sure but on one hand you said he wants more DB, which shouldn't be hard to do at all. Yet why are you looking into LTC Ryder? Does he want that do?

[midwestbroker]

I was giving him some options and he expressed interest in that.

With Lincoln Benefit, a $10,000 single premium would yeild at $16,000 death benefit, and the min death benefit for the policy is $25,000.

John Hancock has a sim product and I am looking into that.

I have an illustration from ING for a 14.5 year term product that would have a $50,000 DB.

I am still shopping around though...

[midwestbroker]

Sorry, not a term policy, it is UL.

[johncm]

Amerus has a good single premium product. I have not had the chance to try it but the info seems to fit your client to a "t". It is even linked to an equity index if he likes or just fixed.

[senior-advisor-indiana]

Originally Posted by rich0606

I am sure that you have figured this out by now.

Why would you think that? You should never assume anything. Are you trying to raise your post count?

[GreenSky]

On August 3, 2004 I went into Chili's for dinner. Can someone let me know what I should order?

Rick

[insuranceexec]

Originally Posted by GreenSky

On August 3, 2004 I went into Chili's for dinner. Can someone let me know what I should order?

Rick

Would you like indigestion or the runs?..............LOL

[Dave020]

Originally Posted by GreenSky

On August 3, 2004 I went into Chili's for dinner.

Rick

That was your first mistake.

[billyb2909]

I have a client who has 250k, and he wants access to it and isnt as concerned about the growth. Just the safety of the product. Who would have the highest interest earning single premium whole life? He is 57?

[Edson]

A 65 year old male non-smoker at standard health class could get a 25k single premium UL with Genworth through age 109, where it lapses. If he qualified for preferred, it would not lapse.

I can e-mail you the illustration if you'd like.

[dgoldenz]

This post is 3 years old...

[billyb2909]

Originally Posted by Edson

A 65 year old male non-smoker at standard health class could get a 25k single premium UL with Genworth through age 109, where it lapses. If he qualified for preferred, it would not lapse.

I can e-mail you the illustration if you'd like.

I would appreciate that, it is 250k instead of 25k just to be sure. My email is bberryman_00@hotmail.com, and send the comp on that product as well.
Thanks,

[dgoldenz]

That Genworth UL is going to kill the cash value....are you saying he has $250k to buy a single-premium policy with, or he wants a $250k death benefit?

[Edson]

Originally Posted by billyb2909

I would appreciate that, it is 250k instead of 25k just to be sure. My email is bberryman_00@hotmail.com, and send the comp on that product as well.
Thanks,

I was actually replying to the original post, which I did not realize was from 2006. Dgoldenz is right, the UL would kill the cash value in no time at the guaranteed 3%.

[padthaiforlunch]

Where is the money now?

Originally Posted by billyb2909

I have a client who has 250k, and he wants access to it and isnt as concerned about the growth. Just the safety of the product. Who would have the highest interest earning single premium whole life? He is 57?