I need to know if you know of any good companies with cheap term rates. I am looking for 20-30 year term on a couple. Male 61 NT Female 58 NT. They have a second mortgage, that they want covered in case one of them passes away. It is a 25 year mortgage. It would need to have at least a 125,000 death benefit.
They want to pay less than $100/month. I have not found any rates anywhere close to that.
I would quickly run a 10 yr, 15 yr, & 20 yr option for that face amount (don't run it at super pref. rates either, be realistic given your field underwriting), call them on the phone, then tell them "this is the range you are looking at for premiums. Does it make sense for us to look deeper into this or should I look further into the options?"
I need to know if you know of any good companies with cheap term rates. I am looking for 20-30 year term on a couple. Male 61 NT Female 58 NT. They have a second mortgage, that they want covered in case one of them passes away. It is a 25 year mortgage. It would need to have at least a 125,000 death benefit.
They want to pay less than $100/month. I have not found any rates anywhere close to that.
$100 for each? or $100/month for both. Genworth is about $42/month for her and $78/ month for him..
Cincinatti Life is 70-120 for him depending on health, and between 38 and 55 for her.
Its dangerous to quote perfered rates on a 61 year old. 55+ clients are rated probably 80% of the time with most reputable companies.
PM me if you need more help
Cincinatti Life is 70-120 for him depending on health, and between 38 and 55 for her.
Its dangerous to quote perfered rates on a 61 year old. 55+ clients are rated probably 80% of the time with most reputable companies.
PM me if you need more help
Are you getting your clients from a nursing home? The amount of policies with ratings on age 55+ is nowhere near 80%...
Are you getting your clients from a nursing home? ...
That is funny.
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Just a side note to Cinci. Got to have E&O. Better have it anyway, but some do not.
Originally Posted by scagnt83
Cincinatti Life is 70-120 for him depending on health, and between 38 and 55 for her.
Its dangerous to quote perfered rates on a 61 year old. 55+ clients are rated probably 80% of the time with most reputable companies.
PM me if you need more help
"It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is the most adaptable to change." Charles Darwin
Last edited by WinoBlues : 10-22-2009 at 05:24 AM.
Reason: Posts merged
Cincinatti Life is 70-120 for him depending on health, and between 38 and 55 for her.
Its dangerous to quote perfered rates on a 61 year old. 55+ clients are rated probably 80% of the time with most reputable companies.
PM me if you need more help
She will probably be rated, she takes medicine for high blood pressure, and had a cancerous tumor removed 9 years ago. Clean bill of health since, other than the blood pressure. He is in good health.
She will probably be rated, she takes medicine for high blood pressure, and had a cancerous tumor removed 9 years ago. Clean bill of health since, other than the blood pressure. He is in good health.
She cold probably get a standard rate if you shop the case.
Fildeity Life has a 40 yr. term for the mortgage product, but it would not be vialble for this case.
On the surface, it seems they will have to compromise somewhere (face or term) to get within the target price. Better something than none at all.
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Genworth's FlexPlus II (UL) is really competitive for that age group as well. I find their underwriting to be a bit tight sometimes, but normally they will be very competitive.
20 or 30 Year Term Insurance
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