Insurance Agent Forum

[NoFault]

Please give me some life carriers that will specialized in the following criteria.

Life carrier
My target market is 45+ years old
UL, or WL
Preferred to be non-med or light med
Premium is competitive, for instance a 67 years old female, 100K for around $150/month.
Fast underwriting
Good commission

I heard Aviva is pretty good, but have not had a contract with them yet.

[dgoldenz]

You aren't going to find any non-med companies for those kind of rates. Even a preferred non-smoker health female age 67 for $100k no-lapse UL would be right around $150/month. You could probably expect $300-400/month for non-med.

[NoFault]

Okay then what are the good life insurance carriers for people over 45 who wants only a permanent insurance, e.g whole life and universal life. What attracts them best is the price, and that it's permanent, not the subaccount...

[dgoldenz]

If you've got people shopping on price only and just want the cheapest coverage guaranteed forever, whole life will be a waste of your time. The companies with the best rates for no-lapse UL are usually Aviva, Sun Life, West Coast Life, Transamerica, John Hancock, ING, Banner, and Prudential. I would suggest investing in a copy of Compulife as it will help you narrow down which companies give the best rates based on varying demographics.

[jdeasy]

Originally Posted by NoFault

Okay then what are the good life insurance carriers for people over 45 who wants only a permanent insurance, e.g whole life and universal life. What attracts them best is the price, and that it's permanent, not the subaccount...

It's hard to beat RNA's underwritten whole life. For that 67 year old, the best rate for $100,000 whole life is $248/mo.

That's with RNA. They do have UL in some states.

[souldeux]

Originally Posted by dgoldenz

If you've got people shopping on price only and just want the cheapest coverage guaranteed forever, whole life will be a waste of your time. The companies with the best rates for no-lapse UL are usually Aviva, Sun Life, West Coast Life, Transamerica, John Hancock, ING, Banner, and Prudential. I would suggest investing in a copy of Compulife as it will help you narrow down which companies give the best rates based on varying demographics.

Throw North American in there, too. The CustomGrowth CV with the waiver of surrender charge option is pretty darn cheap.

[TristanTLC]

North American is a great option for this. If you are looking for a cheap product, then whole life is the wrong way to go. Most UL products are going to be cheaper than Whole. Just find a UL policy with a lapse protection and will stay to 120 or at least 100.

[Full Throttle]

Find a prospect, use a MGA to fit the criteria for that specific case, write the policy for the carrier that fits, rinse and repeat. If you're working a niche like you mentioned, you'll find most go will fit with the same carrier if they're healthy.

[Edson]

Of the companies I represent, Genworth has the cheapest no lapse UL policy. At their best class (Preferred Best - NS), a 67 year old woman would pay $158.46 for 100k.

I agree with jdeasy about RNA. Their underwritten WL has some great rates. I recently had a 50k WL placed on a 54 year old male in under a week from the date it was submitted.