Insurance Agent Forum

[loginname]

Who sells this product? A partner of mine has a client asking about it. He wants to be able to provide a quote and compare to level term.

[moonlightandmargaritas]

Originally Posted by loginname

Who sells this product? A partner of mine has a client asking about it. He wants to be able to provide a quote and compare to level term.

This product is a dinosaur.

Used to be used for mortgages, but since term insurance has become so cheap, there's no need for it anymore....

[loginname]

I know, but I need a quote for comparison purposes. I know companies are still writing it, but they are the rinky dink companies.

[CHUMPS FROM OXFORD]

There's a decent chance that a level 20-year term will be less expensive than a mortgage term from one of those "rinky dink" companies.

[moonlightandmargaritas]

Originally Posted by CHUMPS FROM OXFORD

There's a decent chance that a level 20-year term will be less expensive than a mortgage term from one of those "rinky dink" companies.

My point exactly Ed. Who offers it?

[CHUMPS FROM OXFORD]

Good question. I have seen them as riders on permanent policies, but not stand alone policies.

[Winter]

Originally Posted by loginname

Who sells this product? A partner of mine has a client asking about it. He wants to be able to provide a quote and compare to level term.

To answer your question, Old Mutual/Fidelity and Guaranty offers it. I certainly doubt that there is anyone who offers an underwritten decreasing term product. So you are going to have to compare decreasing non-med term to basic non-med term.

Winter

[arnguy]

A few years ago a company called Family Life offered it. I don't know if that still holds true, but it may be worthwhile to check it out ("google").

[ims01]

VBA offers one also. But like everyone said. It is junk and will not save your client any money.

[jaguar99]

Originally Posted by moonlightandmargaritas

My point exactly Ed. Who offers it?

American Income Life ( a Torchmark Company) offers this and the most expensive 10-year term on planet earth. Since the level term is so expensive, there are agents who suggest this product (because of the way it amortizes) as a form of income protection as well.

[Imladris]

Liberty National (also a Torchmark Company) offers it as well, but many producers don't even offer it because usually their other products will better meet their needs.

[Markingriffin]

I would never sell this product.

[xrac]

Originally Posted by Markingriffin

I would never sell this product.

Ditto!

[The Rabbi]

Who is the expert? The agent or the client? Who's in charge here?

I fire prospects if they want to control the conversation. Said goodbye to one this am.

[Insurance Phoenix]

In most circumstances a client's life insurance needs do not decrease. You may have the one in a few that has his/her finances in order and needs something to cover a specific loan amount over a specific period of time.

I think you may find a basic 10/20/30 year level term plan the same or less premium anyway.

[Winter]

Originally Posted by Insurance Phoenix

In most circumstances a client's life insurance needs do not decrease. You may have the one in a few that has his/her finances in order and needs something to cover a specific loan amount over a specific period of time.

I think you may find a basic 10/20/30 year level term plan the same or less premium anyway.

They would be less particularly since I doubt that there are any fully underwritten decreasing term plans. They would all be non-med.

Winter

[arnguy]

Ims01, what or who is VBA?