Insurance Agent Forum

[nonie]

I have a 41 year old male client with sickle cell in Texas, he had a heart attack three months ago at which time he was given a stent and diagnosed with congestive heart failure.

Does anyone know of a final expense company, other than Presidential, that could write him graded or return of premium?

[Newby]

Americo, Settlers, Mutual of Omaha, ForeThought

Probably some more out there too.

[WinoBlues]

Note: I would not get an advance and check the charge back stipulations for death in year one.

CYA

Originally Posted by Newby

Americo, Settlers, Mutual of Omaha, ForeThought

Probably some more out there too.

[jdeasy]

Originally Posted by WinoBlues

Note: I would not get an advance and check the charge back stipulations for death in year one.

CYA

If they chargeback for death in the first year, it doesn't matter if it was advanced or earned, they charge it back.

Lincoln Heritage would cover the guy. They also won't chargeback any earned commissions for death in the first year.

[Chazm]

^yeah, but if you get advanced the whole year you may spend it right away to pay bills, etc.

[WinoBlues]

Full benefit, Graded or ROP?

Thanks

Originally Posted by jdeasy

If they chargeback for death in the first year, it doesn't matter if it was advanced or earned, they charge it back.

Lincoln Heritage would cover the guy. They also won't chargeback any earned commissions for death in the first year.

[jdeasy]

Originally Posted by WinoBlues

Full benefit, Graded or ROP?

Thanks

It would be what they call their "modified" plan. It is ROP plus 10% for death in the 1st year and ROP plus 20% in the 2nd. It's paid up in 15 years. So, at age 56, your client would have his policy paid in full.

$10,000 would cost about $74/mo. They will go to $15,000, that would cost $109/mo.

I don't care for LH, but, it's an option for him.

[WinoBlues]

Yeah, a mod WL sounds like his best bet. That plan does not sound too bad.
I do not know mutch about LH other than some horror stories about hugh lead balances and some real sleazy "managers". In fairness this was a while back. And I am not a lead guy. But again this mod plan sounds interesting. Do they have a ratio of how many mods you can write vs standard SIWL?

Thanks

Originally Posted by jdeasy

It would be what they call their "modified" plan. It is ROP plus 10% for death in the 1st year and ROP plus 20% in the 2nd. It's paid up in 15 years. So, at age 56, your client would have his policy paid in full.

$10,000 would cost about $74/mo. They will go to $15,000, that would cost $109/mo.

I don't care for LH, but, it's an option for him.

[jdeasy]

Originally Posted by WinoBlues

Yeah, a mod WL sounds like his best bet. That plan does not sound too bad.
I do not know mutch about LH other than some horror stories about hugh lead balances and some real sleazy "managers". In fairness this was a while back. And I am not a lead guy. But again this mod plan sounds interesting. Do they have a ratio of how many mods you can write vs standard SIWL?

Thanks

As far as I know they don't put a limit on how many an agnet write as compared to the standard. You don't have to take leads from LH to write their products.

I don't write for them anymore. You could get a good contract with them thru some of the posters here. I believe Win and insurancexec both have LH contracts.

[WinoBlues]

Thanks. I am pretty happy with the companies I have. However, I could see that the 15 year pdup could be the closer on a mod policy.

Thanks again

Originally Posted by jdeasy

As far as I know they don't put a limit on how many an agnet write as compared to the standard. You don't have to take leads from LH to write their products.

I don't write for them anymore. You could get a good contract with them thru some of the posters here. I believe Win and insurancexec both have LH contracts.