AARP Term and Globe

Fraternal insurance companies have the same language about increasing rates (not exactly, but similar) because fraternal companies CAN increase rates on current policy holders.

So I would tread lightly if you're going to replace AARP with a fraternal company.

I'm only bringing this up because the OP is obviously new and may not know this detail when selling.

And you are wrong yet again. That language is not in any fraternal contract that they can raise rates on current policy holders. In fact, it's guaranteed that they won't on whole life.

You may not be new but you don't know what you are talking about.



And capitalizi8ng "CAN" doesn't change the facts.

And you don't bring it up because you think the OP is new. You bring it up to trash fraternals. And falsely at that.

No one mentioned replacing AARP with a fraternal anyway.

And your accusations are illegal if you name a particular company. Wanna go for that one?
 
Fraternal insurance companies have the same language about increasing rates (not exactly, but similar) because fraternal companies CAN increase rates on current policy holders.

So I would tread lightly if you're going to replace AARP with a fraternal company.

I'm only bringing this up because the OP is obviously new and may not know this detail when selling.

I do not know all Fraternal language. However, I believe you are mistaken on the premium not being guaranteed on a Whole Life certificate.

What is not guaranteed is that the cash values and death benefits will not be raided. So I guess it could be argued that the premium is guaranteed but not the cost per thousand or value.
 
Im bringing it up, because in fact, you may pay the same premiums for your life but your family may not receive the DB you originally bought.

Seems relative to what AARP is selling, to a degree.

I am NOT sure of the language, as I originally pointed out, but I am sure of the premise that a certificate is not a policy and can be modified on a group after policies have been in force.

I'm not trashing fraternals, because I can't name one fraternal that has done this, but I don't believe AARP has modified their plans after they've been in force either.

The OP should know all the facts because a sale could easily be botched by using this tactic to replace an AARP policy, so they should be careful. That's really it :)
 
JD do you explain maintenance of reserves to the clients with KSKJ? I've tried to head off that issue when using other fraternals who is to know if the client will actually remember it when someone gets in the house and challenges them on it.

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" The premiums can be changed on a class basis"

That is what AARP puts in a majority of the group certificates, why would they put it there if they didn't need/want to use that at some point?????
 
I do not know all Fraternal language. However, I believe you are mistaken on the premium not being guaranteed on a Whole Life certificate.

What is not guaranteed is that the cash values and death benefits will not be raided. So I guess it could be argued that the premium is guaranteed but not the cost per thousand or value.

Just to throw a bit more grease on the fire...

Of the fraternals that guarantee the rate, but do have the ability to raid cash value, there is generally an option to allow a lower death benefit and/or pay an increased premium to offset the assessment.

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JD do you explain maintenance of reserves to the clients with KSKJ? I've tried to head off that issue when using other fraternals who is to know if the client will actually remember it when someone gets in the house and challenges them on it.

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" The premiums can be changed on a class basis"

That is what AARP puts in a majority of the group certificates, why would they put it there if they didn't need/want to use that at some point?????

They put it there so the CAN. And yes I capitalized can.

I have no idea if NYL, who is the actual insurer, will ever exercise this option or if they ever have. Yet, they do have the right since it is included in the certificate.

Also, since it is issued as a master certificate, in theory AARP could change to a different insurer and the terms may change some. I admit I am not certain, but I suspect this is issued as a group policy with a master certificate held by AARP, not much different than an employer. Just this is sold to individuals with underwriting.
 
I do not know all Fraternal language. However, I believe you are mistaken on the premium not being guaranteed on a Whole Life certificate.

What is not guaranteed is that the cash values and death benefits will not be raided. So I guess it could be argued that the premium is guaranteed but not the cost per thousand or value.

They cannot change the death benefit or the premiums. Both are guaranteed.
 
Call their customer service and watch them get really hot with you when you challenge them on the product being " whole life" when in fact could never says it is in the document.
 
Im bringing it up, because in fact, you may pay the same premiums for your life but your family may not receive the DB you originally bought.

Seems relative to what AARP is selling, to a degree.

I am NOT sure of the language, as I originally pointed out, but I am sure of the premise that a certificate is not a policy and can be modified on a group after policies have been in force.

I'm not trashing fraternals, because I can't name one fraternal that has done this, but I don't believe AARP has modified their plans after they've been in force either.

The OP should know all the facts because a sale could easily be botched by using this tactic to replace an AARP policy, so they should be careful. That's really it :)

Wrong again. The death benefit is fully guaranteed.

You can't name a fraternal that has done that because they can't do that.

And you are using scare tactics. "That's really it".

Either that or you are truly clueless about fraternals?

Either way, a supposed manager should know better than to use scare tactics or should be educated on fraternals.

So just put a name to the fraternal that you are trashing and I will see that you get educated.
 
JD do you explain maintenance of reserves to the clients with KSKJ? I've tried to head off that issue when using other fraternals who is to know if the client will actually remember it when someone gets in the house and challenges them on it.

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" The premiums can be changed on a class basis"

That is what AARP puts in a majority of the group certificates, why would they put it there if they didn't need/want to use that at some point?????

I always told people when I'm recommending a fraternal, whether it is RNA, Foresters or KSKJ, what a fraternal is and the difference.

I have led with a fraternal company for 9 years. I've had to learn how to fight the naysayers.

I do tell people that the competition will trash the fraternal status. I simply tell them to have the accuser put the accusations in writing.

Most of the competing agents are smart enough to not put any of those accusations in writing. So that blows up on them when the client asks them to write it down.

I know of a situation now in Az where a dumbass agent left a voicemail with her name and her company and then proceeded to trash fraternals.

I also know she is now dealing with the Az DOI and the legal dept of the company she trashed.

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Guaranteed by who?

But they can modify the policy, right?

You can't truly be that stupid?

It's guaranteed in the policy. That means it's guaranteed by the company that issued the policy.
 
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