Saw 2 leads today who had recently bought AARP and 1 who bought Globe. Male 65T Globe was $45 and my WL was $102. Male 65T AARP was $50 and my WL was $102. Didn't sell either. Did convince a woman with AARP to add a $10,000WL. How do y'all handle this when the premium is more than double what they are paying and they think they will die before age 80?
AARP Term and Globe
- Thread starter billyb
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- 1,206
Very basic situation.
Who is your upline.
If they aren't teaching you these things, providing fixed cost direct mail leads and giving to contracts you need to look elsewhere
- 18,988
Term is cheaper than whole life?? Who woulda thunk it??
What's the WHY? If it's a want of temporary coverage then other company term plans will blow AARP away. If it's a permanent want then the AARP is no issue.
Even the so called "permanent" of AARP says right in the policy that the premiums are not guaranteed. Easy to compete against.
And the premiums will even out. You should have the aarp rate chart with you to show them how much it will cost at age 65, 70 and 75 before it ends at 80 and a day.
And also show them that AARP can raise the rates at anytime they want. Not just at those 5 year bands.
- Thread starter
- #4
AARP doesn't charge for smoking so I am not aware of any term policy sold that is less expensive at tobacco rates. I did compare the increase every 5 years and even at age 75 it wasn't as high as WL. Adding some WL to what they have is what I tried to do. Never seen AARP raise rates.
Seniors are living WAYYY past 80 these days. And remind them that their rates WILL increase with term insurance. The term policies DO NOT build any cash value, basically sell them on the benefits of permanent whole life insurance that is intended to protect their families from having to drop $15k unexpectedly
- 24,973
As JD said. Choke them with their own rope.(their policy facts) OK, he did not say it as eloquently as I. However, ask them when they plan on dying and if they want what they bought guaranteed to be there for their family. If you are competing with these group plans or a certificate point out the differences. "Of course, the clerk or agent covered this with you, right?" A simple Ben Franklin on a legal pad or a napkin does it.
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- 913
Do you happen to have a copy of an AARP WL policy that shows the language about the premiums not being guaranteed?
- 18,988
It says right in the policy that they can raise the rates at any time. I don't know of them actually doing it either. But if they are going to guarantee the rates then why not say so.
And it seems you need a term quoter. There's a half dozen free ones. You realize they don't publish the rate increase for age 75?
You have to call them for that one. The reason, it just about doubles.
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Yes. The one I have is old and the new policies spell it out even better that the rates can increase.
I find it's always better to show them in their own policy rather in something from somewhere else.
And if they don't have a policy already with AARP and you are fighting something that doesn't exist then you are fighting a ghost.
I don't fight ghosts. That's my key to leave these idiots and on to next.
- 1,912
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.
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.
- 3,990
Let's open up the fraternal Pandora's box again
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