Competing Against Globe Life

dallas1

Expert
46
Met with a lady yesterday who had 4 grandchildren and 3 adult children insured with $10,000 coverage each through Globe Life. She is paying next to nothing for all these policies. I know the horrors of Globe Life as far as premiums going up every 5 years and their problems with paying claims, but what company is a competitive option for my client. Thanks in advance.
 
Met with a lady yesterday who had 4 grandchildren and 3 adult children insured with $10,000 coverage each through Globe Life. She is paying next to nothing for all these policies. I know the horrors of Globe Life as far as premiums going up every 5 years and their problems with paying claims, but what company is a competitive option for my client. Thanks in advance.


All Globe is not term. They do have whole life policies. What you need to do is look at the policies and see if you can improve the situation. If you can't, tell them so.

If you can improve it, show them how. No way to know what company is competitive without knowing what your competing against.
 
Met with a lady yesterday who had 4 grandchildren and 3 adult children insured with $10,000 coverage each through Globe Life. She is paying next to nothing for all these policies. I know the horrors of Globe Life as far as premiums going up every 5 years and their problems with paying claims, but what company is a competitive option for my client. Thanks in advance.

My method is not the FE market method. I do not sell company or premium. I present me and if they see me as a value to them they buy me.

I may ask them when they plan on dying. On policies that go up I project the premiums out say 20 years. You should be able to find the premiums in the policy. Then figure what the average monthly premium is. Many times I show I can beat increasing term with level term or GUL. Then I move on to fix whatever they see as their problem.
 
All Globe is not term. They do have whole life policies. What you need to do is look at the policies and see if you can improve the situation. If you can't, tell them so.

If you can improve it, show them how. No way to know what company is competitive without knowing what your competing against.

Even Globes Whole Life is an increasing premium whole life. If their is enough cash value in the policy the increase is taken out of that when the cash value is drained then they see the increase.
 
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