Riders for FE Plans . . .


Since the Child Rider is paid up on death of primary insured and guaranteed convertible to WL for the "brats" @ 4 to 6 times their face - they really don't need their own.

Now - Spouse is different story. If they can afford it - spouse should have at least $10k WL themselves + they can have the extra coverage on their spouse's WL policy with the Term Rider . . .

I'm writing a $25k WL on a single Mom that has 3 kids on Tuesday. It will only cost her $2.25 a month to cover all 3 kids @ $9k - which they can convert to $45k guaranteed . . .
First of all, how can you determine what anyone "needs" before you do any fact finding with them. Second, if you write the spouse their own WL, why you also put a spouse term on them when it would be cheaper to just put a term rider on their own policy in most cases.
 

Since the Child Rider is paid up on death of primary insured and guaranteed convertible to WL for the "brats" @ 4 to 6 times their face - they really don't need their own.

Now - Spouse is different story. If they can afford it - spouse should have at least $10k WL themselves + they can have the extra coverage on their spouse's WL policy with the Term Rider . . .

I'm writing a $25k WL on a single Mom that has 3 kids on Tuesday. It will only cost her $2.25 a month to cover all 3 kids @ $9k - which they can convert to $45k guaranteed . . .

What are the children guaranteed convertible to? I am a fan of child riders as well.
 
Consider yourself enlightened.

Thanks - interesting . . . That video isn't quite accurate. But was able to google a few things . . . Shame on them. Seems they paid a hefty price and cleared house . . .

They certainly didn't profit $190 million . . .
 
Thanks - interesting . . . That video isn't quite accurate. But was able to google a few things . . . Shame on them. Seems they paid a hefty price and cleared house . . .

They certainly didn't profit $190 million . . .

You mean they got caught, tried to buy their way out and scapegoated a few people. I am an independent agent. As such I can pick and choose who I work with. I will not write them. I also share my opinion of them when I run across them.
 
Enlighten me. Who would you use for a 40 year old couple with three kids 16, 14, 12.

I only have 3 ( by choice ) . . .

First of all, how can you determine what anyone "needs" before you do any fact finding with them. Second, if you write the spouse their own WL, why you also put a spouse term on them when it would be cheaper to just put a term rider on their own policy in most cases.

Non-Med WL isn't cheap - so basically their needs in my opinion, are what they think they can afford. Not talking $200k Term - just simple amounts of WL to cover basic Final Expenses . . .

The carriers I use don't offer a Term Rider in addition to the WL for the primary insured. Yes - I realize that some do - but, mine don't.


What are the children guaranteed convertible to? I am a fan of child riders as well.

WL up to 4x - 6x what ever their Rider face is / was . . . But you knew that already I'm sure . . .:biggrin:

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I am an independent agent. As such I can pick and choose who I work with.

Yes you can . . .
 
Not really...they all have the same mother. jk

Every year I have multiple child riders that age out. I get the opportunity to convert or rewrite them. Some are married, have children or simply want coverage. Some do not want to do anything but the parents are happy to do a policy on them and or their children. It also gives me a chance to review the owner/parent needs and wants. Many times I also get an opportunity to quote their parents.

When I was working more new clients I AOR'd many term plans many had child riders. Primerica is great for that. While I can not AOR them I can help service them.

People pay +- $28. For little more than a name and maybe a phone number on a piece of green card stock. Many of which do not answer the phone or return calls.
 
People pay +- $28. For little more than a name and maybe a phone number on a piece of green card stock. Many of which do not answer the phone or return calls.

Thankfully I have no risk on lead cost . . .
 
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