Single Pay in Florida

[Agentguy5]

Every now and then I find myself at the NOT so usual FE client with a BMW and they already got plenty of money put aside

I have never sold a Single Pay Whole Life policy before, and am curious

1. What carriers would you recommend in FL
2. Are these simplified products, are they only fully underwritten, or are there any like FE that only make the decision based on the outcome of the Script and MIB checks?

Thanks in advance

 

[Lewis_FL]

Assurity has SPWL. fully underwritten except for small face amounts. Royal Neighbors has a simplified issue SPWL. may be some others. MN Life I think.

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Or you could show them something like Lincoln's MoneyGuard hybrid UL/LTC single premium product. If they change their mind later on it has ROP. Depends on what they're trying to do...

 

[bboman23]

Assurity
RNA
Settlers
Baltimore Life
Oxford

 

[Agentguy5]

I just got a spam from this guy and they show a couple carriers that are simplified

https://www.urlinsgroup.com/images/downloads/spl/1117_SPL_Comparison.pdf

 

[Lewis_FL]

Genworth's TLC is good if they're Preferred and want a UL/LTC product with a ROP walkaway value.

 

[cowgoesMoO]

Foresters

I've never written a foresters policy....ever, but it seems like their single premium would fit perfect. Commish is sweet too....

There might be face value limits or something else that I'm missing. Just thought it strange that no one mentioned them yet.

 

[Newby]

Every now and then I find myself at the NOT so usual FE client with a BMW and they already got plenty of money put aside I have never sold a Single Pay Whole Life policy before, and am curious 1. What carriers would you recommend in FL 2. Are these simplified products, are they only fully underwritten, or are there any like FE that only make the decision based on the outcome of the Script and MIB checks? Thanks in advance

Oxford and RNA both have single pays that are underwritten exactly like their FE products but use a separate app. Those two both pay high commission and quote easily with their phone calculator.

Settlers goes one better on the app. It's the regular FE app. You just check the single pay box instead of life pay. Great phone Calc too but pays about half the commission of Oxford RNA unless the applicant is younger than 60.

Once you write one you will run into them fairly regular if you look for them.

 

[Gooner]

Oxford and RNA both have single pays that are underwritten exactly like their FE products but use a separate app. Those two both pay high commission and quote easily with their phone calculator. Settlers goes one better on the app. It's the regular FE app. You just check the single pay box instead of life pay. Great phone Calc too but pays about half the commission of Oxford RNA unless the applicant is younger than 60. Once you write one you will run into them fairly regular if you look for them.

Problem is that if you write it with Settlers and do the enhanced POS interview, they might change their minds...I've witnessed it.

 

[Birdman300]

Foresters

I've never written a foresters policy....ever, but it seems like their single premium would fit perfect. Commish is sweet too....

There might be face value limits or something else that I'm missing. Just thought it strange that no one mentioned them yet.

I need to know more about the SPWL with Foresters. I've got one coming up next week. Helping a lady replace her old crashing UL. I'd rather use Foresters than another carrier that I've been known to use in the past. Foresters has been my new go-to carrier. I'm gonna check that one out.

 

[Newby]

Problem is that if you write it with Settlers and do the enhanced POS interview, they might change their minds...I've witnessed it.

Not limited to Settlers unfortunately. RNA did to me. Oxford did to JD.

It's a full house.