- 1,206
Anyone know of a simplified issue single premium?
61 male had 2 heart attacks 12yrs ago.
61 male had 2 heart attacks 12yrs ago.
Single Premium Life
- Thread starter indiana260
- Start date
- 29,487
Settlers Life has single premium $506.40 per thousand N/S....$597.10 Smoker. Oxford Life also has single premium can't quote you...my rates are out in the car and I'm not putting my pants on to go get them.
- 122
Just curious but is it common in FE to meet someone who wants a 10 or 20 pay policy or a single premium policy?
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- 29,487
I don't think it's common at all. Most FE customers can't afford to pay any other way but lifetime payment. I'd say your next most common way is the 20 pay.
- 6,994
Only time I've done it is with Settlers on the grandchildren.
Usually only a few bucks difference in premium for kids.
- Thread starter
- #6
- 1,206
It is rare. I would place this particular Single premium with fully uw but he won't pass.
10&20 pay is also rare. If they are under 65 sometimes it makes sense.
10&20 pay is also rare. If they are under 65 sometimes it makes sense.
- 122
Would a 10 pay make sense for a healthy 69f if she could pass fully underwritten? How do you judge if a 10pay or a 20pay would work better for a client? I'm a new agent just want to learn more
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- 29,487
Can she afford the 10 pay premium? The 10 or 20 pay are usually used so they can have the policy paid up by the time they stop working.
- Thread starter
- #9
- 1,206
If she can pass uw then you should show her the 10pay fully uw..
I just use it when someone says they will pay more in them they will ever get out. Like when they say. .. 50/month is 600/yr. I will lose money if I live 15yrs.
I say let me look at a ten pay then do the math. Depending on age they may break even our post slightly more or less. Not always tho. Depends on age.
Then you say. " look at it this way. Your going to pay in an extra 500 over the next ten years (10500 for 10k db). I know that doesn't seem like a good deal but if you for in the next 9 years it is. If you live its like you don't $50/yr to feel secure. Your home owners and auto cost far more and you will never get a dime unless something bad happens. So your throwing your money away. With this policy your Bene WILL get paid. So your not throwing your money away"
I'm a nut shell. .. use 10/20 pay to over come objections and increase commissions
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Settlers Life has single premium $506.40 per thousand N/S....$597.10 Smoker. Oxford Life also has single premium can't quote you...my rates are out in the car and I'm not putting my pants on to go get them.
I can't figure the quote. I am coming up with a huge db. Can you tell me what a 61 male n/s 24000 single premium with settlers would get?
- 29,487
Assuming he can qualify for the Gold plan(if the 2 heart attacks 12 years ago is all he has wrong with him, then he should)...then for $23,800.80 he can buy a $47,000 policy. Single premium's also available on the Silver plan @ $532.70 if he doesn't qualify for the Gold plan.
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