JMarketing
Expert
- 38
Hello all
For the last year I've done well with writing nearly all SIWL Final Expense policies. In the last 12 months I think I wrote a pretty hefty amount of annual premium and I have very few complaints.
I won't delve into the whole discussion on whether a term, whole life, or UL policy for a client is best because I believe that's dependent on each client, their comfort level, what they need, etc., Suffice to say I know that there are definitely places for term policies and I'd like suggestions for companies that fit any of the following criteria since I know a lot of agents on this forum write a little bit of everything....
1). Term companies with great rates.
2). Terms with no paramedical exam - I don't care if it's SIWL or Fully Underwritten. However, what's key to this is my ability to know whether or not a client will be approved/declined/or rated based on information in an agent guide of some sort. AKA, NOT having to call and get a pre-risk analysis.
3). Terms that do 5-year band increases but, ideally, last past age 80 (unlike AARP). I amortized a 30 year period for a client the other day comparing AARP to Oxford life and, even with the price increases listed by AARP, she was better off cost wise to stick with AARP. She was strangely comfortable with the policy ending at age 80 but it at least made me realize that (regardless of comfort level with policy ending at 80) there is a demographic of people who prefer a "lower" price now when the increase down the line still puts them at an overall cost output that is lower than whole life...
4). Terms that'll issue a policy on older folks. I've got all kind of term options that have maximum age limitations of 60 and 65 years old. After that it seems to be tough to get a term to issue...
5). I love return-of-premium riders on term plans...I've got a couple different companies that offer that (Liberty Bankers, American Amicable, Omaha, etc.,) but not much more then that.
Thanks for your input!
For the last year I've done well with writing nearly all SIWL Final Expense policies. In the last 12 months I think I wrote a pretty hefty amount of annual premium and I have very few complaints.
I won't delve into the whole discussion on whether a term, whole life, or UL policy for a client is best because I believe that's dependent on each client, their comfort level, what they need, etc., Suffice to say I know that there are definitely places for term policies and I'd like suggestions for companies that fit any of the following criteria since I know a lot of agents on this forum write a little bit of everything....
1). Term companies with great rates.
2). Terms with no paramedical exam - I don't care if it's SIWL or Fully Underwritten. However, what's key to this is my ability to know whether or not a client will be approved/declined/or rated based on information in an agent guide of some sort. AKA, NOT having to call and get a pre-risk analysis.
3). Terms that do 5-year band increases but, ideally, last past age 80 (unlike AARP). I amortized a 30 year period for a client the other day comparing AARP to Oxford life and, even with the price increases listed by AARP, she was better off cost wise to stick with AARP. She was strangely comfortable with the policy ending at age 80 but it at least made me realize that (regardless of comfort level with policy ending at 80) there is a demographic of people who prefer a "lower" price now when the increase down the line still puts them at an overall cost output that is lower than whole life...
4). Terms that'll issue a policy on older folks. I've got all kind of term options that have maximum age limitations of 60 and 65 years old. After that it seems to be tough to get a term to issue...
5). I love return-of-premium riders on term plans...I've got a couple different companies that offer that (Liberty Bankers, American Amicable, Omaha, etc.,) but not much more then that.
Thanks for your input!
