Case and Contracting help

[CblueNC7]

Hello Forum,

1st post been floating around the forum for a few months but have run across a snag.
I need help with a case i'm working on for a 37yr old male that is a believe it or not part-time pilot, NS, for 500K term and 50K whole life no importance on cash value but willing to listen to options.

39 yr old female whose nearest age is 40, NS.

2 kids, they want whole life policies of 50k a piece...3yr old girl, 4 yr old boy.

All are in perfect health, no meds, no weight problems.

Problem is i have been writing final expense and do not have a go to term company or fully underwritten whole life product that's priced reasonable with good features since going independent from being captive with Transamerica. I am not appointed to currently sell their term but I know their product portfolio and would like to add a few others.

The couple has been quoted by a financial planner with Midland National on whole life for 50K that I believe is UL pricing but they weren't provided any illustrations to verify these prices but they are as follows...
Male 37
$500k - $56.76,
50k FUWL - $46.50

Female 39
$500k - $57.20
50k FUWL - $46.96

3yrs old girl
50k FUWL- $16.25

4yr old boy
50k FUWL- $18.87

Let me know if anyone can verify these rates or can provide contracting to companies to close this deal and many more.

Thank you

 

[DHK]

I'd contact Ohio National - particularly since they have a thing for pilots.

They are a forum sponsor.

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Midland National doesn't have whole life anymore.

They have UL and IUL, but no whole life.

I have no idea what a FUWL is.

That couple should NOT use that "financial planner" for anything with life insurance ever again. There are big differences between UL, IUL, and WL... and he has already failed that test. If you can explain that to your client, you should win them over quite easily.

 

[CblueNC7]

I'd contact Ohio National - particularly since they have a thing for pilots.

They are a forum sponsor.

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Midland National doesn't have whole life anymore.

They have UL and IUL, but no whole life.

I have no idea what a FUWL is.

That couple should NOT use that "financial planner" for anything with life insurance ever again. There are big differences between UL, IUL, and WL... and he has already failed that test. If you can explain that to your client, you should win them over quite easily.

Good to know and I'll contact them. The the FU is just fully underwritten, i'm kind of a detailed guy. I'm assuming contracting through an FMO who offers Ohio National is easier and will offer a better contract than going direct.

 

[DHK]

Ohio National ONLY goes direct. If you are in a PGA state, then you'll be offered a PGA contract. If you're in a career-agency state, then you'd probably be referred to a local GA. I'm pretty sure NC is a PGA state. It's a decent and competitive selling contract.


Normally FIUL would stand for Fixed Indexed Universal Life... so a FUWL would look like a Fixed Universal Whole Life on the forum... which such a product doesn't exist.

 

[CblueNC7]

Ohio National ONLY goes direct. If you are in a PGA state, then you'll be offered a PGA contract. If you're in a career-agency state, then you'd probably be referred to a local GA. I'm pretty sure NC is a PGA state. It's a decent and competitive selling contract.


Normally FIUL would stand for Fixed Indexed Universal Life... so a FUWL would look like a Fixed Universal Whole Life on the forum... which such a product doesn't exist.

Can definitely see why that would be confusing. Thanks for the info

 

[Larry Tew]

Can definitely see why that would be confusing. Thanks for the info

NC is a PGA state. Email me at [email protected] and I can introduce you to their Regional Officer.

 

[CblueNC7]

What carriers do you guys use for term and WL and any FMO you recommend going through? I was looking into partners advantage but they want me to assign my commissions and I'm not familiar with many FMOs.

 

[R. Paul Aguirre]

What carriers do you guys use for term and WL and any FMO you recommend going through? I was looking into partners advantage but they want me to assign my commissions and I'm not familiar with many FMOs.

For Term we use banner or Trans a lot, occasionally American General(AIG) will have the best price if the agent is looking for the cheapest option. The last few years however the living benefits term products have been taking a large portion of our term sales. With the LB products our major ones are AGLA, Trans and LSW thought there are others. WL we don't write any actual "Whole Life" policies anymore, our agency does a lot of GUL for guarantees and IUL for cash building. Find yourself an agency that has access to a large number of carriers and get to know the products.

 

[Gabe9175]

I can provide contracting at 105% on term and 95% on WL if you are interested.