Competing with Farmers

I am somewhat new in the FE arena but have an opportunity to sell a set UL policies because the person is upset with her agent (he hit on her, and wouldnt stop). I am contracted with Foresters, Americo, Assurity, TA and RNA. None of them come close to her premiums for her and her children. She is 39 with children 23, 19, 18 and 3. I viewed the policies. Is there any place I can check to be competitive?
 
The UL must be minimally funded. A 'stripped' UL policy is inexpensive compared to any kind of WL policy.

However, minimal premiums on UL are NOT guaranteed level.

So you need to get familiar with how contracts are structured and compare the merits of her current contract structure... with what you need to propose.

In short, this is not a premium consideration. This is a contract consideration.
 
I am somewhat new in the FE arena but have an opportunity to sell a set UL policies because the person is upset with her agent (he hit on her, and wouldnt stop). I am contracted with Foresters, Americo, Assurity, TA and RNA. None of them come close to her premiums for her and her children. She is 39 with children 23, 19, 18 and 3. I viewed the policies. Is there any place I can check to be competitive?

What DHK said.

First if you have not done so yet you need to look at the policy. I always take cell phone pictures of the spec page, tables and app. What does she really have? P&C agents are notorious for blending term and UL. Second get ahold of her Annual Report. It will tell you when the guaranty expires. An advantage of these is you are using Farmers paper. Hang them with their own rope. Typically that should be enough to find what you need to beat them. As DHK premium is only a part of what you are looking for, Value usually trump that. What she values. You can also order an inforce, but that will take time and may alert the other agent.

By the companies you listed I am assuming you are an FE agent. Those will not even come close on cost or value is she is under T2. If the kids are riders that will cause a bit of a premium issue but that is where value comes in again. If riders they will likely expire at age 25 and are probably for a tiny amount like $10,000 which will not be near enough for final expenses. If the kids are small whole life plans price them out. If you can beat them, not with FE plans, great. If not leave them there for now and pick them up later.

Lee
 
I am somewhat new in the FE arena but have an opportunity to sell a set UL policies because the person is upset with her agent (he hit on her, and wouldnt stop). I am contracted with Foresters, Americo, Assurity, TA and RNA. None of them come close to her premiums for her and her children. She is 39 with children 23, 19, 18 and 3. I viewed the policies. Is there any place I can check to be competitive?

I would find it hard to believe that RNA's FU wouldn't be more than competitive with Farmers. The Farmers I've run across have not been competitive at all.

This appears to be a case of where you need to pass this off for a split with another agent.
 
I am somewhat new in the FE arena but have an opportunity to sell a set UL policies because the person is upset with her agent (he hit on her, and wouldnt stop). I am contracted with Foresters, Americo, Assurity, TA and RNA. None of them come close to her premiums for her and her children. She is 39 with children 23, 19, 18 and 3. I viewed the policies. Is there any place I can check to be competitive?

JD's suggestion is a good one. I am assuming this is going to be a smaller premium so if you can find someone to do this case and teach you what they looked at it would be money well spent.

If you can pick up the illustration that she signed at issue and a copy of the last annual report study them and the next Non GUL you run into you will be more informed.

BTW, in there is the possibility that they UL was properly funded. I doubt it but it is possible.
 
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