Continental/Genworth Whole Life Policies?

jdeasy

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Hanson, Ky
I have a guy trying to recruit me to sell FE and med sups thru Continental of Brentwood, Tn.

He sent me some rate charts that really looked like great rates. They didn't say whole life anywhere and when I asked him about it, he said they were whole life and sent me a couple of brochures from Genworth. It does say "Sareguard- whole life insurance policy" on one and "EZ Life-whole life insurance policy" on the other.

There is no mention of cash values, interest rates, automatic premium loans, etc.

When I asked the guy about that, he said that all whole life policies do not build cash values.

That's not what I've always been taught. Does anyone have any insight to these Continental/Genworth whole life policies? Are they, in fact, whole life?
 
I have a guy trying to recruit me to sell FE and med sups thru Continental of Brentwood, Tn.

He sent me some rate charts that really looked like great rates. They didn't say whole life anywhere and when I asked him about it, he said they were whole life and sent me a couple of brochures from Genworth. It does say "Sareguard- whole life insurance policy" on one and "EZ Life-whole life insurance policy" on the other.

There is no mention of cash values, interest rates, automatic premium loans, etc.

When I asked the guy about that, he said that all whole life policies do not build cash values.

That's not what I've always been taught. Does anyone have any insight to these Continental/Genworth whole life policies? Are they, in fact, whole life?

Universal Life is a "type" of whole life. It doesn't have to build much cash value.

A straight traditional whole life policy will always build more and more cash value each year until it reaches the point where the cash value is equal to the death benefit. Most are designed to do this at age 100. Really old policies could do this at younger ages but the IRS had problems with it because it was a great tax avoidance product.

Continential Life of Brentwood was the first final expense company I contracted with. They fed me one of the best steaks I have ever had.

At that time they offered around 6 versions of their "final expense" products with names like EZ Life, Super EZ Life, Life Made EZ, Easier than EZ Life, etc.

It was completely confusing to me. I went to their corporate office for a full day of training and figured out that there was no one in that entire building that had ANY idea what the differences were between the various products.

Here's a sample of their great training:
Me: When would you use EZ Life instead of Super-Dooper EZ Life.
Them: Oh I don't know. Some agents tend to like one and other agents like the other one. That was a good steak we had last night wasn't it?

Unless that company has changed a LOT they are a mess when it comes to life insurance. They seem like real nice people who just don't have a clue what they're doing.

Sometimes companies like that do have some hidden gems though.
 
It looks like UL, but, they call it "whole life". What they sent me really has good rates. I don't know know how tough underwriting is. They won't cover an insulin diabetic. It says that right on the app.

They also haven't sent the commission levels and I've asked twice for that. That may be the catch.
 
It looks like UL, but, they call it "whole life". What they sent me really has good rates. I don't know know how tough underwriting is. They won't cover an insulin diabetic. It says that right on the app.

They also haven't sent the commission levels and I've asked twice for that. That may be the catch.

What I've seen with them, most products were from 100% to 105% first year and pretty low renewals.

I think they had one version that paid 115% with 8% renewals but it was priced higher.

I also remember that one policy was an easy issue with their Med Sup and you got a bump up on the commission for both products if you sold it together.
 
Both Safe Guard and EZ Life are Whole Life plans. CLi only offers Safe Guard and EZ Life (all other life plans have been removed). EZ Life is interesting in that there are no Smoker rates, the product covers smokers and non-smokers at the same premium. SG has real low premiums.
 
Both Safe Guard and EZ Life are Whole Life plans. CLi only offers Safe Guard and EZ Life (all other life plans have been removed). EZ Life is interesting in that there are no Smoker rates, the product covers smokers and non-smokers at the same premium. SG has real low premiums.


I take it that you write them. How tough is underwriting? What kind of contact is available? Can one contract direct?
 
Yes, you can contract direct. 115% on EZ, 100% on SG. Yes No app. Underwriting not much different than other companies on EZ. SG stricter underwriting but lower premiums. I have written them but, CLi pulled both last year from all states, they have not received approval in WV with the new versions.
 
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