I have an insured with a preexisting condition that will get worst over time. Currently we have applied for insurance and 12 of 13 major carriers have rejected him. I am going to suggest a 10 pay whole with the carrier the accepted him. The Insured can afford the premiums.
The insured is looking for an additional $1m in coverage. However, he has an old, convertible, 500k erie term life policy with a good rating since it was written prior to his condition.
Thus I think it is a good idea to do a 10 pay on the erie policy but I don't know if erie will allow me to do this and get the commission since I am not licensed. I don't want to spend 6 months licensing just to covert this policy.
The insured no longer keeps in touch with this agent and would preferred to do it with me. Is there a way to convert the erie term policy into a 10 pay whole life and get commissions? I don't think it is right to do a conversion so another agent can get a commission. Do I have any other options?
The insured is looking for an additional $1m in coverage. However, he has an old, convertible, 500k erie term life policy with a good rating since it was written prior to his condition.
Thus I think it is a good idea to do a 10 pay on the erie policy but I don't know if erie will allow me to do this and get the commission since I am not licensed. I don't want to spend 6 months licensing just to covert this policy.
The insured no longer keeps in touch with this agent and would preferred to do it with me. Is there a way to convert the erie term policy into a 10 pay whole life and get commissions? I don't think it is right to do a conversion so another agent can get a commission. Do I have any other options?
