Gotcha.... My mistake....
I can honestly say that the only difference in what you sell CWL or GrowUp is what the individual Client Needs are.... Both are easy to sell.
Gerber Grow Up Plan Vs. Other Whole Life Insurence Policies
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Gotcha.... My mistake....
I can honestly say that the only difference in what you sell CWL or GrowUp is what the individual Client Needs are.... Both are easy to sell.
I've run the big mutual companies against Gerber and found then to be better. The issue is smaller face amounts might not be available but at the same premium I've seen better face and cash value growth. If you're looking at IUL Minnesota Life issues preferred at low ages.
I've honestly never seen a Gerber illustration, wouldn't mind seeing a comparison if you could post one.
Log into the Gerber Website and view "My Case Statuses" under the My Customers Tab.
Any Gerber Life Plan will have a "Policy Kit" Link to it and it will download a .pdf copy of the policy.
In that you will find a "Table of Guaranteed Policy Values" in the policy. Since this is a non-par policy the amounts will not change unless there is a loan taken out.
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Indie agent's don't get renewals on these? I'm a MOO agent and the renewals aren't bad...
I've started doing more ACL policies on kids, so the parents can get a bigger face amount for less premium.
Imo the biggest deal with kid policies is the additional purchase benefit. NM's policies have 7 APB options for 2x original face value.
But, with my more aggressive clients I'm writing CvUL, since the cash value can grow more, and we aren't worried so much about temporary drops in face value due to the underlying investment performance since the primary goal isn't purely death benefit.
Imo the biggest deal with kid policies is the additional purchase benefit. NM's policies have 7 APB options for 2x original face value.
But, with my more aggressive clients I'm writing CvUL, since the cash value can grow more, and we aren't worried so much about temporary drops in face value due to the underlying investment performance since the primary goal isn't purely death benefit.
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If I had kids (and some extra money) I'd want a decent sized VUL or IUL on them and over fund the hell out of it, just so they'll have it when they're older. I pitch this to wealthier clients all the time who get it for themselves but they rarely bite for their kids which surprises me.
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I have a client who mentioned having a gerber grow up plan from 40-50 years ago. I know it depends on the premium/DB. But would it have decent CV to 1035 to something else? What would a ballpark on it be do you think? I am currently working on some LTC funding solutions and am considering a life policy with rider for him. He has no clue how much is in it but he doesnt think its a lot. Any ideas or experience with it?
- 24,956
Without any face amount or how old he is. I would guess, for quoting purposes, a third to fifty percent of face amount. of course if he is close to maturity age it will be more. Total guess.
It depends on the Face amount and Future purchased options bought.....
A 20yr CV on a 9 year old today ($10k doubling to $20k) 2001 CSO Tables would be about $1600.
CV at Age 65 would be about $9200
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