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- #11
The clock is ticking now, because now you know what's going on.
- You can reiterate that the policy is guaranteed to age 65 at that premium level, but not guaranteed past age 65, and determine if that fits their goals, needs, and objectives.
- Ask ANICO if you can do a policy exchange into their Whole Life (not my favorite WL, but it's available) and do the illustration based on RPU at 65. This should be a non-commissionable option. (The last thing you want is to find out that the wrong policy was sold, and now you make a new commission, so you're getting rewarded for making the error.)
Do two illustrations: one based on the current premium commitment, and another based on the face amount needed. (Yes, there will be a price/premium difference.)
Document these conversations carefully along with all non-commissioned options you research.
But I wouldn't sit on this too long. By being pro-active, you can avoid a potentially even bigger issue down the road.
Why Clients are Successful in Arbitration & Litigation with their Advisers - Thought Leaders
Thanks for the help, it is much appreciated. Part of me right now doesnt even want to deal with field/agent support, but it is a must.
Luckily, 1 was just approved and is a month in. A couple others are pending or have not been delivered due to unavailability. Will do my best to reiterate it and see what I can do. Trying to wrap my head around what the best option here is considering this was based off of the few conversations I had with field support.
The goal was just protection, cash value didnt matter hence the GUL. Will see if I can work something out most likely to guarantee the level premium til maturity. Will bring up your recommendations and see which path is taken. Time to see if if they will even remain said clients of mine.
What a way to start the weekend. Just glad I caught this early.