I was asked by a old boss this evening for a quote on his wife and children, told him i would be happy to meet with him and do some fact finding and help them out. He said his wife got a quote on 50k worth of whole life and 10k each to cover their 5 children, which i don't think is enough but that is something ill have to find out. We are in Kentucky, she is 39 and perfect health i am told and he seems to think the quote was high. I want to do what is best for him, quoting the 50k wl with a 10k child rider comes to 47.38 a month standard non tob. Can anyone give me a better quote?
Question About Quote
- Thread starter mwpuck01
- Start date
- 11,274
If someone ever says that your quote is high... always ask "compared to what?"
Compared to group insurance?
Compared to term insurance with a higher death benefit for less money?
Compared to another whole life quote?
Without knowing what they are comparing your quote to, you're just guessing.
Compared to group insurance?
Compared to term insurance with a higher death benefit for less money?
Compared to another whole life quote?
Without knowing what they are comparing your quote to, you're just guessing.
These are all great questions. I think your old boss may just be using you to fish for numbers. I can see you want to do the job but how much are you looking to save him? A combined couple bucks a month? Take a hybrid approach and utilize some low cost higher DB term alongside his WL
- Thread starter
- #4
Thank you both for your replies, i do feel he is only fishing for numbers and i am trying to get a appointment with him and his wife so i can actually help them. I do know that is was a whole life quote but again i can't compare it adequately because i do not know what kind of whole life it was, 20pay, dividend and cv or just cv or something more like a "permanent term" insurance i sell with no cash value and no interest/dividend. So i know I need to sit down with them.
- 1,405
Tell him to read the attached.
- Thread starter
- #6
- 3,764
Provide value while all the other agents just provide quotes.
Set yourself apart from the competition
Set yourself apart from the competition
