Term with Northwestern Mutual

[JFBAgent]

My brother brought me a case where the applicant is a 58 year old non-smoker. He has been approved at Preferred rates with both Mutual of Omaha and Northwestern Mutual.

The applicant is stating that he has decided to go with Northwestern, because Northwestern's policy is $1,876 for a 20 year level term.

That didn't sound right, so I went to term4sale.com and saw that Northwestern's 20 year level term is $2,402.

Does anyone know exactly what the policy the Northwestern guy is quoting might be and what exactly the terms are?

 

[VolAgent]

Are you sure you ran it at the underwriting class he was approved for with NWM? That could easily be the problem. Remember, each company has different terms for the preferred classes.

 

[Mark]

We were just talking about SouthWestern Last Week and where they are located.

Now, I have to figure out where NorthWestern is located? Crap.

 

[Larry Tew]

Does NWM have a different term product depending on what it converts to? That still wouldn't explain the gap.

 

[dgoldenz]

My brother brought me a case where the applicant is a 58 year old non-smoker. He has been approved at Preferred rates with both Mutual of Omaha and Northwestern Mutual.

The applicant is stating that he has decided to go with Northwestern, because Northwestern's policy is $1,876 for a 20 year level term.

That didn't sound right, so I went to term4sale.com and saw that Northwestern's 20 year level term is $2,402.

Does anyone know exactly what the policy the Northwestern guy is quoting might be and what exactly the terms are?

I guessed at $400k and preferred rates is $2,402, Premier rates is $1,876. There's your answer. If he could qualify with Banner for P+ rates, it would be $1,625.

 

[VolAgent]

Does NWM have a different term product depending on what it converts to? That still wouldn't explain the gap.

Might be an ART, or could be using dividends to reduce the premium. Does NWM have a dividend paying term?
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I guessed at $400k and preferred rates is $2,402, Premier rates is $1,876. There's your answer. If he could qualify with Banner for P+ rates, it would be $1,625.

I thought that was it.

 

[JFBAgent]

Thanks for the help all!!

 

[scagnt83]

Unless you plan on converting over to NWM WL, then I have found no reason whatsoever to go with NWM term, it can always be beat from my experiences.

 

[WPM]

Unless you plan on converting over to NWM WL, then I have found no reason whatsoever to go with NWM term, it can always be beat from my experiences.

And unless the client likes overpaying, there is no reason to convert to NML WL.
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And unless the client likes overpaying, there is no reason to convert to NML WL.

Oh, and unless they have changed their term contract, NML's 20 year term is only convertible for 10 yrs. That's why a lot of their agents push T80, which is ART. They obviously sell a lot of insurance, but their products aren't very impressive.

 

[BNTRS]

Oh, and unless they have changed their term contract, NML's 20 year term is only convertible for 10 yrs. That's why a lot of their agents push T80, which is ART. They obviously sell a lot of insurance, but there products aren't very impressive.

Product's don't matter people do...I think this is where you were going with this.

Unless you plan on converting over to NWM WL, then I have found no reason whatsoever to go with NWM term, it can always be beat from my experiences.

Not so fast, if you are a smoker in good health, NML can be rather competitive (very strange niche if you ask me).