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Reply to Is Term with Return of Premium Better Than Mortgage Protection Policies?     
Old 07-13-2017, 06:05 PM   #1
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Is Term with Return of Premium Better Than Mortgage Protection Policies? Is Term with Return of Premium Better Than Mortgage Protection Policies?
I'm a newbie and have been recruited by a few mortgage protection companies, but when I look at their quotes they seem high.

Wouldn't a regular term with ROP be a better choice? I talked to an AIG rep and his quote for a 35 yr old male, non smoker , 20 yr policy with ROP , $250K , was half of Americo's quote.

I know the commission on mortgage protection is very well and that is why a lot of people sell it.

What is the commission on a term product with ROP?

Thanks
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Old 07-13-2017, 06:10 PM   #2
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Is Term with Return of Premium Better Than Mortgage Protection Policies? Re: Is Term with Return of Premium Better Than Mortgage Protection Policies?
Define "mortgage protection" ..

typically MP is just regular term.. some might have riders on them .. striaght term should always be less than ROP TERM
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Old 07-13-2017, 07:15 PM   #3
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Is Term with Return of Premium Better Than Mortgage Protection Policies? Re: Is Term with Return of Premium Better Than Mortgage Protection Policies?
Originally Posted by IsellMN View Post
I'm a newbie and have been recruited by a few mortgage protection companies, but when I look at their quotes they seem high.

Wouldn't a regular term with ROP be a better choice? I talked to an AIG rep and his quote for a 35 yr old male, non smoker , 20 yr policy with ROP , $250K , was half of Americo's quote.

I know the commission on mortgage protection is very well and that is why a lot of people sell it.

What is the commission on a term product with ROP?

Thanks
I would assume that Americo's product is a Simplified Issue term like UHL and others.. If that be the case, that is the reason for the higher premiums.. AIG is a fully underwritten plan. There is not much difference when it comes to commission rates.

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  Reply With Quote to Is Term with Return of Premium Better Than Mortgage Protection Policies?
Old 07-13-2017, 10:13 PM   #4
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Is Term with Return of Premium Better Than Mortgage Protection Policies? Re: Is Term with Return of Premium Better Than Mortgage Protection Policies?
Remember one thing, commissions are great but focus on what's best for your client. You will make a lot more commission long term that way.
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Old 07-14-2017, 06:37 AM   #5
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Is Term with Return of Premium Better Than Mortgage Protection Policies? Re: Is Term with Return of Premium Better Than Mortgage Protection Policies?
Originally Posted by IsellMN View Post
I'm a newbie and have been recruited by a few mortgage protection companies, but when I look at their quotes they seem high.

Wouldn't a regular term with ROP be a better choice? I talked to an AIG rep and his quote for a 35 yr old male, non smoker , 20 yr policy with ROP , $250K , was half of Americo's quote.

I know the commission on mortgage protection is very well and that is why a lot of people sell it.

What is the commission on a term product with ROP?

Thanks
Guess what? It's the same thing!!!
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Old 07-15-2017, 06:39 AM   #6
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TwiLight on Is Term with Return of Premium Better Than Mortgage Protection Policies?
 
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Is Term with Return of Premium Better Than Mortgage Protection Policies? Re: Is Term with Return of Premium Better Than Mortgage Protection Policies?
And then there is GUL with a guaranteed 100% cash back option in year 20 and 25.

AIG has one, but is fully underwritten, ANICO has the best, IMHO, because it offers non-med to $250k and accelerated underwriting to $1m. ANICO just has better and faster underwiting.
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