Term Struggle - Company Suggestions/concerns

[JMarketing]

Hello all

For the last year I've done well with writing nearly all SIWL Final Expense policies. In the last 12 months I think I wrote a pretty hefty amount of annual premium and I have few complaints.

I won't delve into the whole discussion on whether a term, whole life, or UL policy for a client is best because I believe that's dependent on each client, their comfort level, what they need, etc., Suffice to say I know that there are definitely places for term policies and I'd like suggestions for companies that fit any of the following criteria...

1). Term companies with great rates.

2). Terms with no paramedical exam - I don't care if it's SIWL or Fully Underwritten. However, what's key to this is my ability to know whether or not a client will be approved/declined/or rated based on information in an agent guide of some sort. AKA, NOT having to call and get a pre-risk analysis.

3). Terms that do 5-year band increases but, ideally, last past age 80 (unlike AARP). I amortized a 30 year period for a client the other day comparing AARP to Oxford life and, even with the price increases listed by AARP, she was better off cost wise to stick with AARP. She was strangely comfortable with the policy ending at age 80 but it at least made me realize that (regardless of comfort level with policy ending at 80) there is a demographic of people who prefer a "lower" price now when the increase down the line still puts them at an overall cost output that is lower than whole life...

4). Terms that'll issue a policy on older folks. I've got all kind of term options that have maximum age limitations of 60 and 65 years old. After that it seems to be tough to get a term to issue...

5). I love return-of-premium riders on term plans...I've got a couple different companies that offer that (Liberty Bankers, American Amicable, Omaha, etc.,) but not much more then that.

Thanks for your input!

 

[pcbinsurance]

American General has a well priced ROP Select-A-Term up to 30 years.

For non ROP and non med, Sagicor is my favorite. Great company to work with. If you want to appoint with them, PM me and I'll steer you to my IMO for Sagicor.

As for AmAm, they suck in my opinion for too many reasons to list.
MOO? Not a fan.

 

[WinoBlues]

Hello all

For the last year I've done well with writing nearly all SIWL Final Expense policies. In the last 12 months I think I wrote a pretty hefty amount of annual premium and I have few complaints.

I won't delve into the whole discussion on whether a term, whole life, or UL policy for a client is best because I believe that's dependent on each client, their comfort level, what they need, etc., Suffice to say I know that there are definitely places for term policies and I'd like suggestions for companies that fit any of the following criteria...

1). Term companies with great rates.

2). Terms with no paramedical exam - I don't care if it's SIWL or Fully Underwritten. However, what's key to this is my ability to know whether or not a client will be approved/declined/or rated based on information in an agent guide of some sort. AKA, NOT having to call and get a pre-risk analysis.

3). Terms that do 5-year band increases but, ideally, last past age 80 (unlike AARP). I amortized a 30 year period for a client the other day comparing AARP to Oxford life and, even with the price increases listed by AARP, she was better off cost wise to stick with AARP. She was strangely comfortable with the policy ending at age 80 but it at least made me realize that (regardless of comfort level with policy ending at 80) there is a demographic of people who prefer a "lower" price now when the increase down the line still puts them at an overall cost output that is lower than whole life...

4). Terms that'll issue a policy on older folks. I've got all kind of term options that have maximum age limitations of 60 and 65 years old. After that it seems to be tough to get a term to issue...

5). I love return-of-premium riders on term plans...I've got a couple different companies that offer that (Liberty Bankers, American Amicable, Omaha, etc.,) but not much more then that.

Thanks for your input!

1). Term companies with great rates.

Go to term4sale.com and run a couple different agees and amounts and you will see who are coming in the top ten price wise. Or better yet get compulife on their free trial and it will include ROP and GUL which you have to have.

2). Terms with no paramedical exam - I don't care if it's SIWL or Fully Underwritten. However, what's key to this is my ability to know whether or not a client will be approved/declined/or rated based on information in an agent guide of some sort. AKA, NOT having to call and get a pre-risk analysis.

Again, term4sale/compulife and look for the SI those are going to be SI or non med. How ever not all the non meds are marked SI.

3). Terms that do 5-year band increases but, ideally, last past age 80 (unlike AARP). I amortized a 30 year period for a client the other day comparing AARP to Oxford life and, even with the price increases listed by AARP, she was better off cost wise to stick with AARP. She was strangely comfortable with the policy ending at age 80 but it at least made me realize that (regardless of comfort level with policy ending at 80) there is a demographic of people who prefer a "lower" price now when the increase down the line still puts them at an overall cost output that is lower than whole life...

Learn to dial down GUL

4). Terms that'll issue a policy on older folks. I've got all kind of term options that have maximum age limitations of 60 and 65 years old. After that it seems to be tough to get a term to issue...

See #1 and 2

5). I love return-of-premium riders on term plans...I've got a couple different companies that offer that (Liberty Bankers, American Amicable, Omaha, etc.,) but not much more then that.

Cinci Life (non med <100k to 60), Pru (great ht&wt), Assurity(non Med), UHL (SITerm couple tbls built in, child riders) See #s 1&2.

I would also really take a look at Pinney.

All In my ever so humble opinion

Edit: and what pcbinsurance said.

Edit edit:""She was strangely comfortable with the policy ending at age 80 but it at least made me realize that (regardless of comfort level with policy ending at 80)"" have them sign the illustration and or have an email string that says it ends at age XX and keep a copy in the file.

 

[ShawnSIM]

I've got a 20 year term product you can write up to age 80. PM if you want to learn about it. For non-med term I used to like Assurity but they raised their rates recently so now I like Sagicor.