Thoughts on WL Product

[Cash]

Once again, I'm new to the biz. I just wanted to hear some thoughts on whole life. I get that for some people WL is a great product but for a majority it's not. The company I work for pushes straight whole life. No matter what the prospects needs are -- they want us to sell them whole life. They don't even want us to offer them term because it's not nearly as pricy premium wise. Any inputs are appreciated... Sarcastic or not!

You have 3 options:

1. Find the market that fits the product.
2. Sell the product to people who don't need it.
3. Quit and sell something else.

 

[WinoBlues]

i.e. 30 years of premium may equal more than the death benefit for example. Maybe thats what he meant. If that is you see that more in poor WL products

that's exactly what I meant. The forum wouldn't let me reply to DHK for some reason but yes that's what I meant and I see it in almost every WL policy we sell.[/QUOTE]

Sounds like you only have Final Expense. That definitely has a place but tjay is not the Whole Life these guys are talking about.

 

[Ksutton]

I Love WL


-Guaranteed death benefit WHEN someone dies.
- single pay to leave behind MORE tax free $ than paid into
- final expense protection
- GIO on children
- reduce paid up options
- if young enough there are times when the cash value exceeds the amount of premiums paid . this is attractive to young healthy families to have a "forced savings" where if you put 1 $ into a savings account and pass you only get 1$...but with a WL account if you make one payment and pass the family gets the full death benefit. also able to CASH OUT and cancel policy.
-pension maximization

and more

Don't get me wrong. I am not saying WL is the answer and best for every client.
But its not a BAD product.