Wrote my First Policy

If that was not the right decision school me I'm here to learn


Well you realize that a $1,000,000 20 year tem would have cost her around $30 a month....so you tell me .....what would you rather have if you were the benie........face amount is the most important thing when it comes to life insurance.....and you can convert the term to premeditate plan down the line...and what if she got cancer and became uninsurable .......
 
Well you realize that a $1,000,000 20 year tem would have cost her around $30 a month....so you tell me .....what would you rather have if you were the benie........face amount is the most important thing when it comes to life insurance.....and you can convert the term to premeditate plan down the line...and what if she got cancer and became uninsurable .......
wow I didn't know that you could get that much death benefit for so little. What company ?The policy has a guaranteed renewal with an accelerated benefit built in . I assumed if she did get cancer down the line she could at least continue to renew her current policy until age 95. The rop sounded like the right move because I read that only 7% of term polices actually end up having to pay , so if she outlived it she'd walk away with something
 
Cokey, congrats on your first sale; that's an icebreaker for you!
Piggybacking on STI's info to you, there are policies for the face value you sold to this client that cost less than $10/month base. Probably cost less than $15 w/child rider. These prices are probably based on super preferred health rating. Companies use the MIB and assign health ratings based on its info. Experience is the best teacher, and nowhere is that more accurate than in the insurance game. Don't beat yourself up, you will benefit from the experience.
 
Congrats! I would consider losing the ROP option, and adding however much more death benefit that $ buys...especially if you have already talked about converting later. There will be no need for ROP if you convert. The child rider is a good thing.

Since you just went into UW, you should head it of asap if you plan to. Because they will need to UW for a higher amt. It will be easy to explain... its about converting, vs carrying the policy to expiration and getting $ back (and potentially not being insurable at that point).
Also, look into their conversion options thoroughly. They have a pretty good whole life, just make sure you know what the client is allowed to convert to...and when.
 
Congrats! I would consider losing the ROP option, and adding however much more death benefit that $ buys...especially if you have already talked about converting later. There will be no need for ROP if you convert. The child rider is a good thing.

Since you just went into UW, you should head it of asap if you plan to. Because they will need to UW for a higher amt. It will be easy to explain... its about converting, vs carrying the policy to expiration and getting $ back (and potentially not being insurable at that point).
Also, look into their conversion options thoroughly. They have a pretty good whole life, just make sure you know what the client is allowed to convert to...and when.
Thanks !!!!!! Its alot to take in but im dedicated to learning
 
Congrats!

Now do that a few hundred more times and you've got something going.:yes:

It's better to discuss a case before and/or after you write it with your IMO. That's what they are there for. (or should be!) Don't hesitate to call an underwriter for a risk assessment either. Again, that's why they are there.

Coming on to the forum and talking about something like this will only confuse.:swoon:
 
Also i think Ive identified the market I want to specialize in or pursue, and that's the 25-35 year olds that may be strapped for cash but understand the importance of having a insurance policy

Be careful, you could be headed to charge back city targeting that demographic.
 
Back
Top