Looking for good term for seniors

toc3 · 11-11-2008, 12:19 PM

Hi, I am primarily a Med. supp salesman and am looking for a good company that offers their product in Arkansas. I need a competitive term life product to offer. Any ideas?

HomeService · 11-11-2008, 03:18 PM

Fidelity life association, maybe? I did not look to see how high in age they go....
Actually , look at this other thread, I think they ended up going with UL..

Low Face Amount Term

Deep South Broker · 11-11-2008, 05:13 PM

Contact this guy about Fidelity, I got a contract and wrote 2 policies with them over the computer in 3 days.

Edward Garrison [mailto:egarrison@garrisoninsurance.net]

Tell Him Tommy Miles, in Morton, MS told you about his product. Good Folks to work with!

myinsurebiz · 11-11-2008, 06:34 PM

Fidelity is a poor choice for those over 60. Limited to $25k over 65.

Shenandoah and Symetra are ok up to 75 y/o.

Baltimore Life has term as well up to 70 y/o.

Good luck.

Tom

toc3 · 11-12-2008, 12:08 AM

I need to beat $11.83 per $1000 for $200,000 5 year level term although decreasing may work once I find out exactly what I'm trying to cover amortization wise. I wrote a LTC policy and on my way out the door was asked if I could beat that. Didn't get much more info. Applicant will be 66 in Dec. Good health, probably preferred class actually. I tend to believe it is to cover mortgage. I will know more about why he has the need soon. Any advice on what I need to find out from my prospect? I know that it doesn't necessarily have to be a 5yr term as long as it takes care of his need.

TRK3031962 · 11-12-2008, 09:47 AM

Originally Posted by toc3

I need to beat $11.83 per $1000 for $200,000 5 year level term although decreasing may work once I find out exactly what I'm trying to cover amortization wise. I wrote a LTC policy and on my way out the door was asked if I could beat that. Didn't get much more info. Applicant will be 66 in Dec. Good health, probably preferred class actually. I tend to believe it is to cover mortgage. I will know more about why he has the need soon. Any advice on what I need to find out from my prospect? I know that it doesn't necessarily have to be a 5yr term as long as it takes care of his need.

I just ran a hypothetical quote. Looks like ING tops the charts. I couldn't find anybody to offer a 5 year term, but did get the 10 year term quotes back. ING is $100.28 preferred plus, $122.33 preferred, $152.08 standard plus, and $177.28 for standard. These are monthly premiums which all appear to be a lesser amount than what he told you. There are a few other companies that come in better also. ING is just the cheaper of all.

myinsurebiz · 11-12-2008, 11:54 AM

$186.20 10yr for $200k with Symetra Life - preferred.

$183.50 10yr for $250k on preferred plus.

TRK3031962 · 11-12-2008, 03:23 PM

Originally Posted by myinsurebiz

$186.20 10yr for $200k with Symetra Life - preferred.

$183.50 10yr for $250k on preferred plus.

Doesn't even look like they're even in the ballpark! Who owns Symetra Life anyway, I've never heard of them. I'm not saying they're not a reputable company, I just never heard of them.