Zero Premium Life. 'Nuff said"
Rick
Without going into a massive thread on this issue. As far as I understand the zero premium life insurance product has been approved BUT limited to those institutions that fall under section 501 c 3 of the Internal Revenue Code (Charities and Religous organizations). This is due to the fact that these organizations can be deemed as having an "insurable interest" in the insured. This interest is described as pecuniary (monetary).
Has any agent here sold this policy to a church or religous congregation member?
Please share your input with us...
Commissions?
How was it pitched?
Who was the carrier?
How many agents involved?