Insurance Agent Forum

[EFLTEACHER]

I have a prospect who is interested a dividend paying life insurance policy for $200,000 and can roll over from two non-par policies a total of $25,000.

He is a business owner who recently got his cholesteral down to an appropiate level with glucose just above 100. He is slightly overweight but has no blood pressure issues.


He is 47 and non-smoker.

He would expect his dividends to exceed his premiums in no less than 15 years.

Does anyone have any suggestion for this case?

Thanks

[Death Cab For Tootie]

Ummm...sell him a par WL policy? Am I missing something? Your prospect wants to buy and you need to think about it?

If you're trying to figure out which company to put the business through, look at Mass Mutual or Guardian.

[souldeux]

When you say he's looking for one "for $200,000" do you mean that's the face value he'd like, or that's what he's prepared to drop (plus the $25,000) on a single-premium policy?

[xrac]

Originally Posted by Death Cab For Tootie

Ummm...sell him a par WL policy? Am I missing something? Your prospect wants to buy and you need to think about it?

If you're trying to figure out which company to put the business through, look at Mass Mutual or Guardian.

I agree!

[EFLTEACHER]

Originally Posted by xrac

I agree!

Thanks I have been out of the business for awhile and am not sure which companies have not de-mutualized that I can place this case through.

It would be a face amount of $200,000; would have a dump-in of $25K and he would want to make payments into the plan for 15 years of around a couple of hundred dollars a month.

There is some health issue, however, that he can not explain - that will be the stumbling block in this case; getting it issued preferred.

[LGilmore]

"There is some health issue, however, that he can not explain - that will be the stumbling block in this case; getting it issued preferred."

That is usually the case isn't it?

[SportsNut]

Originally Posted by EFLTEACHER

Thanks I have been out of the business for awhile and am not sure which companies have not de-mutualized that I can place this case through.

It would be a face amount of $200,000; would have a dump-in of $25K and he would want to make payments into the plan for 15 years of around a couple of hundred dollars a month.

There is some health issue, however, that he can not explain - that will be the stumbling block in this case; getting it issued preferred.

Suggest you also look at 250K face, so as to take advantage of the lower COI at the higher band. You might find that the prem difference is negliible between the two, expecially with the pour-in. Run the illustrations and let the client decide.

Ohio Nat'l has a very good Par WL product.

[Newby]

Originally Posted by EFLTEACHER

Thanks I have been out of the business for awhile and am not sure which companies have not de-mutualized that I can place this case through.

It would be a face amount of $200,000; would have a dump-in of $25K and he would want to make payments into the plan for 15 years of around a couple of hundred dollars a month.

There is some health issue, however, that he can not explain - that will be the stumbling block in this case; getting it issued preferred.

In my opinion, any agent that sells any company to someone that only wants to pay premiums for 15 years is putting the screws to them if they don't sell a 15-year paid up policy.

Counting on the dividends to make future premium payments is how clients get mislead. Agents should know better. If you guarantee dividends in writing you will lose your license. But verbally MANY agents allow clients to believe they have bought a limited pay policy when really the agent is just HOPING the dividends will pay the premium.

[David C]

Ohio National is a good choice. They have a paid up at 65 your client may like.