Never thought the cash value important. This is a final expense policy - not something anyone would plan using for a loan or to cash out.
By the way, the same plan with Oxford Life is $66.99 per month.
Rick
This is a whole life policy and part of explaining the policy should be to disclose the cash value. It is not a matter of what the agent wants and disclosing is not a recommendation to cash it out or take a loan or anything. It is an aspect of the policy and policies cannot be compared without knowing it.
Someone gave a quote for 77 per month. I looked at a few figures and saw that Mutual of Omaha's plan was only a few dollars per month more and of course is a household name company that has credibility with seniors. In addition the policy would build cash value of $5,000 at the end of 10 years (half the value of the premiums paid). So does this policy for 77 build any cash value and what is it. Otherwise, how can you compare policies?
Let's take an example of a 70 female, standard no-tobacco, with a death benefit of $15,000.
$77.43 a month...
The rate quoted above also does not require a phone interview. Which is good when taking an application from a farmer while he is bailing hay in the barn.. The rates are almost identical with Oxford though age 65.
I also write Oxford and they have recently changed their interviewing process, takes much longer.
The rate quoted above also does not require a phone interview. Which is good when taking an application from a farmer while he is bailing hay in the barn.. The rates are almost identical with Oxford though age 65.
I also write Oxford and they have recently changed their interviewing process, takes much longer.
I'm still unclear who has the $77.43 rate.
In regards to Oxford Life, who are you contracted through and how well do they pay?
Anybody know what the best GA contract is for Presedential Life. As far as i know this is the only true GI whole life out there.no smart ##s responses please.
You shouldn't as k for no smart a** responses. When you do that then you get lots. I think I was offered a 55 or 65% contract a year ago. I didnt take it though. HAve you looked at United Home Life? That one is almost GI.
Anybody know what the best GA contract is for Presedential Life. As far as i know this is the only true GI whole life out there.no smart ##s responses please.
Almost true guaranteed. No issue if you are in the hospital at the time of the app.
Who doesn't do the phone interview. I am with monumental, but after seeing the other rates I think I am going to chage.
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"Government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it." Ronald Reagan
You just lost me. I know that monumental's rates can be beat by American Amicable and Oxford. Someone said they wouldn't work for a B rated company. I don't see what's wrong with B companies.
55% is the best i have seen from Premier Marketing, M&O and PPMG so maybe that is the best GA street level. Who would i contact about United Home Life? Thanks.
Ok guys - Frank convinced me to add some information. I sell strictly Final expense, day in, day out, that's all I do. I keep it simple, I only carry 3 companies in my bag daily, even though I am contracted with a few more.
If you are going on a final expense appointment you need to carry a graded product. About 10% of my business is graded and I write Presidential with them at 80% commission. You will collect first months premium with them, then they will draft. But they will not draft first months premium. There are no health questions due to being graded, and there is a 2 to 3 year wait until they would receive full benefits.
The second company is Oxford. Everyone is familiar with them and their rates. They are the most affordable out there. They do have an extensive phone interview. You collect the first months premium and then they draft after that. If they qualify, they will receive day one benefits for accident or natural death. I write about 30% of business with them to keep them happy. The phone interview is what keeps me away.
The third company shall remain silent. But there are only a handful of agents in the country carrying this Company for final expense. Their main business is with Gov't employes. But they have the same rates as Oxford through about age 68. They don't care if you are a diabetic taking insulin or pills. THERE IS NO PHONE INTERVIEW!! AND THEY WILL DRAFT FIRST MONTH PREMIUM. That is why I like it. It allows me more to BS with the client than to be on the phone for 15 minutes. I write 60% with them. They also draft first months premium and then there after.
But as Frank will confirm, I go on a minium 6 appointment a day, 2 to 3 days a week. Most of the time I have 9 or 10 appointments scheduled. I am in the process of switching my leads from mailers to lists.
If you have any other questions, I will be glad to help out if I can. I don't know everything.....great forum.
Stratos, who do use as your FMO for Presendential ? Also since Final Expense is your fortee i would like your opinion on something.Do you bother taking applications on prospects who don't have a checking account on a quarterly basis or do leave those to the debit agents? Also, does any company stand out as the lowest rates for smokers.Thanks
The rates are almost identical with Oxford though age 65.
I think I was offered a 55 or 65% contract a year ago. I didnt take it though. HAve you looked at United Home Life? That one is almost GI.
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