I searched the forum but I couldn't find any answer to my following question:
I'm looking for a company that has traditional whole life at the best rates ... I am using Royal Neighbors now but I'm not too fond of them right now and I would like to have another company to offer ... maybe with better rates or rates that compare.
Or maybe you can recommend a UL company ...
I've shyed away from UL because it confuses me; however, i'm willing to learn.
If you're not talking final expense I would suggest looking at Ohio National. They have several whole life products, one of which is paid up at 65. They also have excellent term rates with conversion options.
There are not that many life companies that let you go direct. I write for Ohio National which is one. Two others that I know of but are not contracted with are Mutual Trust Life and Midland Life.
I found Midland to be very disorganized on both their life and annuity sides... and they are basically two different companies under the same name owned by Sammons.
MTL had poor follow-up to questions I had pre-appointment and my motto is "The way you are treated by a carrier before the sale is how you will be treated after the sale."
I might suggest that you look for a good GA who has experience in WL. I deal with Brokers Alliance but they are "married" to UL and I don't write UL... I'm a term or WL guy. (I know the UL guys will jump all over me, but UL tries to pass itself off as an "investment" with it's large CSV build-up (on most designs) and I'd rather see clients buy term or WL and put excess cash into fixed annuities or government bonds or certain mutual funds (for long term growth.) )
WL seems to be making a come-back (vis a vis UL) and GAs seem to be more interested in it now so check with the GA of your choice (try local ones first... help your local economy) and see what you can find.
I searched the forum but I couldn't find any answer to my following question:
I'm looking for a company that has traditional whole life at the best rates ... I am using Royal Neighbors now but I'm not too fond of them right now and I would like to have another company to offer ... maybe with better rates or rates that compare.
[...]
Any recommendations?
yeah, rephrase your question to one we can answer.
There's no such thing as "best rates" when it comes to whole life. It doesn't stop NWM from selling a lot of it.
It's all about strategy behind the use of the whole life insurance tool in the client's portfolio.
Without strategy, you're comparing prices on the "tools" (whole life).
A company that has the "best rates" this year will have the worst rates in another 2 years.
Pick a GOOD company that takes good care of YOU and the policyholder.
As mentioned before, Ohio National is worth your consideration. You can get brokerage contracts with Guardian & Mass as well.
It looks like its gaurdian, mass mual and ohio national ....
I guess, to clarify my question, I'm just looking for a good whole life that will do 20pay, 65 and level ....
Of the ones mentioned in this thread, which have a more lineant underwriting .... or which company would you use for different scenarios ... age, sex, smoker, diabetes etc
I meant fair and reasonable, full underwriting, you will not get anything past them. No doubt moonlight, if a company is not fully underwriting their policies, the policyholders will pay for it for sure.
Is it true, Gaurdian pays 50% for whole life and 40% for term ... that is their commission payout???? Why??? Who would sell them if that is all you get ... I'd starve ... what's the catch?
is it true, Gaurdian pays 50% for whole life and 40% for term ... that is their commission payout???? Why??? Who would sell them if that is all you get ... I'd starve ... what's the catch?
Sell more policies and/or premium and you won't starve.
Sell more policies and/or premium and you won't starve.
not true ... after expenses, chargebacks, declines ... you might as well be volunteering. Unless there is something about gaurdian that I don't know about. Maybe they give you full benefits, free leads, a company car and a paid 2 week vacation ... if that's so, then I might consider signing up ...
not true ... after expenses, chargebacks, declines ... you might as well be volunteering. Unless there is something about gaurdian that I don't know about. Maybe they give you full benefits, free leads, a company car and a paid 2 week vacation ... if that's so, then I might consider signing up ...
You shouldn't have chargebacks and declines if you are selling the client the right policy in the first place....
not true ... after expenses, chargebacks, declines ... you might as well be volunteering. Unless there is something about gaurdian that I don't know about. Maybe they give you full benefits, free leads, a company car and a paid 2 week vacation ... if that's so, then I might consider signing up ...
I'm guessing chargebacks, declines, etc. are a function of you and not the underlying insurance company.
Guardian allows their par WL to be brokered. You won't get a top-notch contract - 50% is about the norm. If you produce more, you'll get overrides, expense accounts, etc. If you're a career agent, you'll get office space, a phone, some admin help, financing, FICA, 401k, etc. When you compare 50% with all that other stuff vs. 90% as a 1099, it may look better.
And FTR, I know what I'm talking about. If your pipeline is full enough, you'll never worry about chargebacks, declines, etc. You sound like your pipeline is as dry as a bone.
Traditional Whole Life Companies
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