AIG Life Brokerage (American General) Announces UL Product Changes… Effective February 1, 2006 AIG’s will discontinue selling three products, increase the maximum issue age for a few products, increasing the Cost of Insurance (COI) rates and lowering target premiums for some traditional universal life products. In addition, their new ContinUL Extend replaces ContinUL. ContinUL Extend will offer clients the option to “dial-aguarantee”, increasing their options and making finding the right premium easier for you.
North American Company Dominates Fully Guaranteed UL Rates… Are you an order taker? When a client asks for term insurance do you show them other options? Have you given fully guaranteed universal life policies serious consideration, especially for younger clients? You can sell your client a term policy that lasts for a predetermined amount of time or you can sell them a “lifetime” term policy. We have access to many top notch products but find that North American’s rates continue to beat all the others.
West Coast Life’s New C-Series Term… Introduced December 2005, the new C-Series term products hit the street. Now approved in NC, rate classes have been streamlined and Underwriting Guidelines have been updated. West Coast continues to be one of the most competitive term products on the market. They prefer Super Preferred Nonsmoker and Preferred
Nonsmoker clients. However, their new Standard rates match up extremely well against the competition. They want to be your top term carrier.
Return of Premium Term Sales Idea… “Just Ask.” If you are not showing your clients aged 40-50 years of age an ROP product, you are not helping them. Ask them, “Mr. Client, would you be interested in a tax free savings account that earns 5-7% over 20 years?” You can either have cheap low cost term that expires or converts to something expensive at the end of 20 years or you can pay more and get all your money back if you don’t use the term (die). You would have to earn 5-7% on a savings account after taxes on the difference in premium between a regular level term and an ROP term policy. You won’t know if they would buy the policy if you don’t ask. Just Ask!
Why Met Life Investors? Formally GenAmerica and now merged with Travelers, Met Life Investors offers the most aggressive income replacement guidelines in the industry: Age 30 up to 30 x income, Age 50 up to 20 x income and Age 65 up to 10 x income. In addition to financials and industry ratings, Met offers insurance to US citizens traveling overseas or permanent residents of Israel, China, Hong Kong and India and other countries insurance.
Chesapeake Life—Simplified Process, Great Rates. . . New Short-Form Application and Service Guarantees. Do you have clients looking for low face amount term or universal life? How about high non-medical limits? Would you like to use a true Express App process? Chesapeake Life offers all of this plus excellent agent commissions.
No-Lapse UL vs. 20 Year Term – Does it make sense? Take for example, a male age 45, preferred non-smoker looking for $250,000 of coverage. Assume that a No-Lapse UL stays in force until age 85. Compare that against a 20 year term policy that he converts to a UL policy at the end of 20 years, which then stays in-force until age 85. While the No-Lapse UL premium is initially more than a term policy - is there not a value shown in the following table?