Like all the other brokerage firms, we have some great Term companies, and we can quote very low rates. However, we pride ourselves in giving you "accuracy", not just a competitive price. Some companies are competitive in the "super preferred" risk classes, but others are better if your client is more likely "standard".
This is where we can be very helpful to you, IF we have enough information about your client in advance. To get a helpful quote information sheet, which includes questions we need answered for accurate quoting, click HERE .
Lincoln National is an A+ Best rated company with some of the best Term rates around, and they are included in our web Term Quoter so you can compare with our other companies (min. face for Term is $250,000 with LFG). They offer 10, 20, and 30 year guarantees, and their compensation is also among the best! They are especially good when you have a "dipper or chewer" because they allow standard non-tobacco rates assuming client would otherwise qualify for that class. When you need an A+ company with national recognition, try Lincoln National.
Genworth is among the companies with competitive rates right now for Term and Guaranteed UL. They are over 100 years old, great financial ratings, and they are making it EZ for agents to write business! Just try out their new 1 page preliminary application, fax it to us, and we'll do the rest! No client signature needed up front, paramed gets all signatures and collects money for you! Be sure you are contracted with this company, every agent needs them! Call us to review this EZ process! Call for details.
Banner Life has VERY competitive rates right now, and they also have a super EZ pre-lim app that will make your life easier. Imagine, no client signature required, start the process by phone with your client! Call for more info. Term periods available are 10, 15, 20, and 30 years, depending on age. They also can write face amounts down to $50,000. Here's something NEW: use one Term policy to write 2, 3, or 4 different Term periods! Let us rephrase this, you can now "ladder" your clients coverage in one policy, meaning (for example) sell a $100,000 30 Year Term base policy, and put a $200,000 10 year term rider and a $200,000 20 year term rider on the base plan. That cuts the cost dramatically. Call us for more info. (You can't do the "laddering quote" on our website quoter at this time, BUT we'll be happy to run the quote for you.) Rated A+ by Best, too! For Banner Life marketing information, including agent ads and rate sheets, click here.
American General is very competitive on Term rates, and has 2 products to choose from: Select a Term allows you to pick from many term periods (10, 15, and 20 thru 30), and ROP Select a Term (return of premium). The ROP Term plan from AG has a little different "wrinkle" that your clients will like. Like other similar plans, a client can select an option to get all of their money back at the end of a guaranteed premium period, BUT with AG's product they also have the option to take a guaranteed reduced paidup death benefit instead of the refund! So, if someone wants a lot of coverage in the early years, and then some coverage to keep to age 95 with NO premium required, this one fits! AG is the only company currently offering this feature. The ROP plan is now available in 15 year version, or 20 to 35 year versions, similar to the traditional Select a Term plan.(To see the "Paid Up" feature in a quote, you must use AGL software, or call us for a full quote.)
Click here to get American General quote now!
American National is very competitive in the Term market, especially when your client is probably not "super-dooper preferred", and possibly impaired risk situations. They also have a new ROP Term plan, call for details. Plus, with their plans, clients can access death benefits early for chronic illness, critical illness, and terminal illness. "Mr. Client, you don't have to die to have access to benefits." Great "A" rated company, in business over 100 years.
We have several markets for UL plans, including products that have "long term guarantees". These types of plans are very popular with conservative-minded consumers, and several companies have introduced this type of product in the last few years, including American General, Genworth, American National, Banner Life, and Lincoln National.
These types of UL plans typically guarantee death benefits to age 100+, even if there is NO cash value. Flexible premiums allow clients to put the emphasis on guaranteed death benefits (imagine a "Term to age 100" plan), cash value accumulation, or both. Call for more information, and to check availability in your area.
To get an instant quote on a UL that guarantees death benefits to age 90 or longer, go to our Online Term Quoter ( click HERE to go there now ), and when selecting coverage periods, check the box called "Guaranteed UL". Even though these are technically UL products, you can make them look like "Term to any age". Call for details.
NEW PRODUCT! American General now offers a "guaranteed UL" product that has lifetime guaranteed premiums competitive with other carriers, BUT also builds guaranteed cash value! You can essentially "dial the guarantee" period that you want, all the way to age 120, and even guarantee "short pay" situations such as "age 65"! Call for details!
Whole Life is usually more expensive than any other type of life insurance plan because it generally offers all 3 unique guaranteed features below:
- Guaranteed premiums forever*
- Guaranteed coverage forever*
- Guaranteed cash value growth
We have several with great whole life plans, like SBLI, Minnesota Life, Penn Mutual, MetLife and more.
For the client who doesn't want to pay premiums forever:
Several of our whole life companies offer guaranteed paid up policies, such as MetLife's Promise Whole life 10 pay, 20 pay, and pay to 65.
Most whole life plans offer reduced paid-up benefits, as an option. Generally, after about 15-20 years of premiums, a client can take a paid-up policy for about half of the original face amount or "Participating" whole life plans offer dividends (not guar.) that can also be used to shorten the premium payment period.
With all the talk about "estate tax changes", your wealthier clients definitely need to be going to their legal advisors for a review. Congress has set a $5 million exemption level, with a 35% bracket max through 2012, but if no new legislation is passed, we go back to 2001 rules which will make even more estates susceptible to estate taxes (call us for more details). To view a table of current tax liability, click HERE.
Clients need to get to their attorney or accountant, and find out what their situation would be. And, if their estate will be short of liquid cash at their deaths, a SECOND TO DIE policy could pay the taxes for them, leaving their estate intact for their beneficiaries. If your clients don't have an estate attorney, we can perhaps recommend one in your area.
Second to Die plans were designed to pay the death benefit after BOTH insureds (ie: husband and wife) have passed away, which is typically when the estate tax problem comes into play. When your client asks about "estate planning" or getting an "estate tax policy", this is where you can help them a lot. Generally, if one spouse is insurable, we can get a survivor policy issued to cover both of them, because the company doesn't have to pay the benefit at the first death.
These products can be used for other situations, too. Suppose you have a couple with children and both making a good living, and they think they don't need life insurance because "my spouse will be able to live comfortably and provide for the kids even without my income". Well, Mr. Prospect, "what if both of you die?" A Second to Die policy would be cheaper than buying policies on each spouse, and satisfy that "what if". There may be some businessowners (and their banks) that may have a similar mind-set, and you could cover partners with one Second to Die plan in many cases to fulfill a need. Give us a call for more information.
We have a couple of companies that offer graded benefit plans for people who normally could not qualify for standard policies. When you have a client that fits this situation, give us a call. We will need a supplemental questionnaire (see impaired risk link above) related to their health condition(s) to recommend the best product.
has a plan that may fit your impaired clients, and it comes in 2 versions: 10 Year Term and Whole Life. If death occurs during the first 2 years, for other than accidental reasons, the benefit is graded. It is not for people who have a life expectancy of less than 2 years. For more information on this product, call us or click on the following link: Fidelity Life QUICK QUOTE(Select either graded benefit Term or Whole Life in the product window)
Assurity Life offers several options for whole life and final expense coverage, including simplified issue for certain situations. Click on the links below to view a brainshark presentation on their full underwriting and simplified underwriting products, available as low as $10,000 at most ages:
Full underwriting whole life
Simplified underwriting whole life
American National also has whole life policies down to $15,000 face amounts, for people who want guaranteed lifetime rates and cash value accumulation over time. If your client would qualify for "preferred" discounts, this will probably be the best market. They also have an LP65 product, guaranteed to be "paid-up" at age 65, and earlier "reduced paid-up" options are also available on their other whole life products. A "guaranteed to age 100+ UL" product is now available with a $25,000 minimum, also. "A" Best rated company, and in business for over 100 years. Call for details on these products.