Browse: Home / term insurance
By Ed Hinerman on March 26, 2013
We left off the other day with a description of Protective Life’s universal life conversion product, a product that simply defies the imagination. Since they introduced….no wait. They forgot to introduce the product. Since they gave their loyal term customers a bad UL suppository, agents and clients alike have been trying to figure out, beyond ...read more
Posted in bait and switch, conversion, Conversion to a permanent product, guarantee, guaranteed level premium, insurance, life insurance, lifetime guaranteed UL, loyal customers, over 50 life insurance, term insurance, universal life | Tagged adverse selection, bad UL, conversion option win/win, convert as investments, didn't listen to actuaries, insurance, life insurance, life settlement adverse selection, life settlements, millions of people to drink the poison, never hinted to agents, never hinted to customers, Protective life bad conversion option, Protective to greedy to listen
By Ed Hinerman on March 21, 2013
Even though Protective and West Coast Life fired me years ago I still get their propaganda and that, along with an almost simultaneous run in with a Protective abusee has once again fired me up again to remind all of you out there who have Protective linked policies, even those that go all the way ...read more
Posted in conversion, guarantee, guaranteed level premium, life insurance, over 50 life insurance, Protective Life, term insurance, universal life, West Coast Life | Tagged adverse selection, conversion option in term life insurance, determined permanent needs, honest life insurance agent, insurance, life insurance, over 50 life insurance, over 60 life insurance, policy rendered useless, Protective Life Actuaries, Protective Life protecting themselves, Protective Life term life, Protective Life term sales binge, reason for conversion option, removed permanent coverage from conversion, term life insurance
By Ed Hinerman on October 30, 2012
There’s still two more months to go and by any measure the life insurance industry has made strides in both underwriting and product design that speak well for the future, but especially should be an eye opener right now. I’ve tried to note each change or solidification of a change as it happens, but let’s ...read more
Posted in breast cancer, cancer, insurance, life insurance, mortality risk, no lapse guarantee, prostate cancer, rate increase, term insurance, universal life | Tagged AG38 reserves, best permanent product on the market, bipolar disorder, breast cancer, clinical underwriting, compliance and control, declines in the past, insurance, life insurance, life insurance underwriting, melanoma, no lapse guarantee UL, prostate cancer, rate increase, reasonal approvals, replace failing traditional UL, second to die life insurance, significant opportunity exists. small or large permanent policies, small window to apply, Type 1 diabetes, universal life
By Ed Hinerman on October 10, 2012
The CEO of a Denver based company contacted me today. He was shopping for life insurance and because he was a private pilot with almost no current flight time, as in none for 4 years, he was getting quotes that were through the roof. When you need millions in life insurance and companies want to ...read more
Posted in customer service, decline, executives, financial adviser, insurance, insurance quotes, life insurance, life insurance approval, term insurance | Tagged all quoted new insurance, buy/sell policy, buyer beware, ceo life insurance, conversion, gap in rate classes, insurance, life insurance, no current flight time, permanent less expensive than term, pilot, private pilot, wanted to replace, wasn't the right time to buy, wrong advice, wrong advice to make a buck |
By Ed Hinerman on July 23, 2012
The general public believes they have it figured out and that after age 50 life insurance prices take an astronomical leap into a realm delegated only to those with so little time left that express applications start to take on some real importance. To lend some credence at least to the urban legend, it seems ...read more
Posted in blood pressure, cholesterol, insurance, life insurance, life insurance approval, term insurance | Tagged age 50 doom for life insurance prices, age 50 life insurance, age 50 life insurance prices, controlled blood pressure, controlled cholesterol, cost of waiting, cost per thousand go up, guaranteed level premium 30 years, incredible value, insurance, life insurance, mortality risk of age alone is very fair, needs gone or waning, no quantum leap from year to next, other side of 50 life insurance, preferred plus mortality risk, understanding life insurance needs
By Ed Hinerman on July 18, 2012
I had a gentleman call me the other day to see what he could do about the mess his life insurance had ended up in. 10 years ago his agent converted his term insurance policy, at that time a Kemper policy and now a Protective Life policy. This man explained to the agent exactly what ...read more
Posted in assumptions, conversion, guarantee, insurance, life insurance, term insurance, universal life | Tagged agent told him guaranteed permanent, agents have to be held accountable, annual statement of cost and benefits, assumptions not guarantees, based on assumptions, companies have to be held accountable, conversion, duped by unscrupulous agent, fraud, insurance, life insurance, misrepresentation, negligence, Ohio state insurance commission, senior adult transaction, term insurance, traditional universal life insurance, universal life insurance
By Ed Hinerman on July 17, 2012
Not likely, but today ING Reliastar said they we discontinuing sales of the 25 and 30 year term products effective at the end of July. Probably the biggest impact this will have will be all of the mega agencies that have glommed on to ING because of the juicy contracts and bonuses offered. This isn’t ...read more
Posted in guaranteed level premium, insurance, life insurance, long term guarantee, no lapse guarantee, term insurance, universal life | Tagged 25 year term life insurance, 30 year term life insurance, bold statements, discontinue 30 year term life, fiscally sound, future of term products, ING Relistar, insurance, life insurance, long term guarantee, long term life insurance, no lapse guarantee, rate changes, rate changes from stronger companies, term life insurance |
By Ed Hinerman on July 11, 2012
A few years back I read an article in a trade publication and, well, I was much younger then and easily riled. I am still getting comments on the post I wrote about that article. In the life insurance business there is an organization called the Million Dollar Round Table, MDRT. MDRT is a kind ...read more
Posted in cash value, conversion, financial adviser, insurance, life insurance, mortality, term insurance, universal life, whole life | Tagged guarantee death benefit to 121, guaranteed level death benefit, guaranteed level premium, insurance, life insurance, permanent life insurance, poor performance of underlying investments, term insurance, term life insurance, term to age 100, universal life, universal life with a no lapse guarantee, whole life insurance |
By Ed Hinerman on July 10, 2012
Banner Life has and has had for some time the most competitive no lapse guarantee universal life products available. It has been a standout product in the industry because it not only guarantees a death benefit to age 121, but at no lapse UL prices it also has a cash value accumulation feature not unlike ...read more
Posted in cash value, conversion, insurance, life insurance, term insurance, universal life | Tagged 9% return, Banner Life, cash value accumulation, cost per thousand for long term guarantees, fair warning, guarantee death benefit to age 121, increase the rates, insurance, life insurance, most competitive no lapse universal life, no lapse guarantee universal life, permanent life insurance, unrealistic pricing, whole life insurance
