Browse: Home / conversion option
By Ed Hinerman on April 23, 2012
I thought it would be good to revisit some of the original posts on this forum. It’s been over 5 years and somewhere near a million words now and I wanted to see if I’m like a politician and flip flop on issues, or as I found in a few cases, the issues flip flopped ...read more
Posted in conversion, death benefit, estate taxes, insurance, life insurance, term insurance | Tagged affordable death benefit, changed the conversion option, conversion, conversion made you insurable again, conversion option, death benefit, insurance, life insurance, life time guarantee UL, no conversion option, permanent universal life insurance, term life affordable, term life appropriate, term life insurance, term life practical, term/ul |
By Ed Hinerman on February 25, 2012
If good customer service cost less than bad customer service, which would you choose. Trick question, right? Let me qualify that question a little. If you knew ahead of time that you were making a major purchase that offered little or no customer service after the fact, and you could get the same product for ...read more
Posted in accelerated death benefit, conversion, customer service, guarantee, honesty, Independent agent, insurance, life insurance | Tagged accelerated benefit rider, annual review, close the sale, conversion option, good customer service, indexed universal life, insurance, keeping you informed, life insurance, life insurance customer service, life insurance earned bad repuration, no customer service, one bad product to another, open and honest, opportunity to sell, push to close the sale, total honesty, universal life, variable universal life, what's guaranteed, what's not guaranteed |
By Ed Hinerman on January 5, 2012
A lot has changed over the past 30 some years in life insurance. Products have been invented and disposed of. Bells and whistles have been implemented and some of them have been disposed of. With a few notable exceptions though, the basic term life insurance policy hasn’t changed much. When’s the last time you had ...read more
Posted in accelerated death benefit, conversion, insurance, lapse, life insurance, reinstatement | Tagged accelerated benefit, agents don't stay in touch, basic term life insurance policy, change payment modes, conversion option, conversion option changed, dangerous hobby, filing a claim, grace period, important clauses, insurance, life insurance, life insurance agent, non smoker, options in term insurance, policy as a smoker, policy lapse, premium guaranteed to remain level, quit smoking lower premiums, reinstatement, review on an annual basis, terminally ill
By Ed Hinerman on December 5, 2011
As West Coast Life dips slowly below the sunset, absorbed by their sister company Protective Life, I can only say, well, I actually can’t say it. Never has a company deserved to come to an end more than West Coast Life. Please don’t think these words have anything to do with the fact that they ...read more
Posted in conversion, insurance, life insurance, over 50 life insurance, term insurance, universal life, West Coast Life | Tagged conversion, conversion option, convert policy to permanent, didn't care about loyal customers, Greg Zabel, insurance, life insurance, no memo to agents, no memo to customers, permanent converison products, Protective Life, term life insurance, Universal life with 10 year guarantee, West Coast Life |
By Ed Hinerman on November 1, 2011
In what appears to be a screeching halt to the bottoming out of term insurance prices, several companies moved within the past month to unseat perennial term insurance giant Banner Life, a subsidiary of Legal and General America. Banner responded today by lowering rates in their three best rates classes, preferred plus, preferred and standard ...read more
Posted in Banner Life, insurance, life insurance, term insurance, West Coast Life | Tagged Banner Life, conversion option, impaired risk life insurance, insurance, Legal and General America, life insurance, lifetime guarantee, lowering rates, preferred, preferred plus, Pure term, refund of unused premium, standard plus, surrender charge, term life insurance, term/ul, West Coast Life
By Ed Hinerman on June 22, 2011
I got a company memo today, that in light of all of the companies who have gone the wrong direction in the last year, caught my eye. “Delivering on Promises”. I wasn’t even sure what it was going to be about but I was pretty sure this would be something I would want to share ...read more
Posted in conversion, insurance, life insurance, term insurance, universal life | Tagged conversion option, conversion privilege, insurance, life insurance, Lincoln National, NAIC, National Association of Insurance Commissioners, permanent insurance, Savings Bank Life, term life insurance, West Coast Life
By Ed Hinerman on February 12, 2011
I’ve always been an advocate of buying a term life insurance length, or multiple term insurance policies that reflect your actual life insurance needs with different term lengths. Due to some recent changes in conversion options I am considering an amendment to my recommendation. It all started last in the summer of 2009 with West ...read more
Posted in AIG, conversion, guarantee, insurance, life insurance, term insurance | Tagged conversion, conversion option, guaranteed, insurance, life insurance, permanent life insurance, term insurance, term life insurance |
By Ed Hinerman on February 12, 2011
The life insurance industry made a big deal of the year 2000 and the impending monster changes in the term life insurance pricing that were just waiting for the ball to drop in Times Square. They even came up with a special name for the event, Triple X. The whole country was caught up in ...read more
Posted in insurance, life insurance, universal life | Tagged conversion option, estate planning, external guarantee, insurance, life insurance, lifetime guarantee, no lapse guarantee universal life, permanent life insurance, price increase
By Ed Hinerman on November 24, 2010
United of Omaha came out with a marketing piece today that just made me smile. One of the things I feel so very strongly about in life insurance is the ability to convert a term insurance policy to a permanent life insurance product. Some companies have recently come up with creative, and not so creative ...read more
Posted in conversion, insurance, life insurance, West Coast Life | Tagged AIG, Banner Life, conversion option, conversion privelege, insurance, life insurance, permanent insurance, term insurance, United of Omaha, West Coast Life
By Ed Hinerman on October 25, 2010
I recently wrote about kind of running across a new (this year) change in American General Life’s term conversion rules that really stinks for anyone who has had their term policy for more than 5 years. It particularly struck a raw nerve because I was trying to help a client convert a portion of his ...read more
Posted in conversion, insurance, life insurance | Tagged American General, conversion, conversion option, insurance, life insurance, term conversion, term insurance, UL, universal life |
