The Myth About No Exam Life Insurance!
It may not be advertised as much as “ED” medications, but there is no lack of attempts to get you to look at various life insurance offers that hang their hat on the fact that you don’t have to take an exam. “No exam” life insurance is known as simplified issue life in the business, ...read more
Right Is Right No Matter How You Paint It!
Over the past several months I have had a running dialog in this forum with the vice president of a major life insurance company. In question was that company’s decision to replace their no lapse guarantee UL as an option for conversion with a universal life policy that only has a 10 year guarantee. As ...read more
Life Insurance For Dummies, Or By Dummies, Or….
“If you need life insurance for more than 20 years, choose whole life; for 10 or fewer years, choose term life. For the time in between, ask a licensed professional to review your situation.” This patently ridiculous advice came from an article titled Term vs Whole Life”, I read recently by someone is most definitely ...read more
Banner Life Did What?
A week or so ago an associate called to tell me that Banner Life had a new no lapse guarantee UL that was going to stir things up. Better guarantees! Better prices! Better underwriting! I had my first opportunity to test it today. I had a lady contact me about a policy that her father ...read more
How Do Life Insurance Agents Get Paid?
Clients being ever vigilant for the fine print or hidden costs occasionally ask how I get paid. The core of the question for them is, of course, any additional cost they might incur above and beyond the premium. Almost all life insurance agents are paid on a commission basis by the company. For term insurance ...read more
Is Common Sense Making A Comeback?
Of course that questions begs another question. Has common sense ever been a standard of life insurance underwriting? The real answer is yes. Absolutely yes. Before the big changes that came with the shrinking number of reinsurance companies and before we were traumatized as a nation financially…..back in the good old days about three years ...read more
What Happens If My Life Insurance Company Goes Out Of Business?
Fair question since over the past ten years we have seen some shocking things happen in business. Highly rated, highly respected companies biting the dust. What about Enron? Not an insurance company, but poor management of a large trusted company. So, what if it had been an insurance company? What if it had been a ...read more
Out With The Old, In With The New!
There is a tendency for people to just hold on to life insurance once it is in force, even when opportunities to improve on the rate or the term length come up. Most often this happens when their isn’t a servicing agent around to find the better deals and encourage the change. This week I’ve ...read more
Could Your Planned Giving Blow Up?
In working with a planned giving department of a major university on their life insurance program, I advised their lead attorney that a critical place for them to start is a complete review of the insurance policies that are already on the books. I’ve screamed and yelled about the horrible state of in force permanent ...read more
A+ Company Extends Best Possible Offer To Private Pilots!
So many life insurance companies have come so close, but none have ever stepped off the edge and done it. Preferred plus rates with no extra charge for private pilots who don’t have an instrument rating. ING Reliastar came out with their preferred plus and a $.48 flat extra per thousand and got everyone’s attention ...read more
