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Posts Under term life insurance Category

Who Would Raise Life Insurance Rates More Than 50%?

Who Would Raise Life Insurance Rates More Than 50%?

The answer that pops into our head in the super competitive life insurance market is a company that doesn’t want to sell any more life insurance, or more specifically in this case doesn’t want people to buy any more of one product until they can get it off the market. Genworth Life and Annuity, formerly First Colony has found themselves holding a term life insurance conversion product...
Protective Life Just Never Quits!

Protective Life Just Never Quits!

With that title someone might think we’re about to say something good about Protective Life, or is it Dai-Ichi Life? Anyway, we really sort of thought that when Protective sold themselves to the Japanese insurance giant Dai-Ichi, there might be some let up in their never ending appetite for screwing clients. I was surprised yesterday when a client called and mentioned that they had received...
No Life Insurance Late Payment Notice? What Is Protective Thinking?

No Life Insurance Late Payment Notice? What Is Protective Thinking?

We get customer service. It’s a good thing where you go out of your way to make sure things work out satisfactorily for a client. That’s why life insurance companies send out late payment notices during the grace period to make sure that a customer didn’t miss their statement which could lead to an unplanned lapsed policy. I was talking to a Protective Life insurance client, reti...
Business Life Insurance At the Highest Levels!

Business Life Insurance At the Highest Levels!

Business uses for life insurance tend to be the elephant in room that no one wants to talk about. He’s there. He’s real and huge, and he has the ability to stomp the life out of a company, but Executives and Boards of Directors often skirt the issue of life insurance unless it is required to do business. We have an accountant that has been trying to get the two partners of a $14 millio...
Do You Know Your Term Life Insurance Conversion Option?

Do You Know Your Term Life Insurance Conversion Option?

We used to play dominoes when we were young, kind of a fun game. We would stand them all on end in some intricate design and then tap the first one and watch joyfully as they all fell. We are currently witnessing a real live domino effect with life insurance companies scrambling for a way to knock over their domino. For years these companies have offered their most competitive lifetime guarantee...
Protective Life Conversion Issues!

Protective Life Conversion Issues!

Having been long ago cut loose from all affiliations with West Coast Life, Protective Life and all of the other companies that Protective has gobbled up over the years, cutting the slack isn’t very high on my agenda. The truth is if I could somehow slip wording into their life insurance policies under the conversion option that said “best read when bending over”, we don’t t...
Term Life Versus Guaranteed Universal Life! What’s The Difference?

Term Life Versus Guaranteed Universal Life! What’s The Difference?

The quick answer is really nothing other than the length of the guaranteed coverage period. Term life insurance can be guaranteed for as little as 1 year and as many as 30 making it an excellent planning tool for probably 95% or more of all life insurance needs. With younger clients we almost always suggest a 30 year term for the simple reason that, well, when we’re young we really aren̵...
Low Life Insurance Rates Cost Someone More!

Low Life Insurance Rates Cost Someone More!

Coming on the heels of another rate decrease by one of the leading term life insurance companies we have raised the question with some companies, if the best rates are going down, whose pocket is that coming out of. We understand that making your best two rate classes more competitive lures more healthy young people with less risk, but when you lower the profit margin at that point, don’t yo...
Is Term Life Insurance A Waste Of Money?

Is Term Life Insurance A Waste Of Money?

“I’m betting I’ll die and the life insurance company is betting I’ll live”! How often we hear that in discussion about term life insurance and the idea that you may come to the end of it and have spent all of that money. For some reason it really grates against human nature if we don’t collect on insurance that we’ve paid into forever, or at least for long...