Life Basics
These are the four basic forms of life insurance
Term
Whole
Universal
Variable
Product someone likely needs if they are older and want to make sure their final expenses are covered
13z or 29k
Platform we use to quote, run illustrations, and do applications
eApp
min $2,500 benefit
max $30,000 benefit
Who can we sell life insurance to?
Anyone and everyone who is healthy enough to qualify!!!! Friends, family, your barber, bartender, anyone who just bought a house or had a kid!
What types of life insurance does Bankers offer?
Whole life
Universal life
Term life
Product that would make most sense if someone is in their 20s or 30s and want to lock in insurability for the rest of their life
19F
Platform we use to try and best find out what rating somebody may get
eValuate
min and max benefit on 13z
min $2,500
max $50,000
The IRS code wherein you can transfer cash value on a policy into another policy
1035 exchange
Age 18-65
Answer no to all health questions
Applying for $30,000-$150,000
The product someone needs if they're young, have a big mortgage, debt, and need income replaced for years on end
20yr Term
Resource we use if we have any technical questions about any of our life products that we offer
Agent Guide
Minimum benefit amount on the relia term
$100,000
What is the benefit amount you can access on a life policy with ABR built in?
75% of the death benefit
This is the max amount of coverage someone can apply for before needing special permission from Bankers Life
$2,000,000
Product someone most likely needs if they have a large sum of money they will never need and want to ensure they leave it for their beneficiaries
SPWL
3rd Party we use when we need to schedule medical exams
APPS or ExamOne
What's the most amount of "risk" or benefit that Bankers Life will give to a SPWL policy over and above their lump sum premium?
$60,000
How do you properly structure a LIRP for someone who is super young and wants to use life insurance as a retirement income vehicle
Life Insurance Retirement Program
Death Benefit Level B increasing
Max fund premium below MEC level
What are the requirements for ClearPath life program?
18-65 age
Coverage $150,001-$499,999
Must have had blood, urine exam done within the past 12 months on file accessible
Product someone likely needs if they want to cover their final expenses and they're older but have a boatload of healthy issues including
CP GBL
Platform we use if we want to access all of the marketing materials and product brochures available to us
ePresenter
Table P
After year 10 it's the wash loan provision