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@noguru You should report ‘her’ to her company and the licensing board. You should also pay smoker rates.

@tamimolina888 So without knowing your age or the details of the policy we can’t comment on whether it is high for what you have it if it’s a good deal or not. Having said that presuming the payments will remain level you’re paying 1.2% per year for $1,000,000 which doesn’t seem unreasonable...

@zakk Most of them have options. At the very least any of them will let the benefit be paid as a fixed term annuity. I’d speak to a broker in your state or Province and depending on the specifics of what you’re looking to set up they’ll point you in the right direction.

@yhjmkiop There are many cases in which gambling g debts are enforce. Presuming you and your friend made the bet in a state that explicitly permits social gambling and you both reside in that state you absolutely can file a tort.

@lordagary Ratings are either flat extras (You will pay an extra $5 per year per $1,000 of coverage) or they are quoted as a higher risk premium (ie. If the cost of your premium is $1,000 per year we will assess a 50% rating on that so the premium for you is $1,500).

@hangngand The fact that you sold ‘whole life’ for years yet refer to UL’s as whole life makes me question not just what you knew while you were selling but what you know now.

@lordagary It depends how you define it. If the price increases they will earn more dollars but the rate doesn’t change. If the coverage is adjusted to maintain premium they’ll earn the same amount. Basically they’re paid on volume of premium dollars at the same rate. Edit: Temporary flat...

@lordagary You realize being paid more for a larger premium is how brokers get compensated right? He has no more of a conflict of interest retest now than when he chose the company you applied with. You knew or should have been told by your agent of the possibility of a rating when applying...

@katmack No, no, no. Buy $2,000,000 of convertible term for about $100 a month and focus on your studies. And NEVER work with the either unethical or ignorant swine trying to sell you the whole life policy now. Once you are established and working with a net positive income you can start buying...

@jane3322 Thanks for sharing. A good reminder to work with quality professionals with knowledge and experience so as to avoid mistakes like this.

@famof6 Not going to discuss the clients perspectives but term insurance has much higher profit margins than permanent policies and are much more of a guarantee if cash flow and profitability to insurance companies. Primarily due to the fact there is a term, hence less variability and the much...

@tdhope While I agree with your premise OP the pitch is pretty shoddy. Which makes me wonder about the quality of lead that you consider acceptable both here and those that you may generate for clients. For a small fee I am available to help you sharpen your pitch.

@21chicken You should probably talk to an educated person at the very least.

@regmer The question then would be how are life companies regulated and what associations guarantee what amount of their payments in the event of default? Further how are the associations funded and what legal rights do they have to levy fees to cover the shortfall of a defaulting company?

@anointedfeet Hi, Canadian life insurance agent here. You got screwed. Whoever put your application in didn’t know what they were doing. Unfortunately now as you’ll have a record on the Medical Information Bureau even the company’s that wouldn’t have asked for specifics will. Depending on the...

@regmer That would be an example of sampling bias.

@christiansworldwideweb Purchase separate critical illness and disability insurance policies. Living benefits policies are much better at providing living benefits.