So now that you have kids - where do you get your life insurance from?

[yaakov s]

i will sell you a (lets call it) better policy with lower commission for me, so i can establish an ongoing relationship with you.....

Your different you dont fool guys to buy brand name policies because of conversion etc. but the reason that NY Life, Metlife,Guardian etc agents  sell there own term policies is probably to make less commision in order to help you more

[yaakov s]

i have yet to hear first hand from an almana that she got paid by these areivim, and yes i have asked.....................

if you dont have your own life insurance contract in your hand, u have nothing

+1000000

For bubkes get yourself some legit coverage for heavens sake

[yaakov s]

Please be more specific, what exactly are you asking?

i was asking about the State Guarantee fund it got answered already Thanks

[Yosel]

Your different you dont fool guys to buy brand name policies because of conversion etc. but the reason that NY Life, Metlife,Guardian etc agents  sell there own term policies is probably to make less commision in order to help you more

Sound like u had a bad expirience with a life insurance broker! care to share?

[AsherO]

Anyone heard of Kol Yisrael Areivim?:
http://www.kolyisraelareivim.org/

1. They don't quite spell out their membership details but at $6/month this doesn't sound sustainable...
2. There's no guarantees for this, they could theoretically fold one day.
3. Don't they need a license to run an insurance company? (I don't think the fact that they're non-profit matter)
4. Do they really think their organization will mean no more panhandlers in the neighborhood?

Your different you dont fool guys to buy brand name policies because of conversion etc. but the reason that NY Life, Metlife,Guardian etc agents  sell there own term policies is probably to make less commision in order to help you more

I think what you're referring to is the difference between captive agents and independent agents. Independent agents can usually leverage the offerings of multiple insurance carriers so they have more of a variety and a higher likelihood to sell you something cheaper for your specific situation/needs.

[yaakov s]

no, i said better price for you, as well as the relationship

Could you spell it out clearly . If I go online and get a price quote of lets say $700 for 1 mil 30 year term from Company A you could get it for less??

[yaakov s]

Sound like u had a bad expirience with a life insurance broker! care to share?

No I actually have a broker I love and I dont have term from him I have whole life from him. I approached him for it .


Im just passionate about people getting ripped off

[ceejay]

It isn't $6/month its $6 per child if something c"v happens According to their calulations they have 16,500 members so thats $99,000. The problem is they cap it at $24/month

[yaakov s]

I think what you're referring to is the difference between captive agents and independent agents. Independent agents can usually leverage the offerings of multiple insurance carriers so they have more of a variety and a higher likelihood to sell you something cheaper for your specific situation/needs.

Exactly I guess our good friend Yosel is an independent agent even though Im not sure why hes saying he could get a policy cheaper then someone else could . Unless hes referring to shh!! kickbacks the price is set by the insurer

[AsherO]

It isn't $6/month its $6 per child if something c"v happens According to their calulations they have 16,500 members so thats $99,000. The problem is they cap it at $24/month

Unless we know what they're giving per situation we cannot possibly measure the sustainability of this. i.e. if each orphan gets $1/month it's much more likely to work than if they get $1,000/month. At $10,000/month it's probably not sustainable.

You also have to account for adverse selection. Considering they accept everyone at the same premium, there's higher propensity for applicants who don't qualify for traditional insurance (or qualify at much higher premiums). These applicants ostensibly have a shorter projected life span (in aggregate).

[yaakov s]

There is a factor that I know a few cases about that a captive agent with a good relationship with underwriting got people with bad health, history etc. better ratings then they would of gotten by just someone off the street. I'm talking about someone young and relatively healthy.

[AsherO]

Exactly I guess our good friend Yosel is an independent agent even though Im not sure why hes saying he could get a policy cheaper then someone else could . Unless hes referring to shh!! kickbacks the price is set by the insurer

It's theoretically possible the same insurer will write the same policy at different premiums depending on the commission, after all, money to pay commissions comes out of monthly premiums.

There is a factor that I know a few cases about that a captive agent with a good relationship with underwriting got people with bad health, history etc. better ratings then they would of gotten by just someone off the street. I'm talking about someone young and relatively healthy.

This was approved by underwriting, or it got pushed through by withholding information (which is ethically questionable)?

[yaakov s]

Unless we know what they're giving per situation we cannot possibly measure the sustainability of this. i.e. if each orphan gets $1/month it's much more likely to work than if they get $1,000/month. At $10,000/month it's probably not sustainable.

You also have to account for adverse selection. Considering they accept everyone at the same premium, there's higher propensity for applicants who don't qualify for traditional insurance (or qualify at much higher premiums). These applicants ostensibly have a shorter projected life span (in aggregate).

Tachlis does anyone know of an actual payout that worked, Not that thats proof that its sustainable but at least we see that they really exist.

But still come on its your wife and kids you spens Gazzilions of dollars to clothe feed and educate them do you really want to save a few bucks on legit proven Life Insurance

[yaakov s]

It's theoretically possible the same insurer will write the same policy at different premiums depending on the commission, after all, money to pay commissions comes out of monthly premiums.

I believe it isnt so are you theorizing or you know its true

[yaakov s]

This was approved by underwriting, or it got pushed through by withholding information (which is ethically questionable)?

100% legit nothing hidden at all . Not from table F to preferred plus but still an improvement

[Yosel]

Could you spell it out clearly . If I go online and get a price quote of lets say $700 for 1 mil 30 year term from Company A you could get it for less??

there is a good chance

[Yosel]

Exactly I guess our good friend Yosel is an independent agent even though Im not sure why hes saying he could get a policy cheaper then someone else could . Unless hes referring to shh!! kickbacks the price is set by the insurer

C"v no kickback from me, i gotta feed my kids

[AsherO]

Tachlis does anyone know of an actual payout that worked, Not that thats proof that its sustainable but at least we see that they really exist.

But still come on its your wife and kids you spens Gazzilions of dollars to clothe feed and educate them do you really want to save a few bucks on legit proven Life Insurance

I'm not suggesting it's sustainable, I'm just saying I can't prove my hunch that it isn't because (from what I saw on their site)  they don't publish a payout (which in itself is suspicious).

I believe it isnt so are you theorizing or you know its true

I'm theorizing, I said so specifically. Maybe Yosel can weigh in...

there is a good chance

Are you saying for sure that you've sold the exact same policy from the same exact carrier with the same coverage/riders etc. for a lower premium?

Either you have, or you haven't, which one is it?

[Yosel]

There is a factor that I know a few cases about that a captive agent with a good relationship with underwriting got people with bad health, history etc. better ratings then they would of gotten by just someone off the street. I'm talking about someone young and relatively healthy.

as an example, some times you r looking for a company that does not look into family health history...............
this a strong factor in our days

[yaakov s]

as an example, some times you r looking for a company that does not look into family health history...............
this a strong factor in our days

So you CANT get it for cheaper however you are saying that you have knowledge that the computer doesnt great thats why you go online to keep the agent straight