by Ed Hinerman | Jan 11, 2012 | cash value, guarantee, indixed universal life, Infinite banking, insurance, life insurance
A few days ago another agent took offense to my obviously uneducated view that indexed universal life is a poor excuse for a life insurance product, especially in the context of infinite banking. He commented on a post by starting with “I’m sure your completely...
by Ed Hinerman | Jul 6, 2011 | accelerated death benefit, conversion, insurance, life insurance
A few days ago I was on a bit of a rip over the subjects of conversion privileges and how far too many companies are changing products offered to non guaranteed UL’s, rather than permanent products. The answer lies somewhere in a slight of hand the companies are...
by Ed Hinerman | Apr 9, 2011 | AARP, final expense life insurance, insurance, life insurance, over 50 life insurance, senior life insurance
A few years ago I shopped for final expense life insurance just to see what was available and being pushed. I knew there was a propensity in the industry to push some really overpriced, under guaranteed products as senior life insurance. I just wanted to experience...
by Ed Hinerman | Feb 16, 2011 | conversion, insurance, life insurance, over 50 life insurance, universal life
What is your definition of permanent! First thing that comes to mind for me is something that never goes away. OK. I know the earth could blow up and then all bets are off when it comes to anything attached to the earth, but let’s assume that it doesn’t...
by Ed Hinerman | Feb 12, 2011 | AIG, conversion, guarantee, insurance, life insurance, term insurance
I’ve always been an advocate of buying a term life insurance length, or multiple term insurance policies that reflect your actual life insurance needs with different term lengths. Due to some recent changes in conversion options I am considering an amendment to...
by Ed Hinerman | Dec 9, 2010 | conversion, life insurance, term insurance, whole life
Published 12/9/2010, updated 11/25/2019 2009 saw some revolutionary changes in term life insurance, and when I use the word revolutionary I am thinking more like the revolutionary war than revolutionary as in good change. In 2009 there was the introduction of the...
by Ed Hinerman | Nov 16, 2010 | guarantee, insurance, life insurance, universal life
I received an email today from a person that says he was deceived by his life insurance agent about the length of the guarantee on a UL. I have no way to authenticate the email since my reply came back undeliverable and there was no phone number given. So, while the...
by Ed Hinerman | Oct 15, 2010 | conversion, insurance, life insurance
Here we go again! I have a customer that has a 20 year term policy in force with American General. It’s been in force about 6 years and when I called the other day for an annual review he asked what it would cost to convert $100,000 of the policy to permanent. I...
by Ed Hinerman | Oct 11, 2010 | conversion, insurance, life insurance, term insurance
I had this comment on a post the other day from Richard. “Just got off the phone with Lincoln and AM Family Insurance. No conversions on universal life policies. Ours are 15-19 years old, while there is no termination fees, if we cashed, they advise we to treat...
by Ed Hinerman | Sep 28, 2010 | guarantee, guaranteed level premium, John Hancock, life insurance
I’ve written multiple times on the need for guarantees in life insurance. “Make sure the insurance you have has a guaranteed rate for as long as you’re going to need it”……”Don’t buy any insurance that doesn’t have...
by Ed Hinerman | Sep 21, 2010 | insurance, life insurance, whole life
John Hancock announced today that sales of their Protection Whole Life product will be temporarily suspended “due to the ongoing low interest rate environment”. Protection Whole Life has a guaranteed interest rate of 5%, slightly higher than industry...
by Ed Hinerman | Aug 26, 2010 | guarantee, insurance, life insurance, universal life
I had to change the top of my drum today. I’ve worn it out over the past two years beat it about all of the absolute crap (forgive me) that insurance companies are trying to pass off to consumers in the form of non guaranteed universal life and whole life...
by Ed Hinerman | Aug 18, 2010 | AARP, insurance, life insurance, senior life insurance, term insurance, whole life
When a person gets into their 60’s, 70’s and above there is a real life insurance industry tendency to try to shove them into the final expense market, even at a time when people are working longer and have larger needs than most final expense policies...
by Ed Hinerman | Feb 9, 2010 | guarantee, insurance, life insurance, term insurance
Life insurance companies, even highly rated companies, come and go. While some sell their blocks of business because they’re not competitive anymore, many decide to sell because another company offers them a huge amount of money. Protective Life made the board...
by Ed Hinerman | Feb 4, 2010 | insurance, life insurance, universal life, whole life
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...
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