Many agents who sell life insurance over the phone have a favorite graded death benefit plan. My personal favorite is Fidelity Life’s graded death benefit plan because it’s an online application and has approvals within 48 hours. However, it pays less compared to other graded plans and is an ROP during the graded period.
Here are the changes that will be announced in the next few weeks:
- Changing from a 2 year waiting period to a 3 year waiting period (booo!)
- Issues up to age 80!
- Premiums will decrease!
- Commissions will go up!
- It will be a true graded product, not an ROP
That’s all the information I have at this point – just wanted to give agents who are selling Fidelity’s graded plans a heads up.