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Term LifeXtender is a revolutionary new program that allows life insurance agents to access an untapped market — one that’s overflowing with prospects.
If you have clients in their 60s or early 70s who own a term insurance policy and have experienced a health event, they are prime prospects for Term LifeXtender.
Founder and creator, Andy Hyman, built Term LifeXtender to protect term life policyholders like him from losing their coverage when they need it most.
When Andy was 67, he had an expiring $2,000,000 term life policy that he had to convert to universal life because he no longer qualified for standard insurance due to coronary bypass surgery.
Converting his policy increased his premium over fivefold.
Like most term life policyholders, Andy had no intention of keeping the policy when he purchased it initially. However, when his health took a turn, retaining coverage became crucial.
Andy realized that what happened to him happens to many policyholders. That’s why he worked with a team of FSA Actuaries and medical directors to develop Term LifeXtender.
Term LifeXtender is the first program of its kind and has received two patents:
Many agents have virtually abandoned trying to convert existing term life insurance into permanent insurance. The sale is difficult primarily because the increase in premium to convert is usually cost prohibitive. This is particularly true in the older marketplace.
With Term LifeXtender, agents finally have a way to serve clients over 60 with declining health at a price they can afford. Agents can now extend term life insurance for their clients, grow their business with a new untapped market, and earn more commission than ever.
Contact us today to find out how your clients and business will benefit from Term LifeXtender.