Cold Calling Final Expense

[Colombianking49]

You are not correct. ANY business calling ANY residence for ANY reason MUST have written permission (recent signed lead card) or an ongoing business relationship where they have made a payment to you within the past 13 months to call people on the DNC list.

Thanks for the clarification...

Here is a link on wiki elaborating on the matter if anyone is interested...

 

[Newby]

I thought it was 18 mos.

You are correct.
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Here is more clarification

Are calls from political organizations or calls soliciting for charities covered?
Political solicitations are not covered by the TSR at all, since they are not included in its definition of “telemarketing.” Charities are not covered by the requirements of the national registry. However, if a third-party telemarketer is calling on behalf of a charity, a consumer may ask not to receive any more calls from, or on behalf of, that specific charity. If a third-party telemarketer calls again on behalf of that charity, the telemarketer may be subject to a fine of up to $16,000 .

What about telephone surveys?
If the call is really for the sole purpose of conducting a survey, it is not covered. Only telemarketing calls are covered — that is, calls that solicit sales of goods or services. Callers purporting to take a survey, but also offering to sell goods or services, must comply with the National Do Not Call Registry.

 

[Josh]

How much are your lists if I wanted say....All the people in dallas fort worth 55-65 with 100,000 plus of investable assets

I don't charge anything extra for the filters, but when you start getting into filters like investable assets there is generally no good way to source that so the filters are relatively unreliable. Age, address, phone number, marital status, home value and a few others are generally fairly accurate, but it starts going downhill from there. One way to help target folks with higher income that are more likely to have investable assets is to either search by location (i.e., the area where I live has an average household income of over $110,000/year) or you can search by zip code (someone who has a house worth $300k probably has more money laying around than someone who is renting in a low-income neighborhood).

Price depends heavily on volume, but they're fairly inexpensive. Send me your number if you'd like me to give you a call tomorrow and go over pricing and the different filters with you.

 

[insuranceboss]

This person that owns this company USED to work for us. She did an excellent job until the end. There are issues there that I will not go into on a public forum. DO NOT LET HER THINK THAT SHE WORKS FOR UNITED HEALTH & LIFE. This company is owned by a lady by the name of Jenni Witzell and they have NOTHING to do with us! Steve Wingate

 

[liquidglass]

To my knowledge you won't find a "turnkey model/selling system" for telemarketing FE business as it's not a model that anyone is pursuing long term. The only agents I know of that have done it, did so for a short time to generate a little bit of cash flow until they could get their direct mail off the ground.

With regard to what to do with the people who "are all set" your best bet is to move on. What you're doing with telemarketing FE is no different than what is being done with direct mail in that you can drop that mail to 1000 people and 5-15 are going to respond. Generally speaking the ones who respond just got home from Aunt Gertrude's funeral and she didn't have a lick of insurance so now the person you called is suddenly all ears when you called out of the blue. It's truly about the numbers and not really the technique for these particular calls, the polar opposite of Frank teaching someone who to give good phone for supps. You are just in a very nice and direct way asking them if they'd like to buy some life insurance...period.

Be very careful pushing too hard on these types of prospects as well as your persistency will be in the toilet in no time flat. Take the low hanging fruit and move on. If you then see it as a viable way for you generate business 60-90 days down the road train 2-3 callers to do the legwork for you and just work the leads. If you're committed long term to just doing it yourself you'd be WAY better off having Frank teach you supps and just cross sell FE and annuities. As a phone warrior that is a much better market and you'll have a much better book of business than raw telemarketed FE.

This guy is right on the money, be wise and listen.

I don't know how anyone can spend 8 hour a day cold calling. After just two hours, the life is suck out of me.

That's why you hire people to do it for you, especially those that could either be working in a factory or a store they'll be happy to sit there and dull away the day knowing they're getting paid.

 

[rousemark]

The only time I get rude with anyone is when someone comes on here and just starts recruiting newbies blatantly without adding anything of value. OR if someone blatantly misleads consumers to make sales.
Hoppy is doing both so he gets on my nerves a little. He may be fine and have good intentions but just not know any better or he may just be a jerk. The jury is still out on that.
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Hoppy, if you can show me that you make 15% on the MULTI pay NGL product, I will give you a sincere apology. That is not how commissions on that product are even calculated. My point is the NGL mult-pay plans pay Way less than any other final expense company and most FMOs don't offer it due to that.

If you are talking about 15% on the single pay version then you need to get a better contract. That product pays 28% to agents on the best ages with 2% growth. You are giving up a lot to your upline if that is the case.
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You don't wait until they are on Medicaid to sell the policy. You sell them a $10,000 or $15,000 policy today. If you insist on putting it in a trust, use the Settlers Estate Planning Trust.

If the person ever NEEDS to go on Medicaid they just sign it into a funeral trust when they meet with Medicaid. It's free. It's simple. And it's the right way to do it. AND it's the law in many states. It's better for the consumer and believe it or not, it's actually better for you too.
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Wrong again. You are guaranteeing nothing. Quite the opposite.

By assuming the policy to the funeral trust you MUST have the estate as the beneficiary. The children or next of kin are the ONLY ones who can make funeral decisions at the time of their death REGARDLESS of how the financials are set up.

If your $4,000 policy is assigned tobthe funeral trust and Mom dies, Junior just goes tobthe funeral home and donates her body to the body farm or a medical school and that makes the $4,000 go to her estate...which is Junior IF she never went on Medicaid.

If you sell the policy the right way and make the beneficiary a trusted friend NOT Junior and NOT the estate, Junior has no financial motivation to not use it for her burial because if he screws up, he won't get the money anyway.
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Sorry but it's obvious that YOU don't know what you're doing so I'm certain your clients don't either.

Just quit the recruiting on the forum and I have no problem with what you do. This is a free exchange of information not your spider web.

Newby: I thought only the cash value of a policy owned by the Medicaid beneficiary was counted as an asset. If the face amount is payable to the estate, Medicaid would be able to attach it but if the DB is paid to a named beneficiary, it is generally creditor proof as far as the insured's creditors are concerned. Does this not apply to Medicaid or can they go after the beneficiary? Thanks for your help.

 

[Newby]

Newby: I thought only the cash value of a policy owned by the Medicaid beneficiary was counted as an asset. If the face amount is payable to the estate, Medicaid would be able to attach it but if the DB is paid to a named beneficiary, it is generally creditor proof as far as the insured's creditors are concerned. Does this not apply to Medicaid or can they go after the beneficiary? Thanks for your help.

The cash value is what is counting against them if they are living (the death benefit has no value if you are alive) but upon death the entire face amount is countable by Medicaid.

If you are applying for Medicaid and they learn of any life insurance with cash value, the beneficiary MUST be changed to the estate OR to a funeral home with the amount over the funeral going to the estate.

When you irrevocably assign a life insurance policy to a funeral trust the funeral trust MUST be the 1st beneficiary and the contingent beneficiary MUST be the estate. Medicaid will get everything that runs through the estate UNLESS the person died before Medicaid paid out more than what is in the estate which might happen once in a million times.

A funeral trust has NO look back. It is designed so that people can assign the policy today and be on Medicaid later today. There is NO good reason for people to irrevocable assign a policy to a funeral trust UNLESS it is obvious that they are applying for Medicaid soon. Well...there is one good reason...so that insurance marketers can train agents who don't know any better to sell it as something different that EVERYONE needs. They can make a lot of sales by misleading the public.

The Estate Planning Trust is a trust that the average agent can get more use out of. It has a 5-year look back but it DOES actually protect funds from Medicaid (after the 5-year look back) and the remainder DOES go to the named beneficiary.

 

[rousemark]

Newby: Thanks for the clarification. Louis
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BTW, Illinois just increased the maximum to $10,000 so Hopwood04 will be able to sell even larger policies than in the past and place them in the trust.

 

[Newby]

Newby: Thanks for the clarification. Louis
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BTW, Illinois just increased the maximum to $10,000 so Hopwood04 will be able to sell even larger policies than in the past and place them in the trust.

Hoppy is probably out of the business by now.

I'm not sure his recruiting worked out too good for him.

 

[rousemark]

Hoppy is probably out of the business by now.

I'm not sure his recruiting worked out too good for him.

I assume that is him that was number 11 in production with Settlers in November.

Sure would like to know the details about what the person was writing that wrote 38K+ with Settlers last month. They were on the leader board before November but had not done but 39K for the entire year through Oct.