Critical Illness Sales Interview/Script

[GAHEALTH]

Re: Critical Illness Sales Interview/ Script

Mark,

I love your posts and you can be very informative for new agents...but why do you always push CI as an income tool instead of just using a DI policy...what happens if the client is in an accident and CI doesn't kick in they will still need the income....I know a large dollar amount of CI can look good but if your trying to replace income DI would be the way to go.

I think you guys are missing the point. Most people have a DI pplan of some sort (workers comp etc) via work. Some DI policies are pretty strict too. The CI play is a more attractive play since more people are surviving strokes/heart attacks/cancer. I know 6 people personally that are assoicated with me that have had cancer recently.

The CI covers the hols left my a Major med policy for things like mortgage/car/groceries/modifying the house for wheelchair access etc.

Let's face it - if we could have it our way everyone would own a LTC, DI, CI, Life, and Major Med with an accident rider - but most people are not going to spend $1500+ a month in middle class families to get that coverage. It just is not an option for many.

 

[GreenSky]

Re: Critical Illness Sales Interview/ Script

Let's face it - if we could have it our way everyone would own a LTC, DI, CI, Life, and Major Med with an accident rider - but most people are not going to spend $1500+ a month in middle class families to get that coverage. It just is not an option for many.

Isn't all this covered under ObamaCare? Without premium nor underwriting?

I wish you guys would pay attention!

Rick

 

[GAHEALTH]

Re: Critical Illness Sales Interview/ Script

Isn't all this covered under ObamaCare? Without premium nor underwriting?

I wish you guys would pay attention!

Rick

You are correct - come 2016 - coverage for a $1/month - including a $1000 US Savings bond!

 

[Norwayguy]

Re: Critical Illness Sales Interview/ Script

You are correct - come 2016 - coverage for a $1/month - including a $1000 US Savings bond!

And today $1 will be about all that $1K savings bond will be worth

GAHealth, not everyone is covered by some sort of DI coverage, the self employed are not covered by workmans comp and even if covered by workmans comp that coverage is only good for one the job, If I fall off my roof (had a cousin do that) or get a serious electric burn while working on my homes wiring (had an *** friend of a friend do that one) workmans comp will not cover this and neither would the CI.

Now I understand your point about CI being a more favorable sales story and I have no problem with the sale of CI, I do however get a feeling in the pit of my stomach when someone essentially uses the reasons to have DI coverage and sells CI in its place.

 

[Crabcake Johnny]

Re: Critical Illness Sales Interview/ Script

Just read those CI policies - not the brochures. For example, many state that only life-threatening cancer is covered and even lists exclusions. Just because your client is diagnosed with cancer does not necessarily mean the policy will pay.

Watch that E&O exposure if you're telling clients that "cancer" is covered.

 

[GAHEALTH]

Re: Critical Illness Sales Interview/ Script

Just read those CI policies - not the brochures. For example, many state that only life-threatening cancer is covered and even lists exclusions. Just because your client is diagnosed with cancer does not necessarily mean the policy will pay.

Watch that E&O exposure if you're telling clients that "cancer" is covered.

So which one should be avoided?
- - - - - - - - - - - - - - - - - -

And today $1 will be about all that $1K savings bond will be worth

GAHealth, not everyone is covered by some sort of DI coverage, the self employed are not covered by workmans comp and even if covered by workmans comp that coverage is only good for one the job, If I fall off my roof (had a cousin do that) or get a serious electric burn while working on my homes wiring (had an *** friend of a friend do that one) workmans comp will not cover this and neither would the CI.

Now I understand your point about CI being a more favorable sales story and I have no problem with the sale of CI, I do however get a feeling in the pit of my stomach when someone essentially uses the reasons to have DI coverage and sells CI in its place.

Point taken. I do not push it as a DI - but as a sickness coverage. I am well aware that a CI policy will not cover an accident/DI issue.

 

[Crabcake Johnny]

Re: Critical Illness Sales Interview/ Script

I don't sell CI - reviewed three policies years back - all had language that basically said - in between the lines - "don't look for a check." One was AIG.

My advice is get the policy of the plan you're selling - NOT the brochure. If you can't get a specimen policy then sign yourself up for the plan and check your mailbox.

 

[crimsontideagent]

Re: Critical Illness Sales Interview/ Script

Never sold CI, but interesting thread...
- - - - - - - - - - - - - - - - - -
who are some of the top CI carriers?

 

[bobson]

This is an interesting topic.

I wonder what percentage of DI claims are due to accidents or injuries and what percent are due to illnesses covered by a CI policy?

CI though is something you can self insure for. If we all just saved an extra hundred bucks a month in just a couple of years you'd have a good stockpile of cash. I believe al3 saves 12 cents of every dollar he makes. CI is a waste of money for him. I wonder what percentage of the population does that?

Long-term disability though is something we can't self insure for, the very rich excluded.

But we do have Social Security disability coverage. While it isn't great, I know people who live on it.

I'd like to take two agents one that sells DI and one that sells CI and follow 100 of their average clients that have similar backgrounds. Which agent would have sold a product that benefited the most people?

Interesting questions, I think.

 

[Fisher]

CI though is something you can self insure for. If we all just saved an extra hundred bucks a month in just a couple of years you'd have a good stockpile of cash.

Doing the math I'm left with this question: $2400 (+ interest) is a stockpile?