Disregard

[WinoBlues]

This will likewise not be well received, but . . . upgrade your market. Stop preying on the poor.

But 'you are not a full time Final Expense agent'.

Me nether.

But upgrading my book was a positive for me. Fired some, let some lapse and just did not rewrite some. Very rarely do I pick up cash or do other than bank draft. I still write SIWL for final expense. I just do not market to the poorest of the poor.

 

[walthamny]

Do you have a link to prove this story ? I find it hard to believe . Over the years I’ve helped 2-3 clients as have others on here . You simply get a money order and fill it out with their name and policy # on it . The envelope has their name and address on it . The company assumes the insured sent it . I know the agent wasn’t stupid enough to put his name as the payor ?

Agent was stupid enough to pay out of his personal account. ^&^* Insurance company cashed the check but then when a death claim was put through, they decided to investigate as the last payment was a little late/different type and they discovered it was the agent making the payment. Policy would have lapsed if the agent had not made the payment. This is the issue with minimal funding of UL, you miss something at the end you can really loose everything. They should have had at least 6 months of premium in cash value. There is no press release on it, because likely the agents E&O paid some of it or it got settled in exchange for silence. There was no bad intent here. If I had a client for 40 years and they asked me to make a payment on their way to the hospice, it is hard to say no. I dont think the money order would actually work. You are getting filmed getting a money order nowadays. You will also leave fingerprints on the envelope so it can be traced back to the agent. So it is best to stay out of making any payment to the insurance company however well intended.

 

[somarco]

But 'you are not a full time Final Expense agent'.

True, but as an independent agent (regardless of the line), you are free to choose your own market. I have worked with "rich" and "poor" but settled on the middle class.

Rich have money but can be overly demanding.

Poor can be a PITA with lapses, reinstatement, etc.

I rarely hear "I can't afford this". If they do offer that excuse my response is "If you can't afford the premium you can't afford to get sick either". That seems to jolt them into reality.

I know agents that work the FE business, all online and phone sales. No home visits. Somehow they find prospects (or prospects find them) that have enough $$$ to afford a phone and/or computer and internet. It's not all about grinding it out in the field.

 

[bill3173]

Rich have money but can be overly demanding.

Truer words were never spoken. If they are really well off, they never leave you alone.

Had one recently that wanted to know if I did commercial and home owners insurance because he wanted to hand everything off to me. I've never been happier to inform someone that I'm LAH DI and Annuities only.