Final expense and Term

[jdeasy]

I’m curious Jd about something . I understand how you could basically go in any home with Kskj and replace any policy on price . So you get a lead and they bought am am or American memorial 2-4 yrs ago . You have nothing in your bag were your cheaper now . They want no more ins . Are you walking away saying “ miss Johnson you’re in good shape “. You quoted a while back you’ve sold 70 cica . It’s a crazy overpriced product for 80% of people . How are you suddenly running into all these sick people that would need cica ?

I’ve always run into people that I could have put with CICA. But since I didn’t write GI I referred them to mofo or PM.

I don’t have to with CICA.

And a lot of the CICA I wrote early was people that had been declined by others.

And CICA is actually cheaper than KSKJ standard for a smoker.

It does make it a little more difficult not having KSKJ. But I just write FU when it fits.

Whatever people have they had that when they sent in the card. So they are shopping.

If they have had a policy for several years then it’s got cash. We get on the phone and get details. If I can make a recommendation I will.

If I can’t improve the situation I’m gone.

But it goes back to the start. I find their WHY in the first 5 minutes. If no WHY then I’m out of there in 5 minutes. I don’t present to uninterested people.

I miss having KSKJ in the bag but I did over $20K in Jan. And I’m at about $12K this month.

I don’t sit around and wallow in pity. I never worry about the sky falling. If it falls, it falls.

If it ever becomes a problem not having KSKJ then I’ll just get leads in Indiana and use PFA and SoN.

That’s less driving than I do now to go to Indiana. Scott and Travis say they can get leads for me there.

When I was with EFES 70% of my business was in Indiana.

But I pretty much work part time anymore now. If this was 7-8 years ago I would already be working Indiana.

KSKJ is recontracting agents now. If they offered me now I’m not recontracting.

My mindset has always been it’s better to end something and cry once than to stay and cry everyday.

 

[tribetime32]

1. Are any of you independent FE agents writing term for your senior clients? It seems a lot of agents explain the difference between whole life and term as part of their presentation. I understand you are educating the customer but I'm wondering if anyone is selling term or if there are proper situations where term should be used. The only one I can think of is cost and something being better than nothing.

2. What's the key to replacing Globe life and AARP? I remember someone in this forum calling someone else a replacement artist. I thought that was a compliment lol.

1. In very rare cases, it can be done, 99% of the time the term a Final expense client can qualify for is from the companies you mentioned in question 2. Every now and then you will run into a healthy client that has 10 years left on their mortgage and just wants something to cover that. Not a scenario to spend much time worrying about.

2. The biggest piece to this is calling the company while you're there to get details of their policy. There is certainly an art to it on how to posture, but the most important part of this is to have the carrier hang themselves by delivering the bad news. This is much more powerful than you just telling them and hoping the client trusts you enough to do something about it.

I would encourage you to watch this video as it details replacements.

Replacement Training

 

[me112233]

1-no

So what you are promoting is that a person should give up at least 20% of the writing-agent commission and give it to a MLM upline that provides no meaningful support or assistance? Do I understand that correctly?

 

[jdeasy]

So what you are promoting is that a person should give up at least 20% of the writing-agent commission and give it to a MLM upline that provides no meaningful support or assistance? Do I understand that correctly?

I don't think he meant that. But you should not give up commissions to anyone. Nor would you have to in order to work with an IMO and get support.

 

[Todd King]

Few tips here too

I don't think I've ever heard of Critical Illness Life before. I mean, I've heard of a Critical Illness Insurance and I've heard of a Critical Illness rider, but not Critical Illness Life. Tell me more!!

 

[Newby]

I don't think I've ever heard of Critical Illness Life before. I mean, I've heard of a Critical Illness Insurance and I've heard of a Critical Illness rider, but not Critical Illness Life. Tell me more!!

Colorado Bankers had critical illness policies that were based on life insurance instead of health insurance.

 

[Todd King]

Colorado Bankers had critical illness policies that were based on life insurance instead of health insurance.

How is that even possible? If you die, you die. There is no "Critical Illness". Now, if it was a life policy and it paid a certain amount if you become critically ill...that's a rider.

Besides that, don't you remember from getting your basic L&H license that Life and Health can't be in the same policy without it being a rider?

 

[Newby]

How is that even possible? If you die, you die. There is no "Critical Illness". Now, if it was a life policy and it paid a certain amount if you become critically ill...that's a rider.

I don’t remember the specifics of that one. But I remember it was very unusual and I don’t think you even needed a health license to sell it.
I had a large critical illness policy on myself through Assurity that was a rider on their term policy. But that colorado Bankers policy was different. It wasn’t a rider it was a policy feature from what I remember.

 

[Todd King]

I don’t remember the specifics of that one. But I remember it was very unusual and I don’t think you even needed a health license to sell it.
I had a large critical illness policy on myself through Assurity that was a rider on their term policy. But that colorado Bankers policy was different. It wasn’t a rider it was a policy feature from what I remember.

Nah, something wrong there. Once again, you can't couple the two things together without it being a rider. That's not legal. Not having to have a health license might just be the tell-tell on that.

 

[jdeasy]

Nah, something wrong there. Once again, you can't couple the two things together without it being a rider. That's not legal. Not having to have a health license might just be the tell-tell on that.

AIG did something like that on tgr GI.

I don’t write it so I don’t know what it was. But the pimps were bragging about it.