For Those of You That Write Fraternals
- Thread starter lgreen
- Start date
- 25,063
I truly am not trying to start a fight. I think this is an important thread that ask a question that we as agents should discuss.
Here is what I am reading.
60% is better than 100% assuming that they wanted to cash out. How about if someone died?
Cause - Whatever it was it caused the Certificate holders to get hosed permanently.
The terms "bogeyman stories" and "tale from the dark" implies that it is not true or a real concern. That is a scare tactic, not fact. The fact is it did happen and can happen again if it is allowed in the by laws. Why else would they write it into the by laws? Even if had never happened the fact is that it can.
I do not believe I have ever represented a company that has failed. I have _yet_ to have a policy rescinded, or claim not paid. But I know it is coming. I have written UL that "will never" see the guarantee columns that have or are imploding. Guarantees are very important to me. I have been an insurance agent a long time but do not completely trust any insurance company to always do what is best for the clients or agents over the bottom line. If it is allowed it can be done.
Disclosure: I am quoting a Fraternal today. It is one of the options due to underwriting.
- 19,049
Twist it anyway you want about scare tactics. You analogy is idiotic.
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You are trying to start a fight. That's all you do.
Telling only part of the story is a scare tactic. You can pretend all you want but taking a story out of context is a bogeyman story. You can't be dumb enough to not realize that so it is indeed just stirring the pot.
JD: You didn't answer the question. How long was it before Shenandoah claims were paid after the receivership? Have a feeling it wasn't years down the road.
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It is only idiotic, or taking things out of context, or a bogeyman story because it does not agree with what you want the facts to be.
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It is only idiotic, or taking things out of context, or a bogeyman story because it does not agree with what you want the facts to be.
- 19,049
I didn't answer the question because I don't know. Nor do I care. I don't use the Shenandoah story as a scare tactic. But, if I were going to I would have all the facts. I wouldn't tell stories about someone's uncle that knew somebody that heard that an FE agent was taken to court over a rescinded claim.
- 1,467
Just wanted to ask the agents that write Fraternals like KSKJ Life and Forrester's how do you explain what a Fraternal is? In my limited experience I have never run across an insured that knew that they could be asked to pay more money in addition to their regular premium. I know what the agents will say, oh it hasn't happened in 100 years or ever but you know what that is besides the point. The point is that they can. If it is a relatively new policy these are easy replacements.
In full disclosure I did sign up with KSKJ life a few months ago, have not submitted the 1st app with them. I don't know that I will. I sure wouldn't make them my #1 carrier due to their commission schedule like another poster on this forum has. I would find it interesting to hear how he does that buying leads and all? I know he will read this thread so maybe he will respond.
Ive got about 300 foresters customers, and the fraternal thing hasnt ever really been an issue. I do remember once, some other agent replaced one of my foresters apps by using that premium increase thing. If I remember correctly he also sold foresters, he was just looking for a way to get the biz.
You know how it is, most of the time the customer is buying me, the agent. They arent asking about the company until after we write the app, and Im leaving them them the marketing material and such
- 19,049
JD: You didn't answer the question. How long was it before Shenandoah claims were paid after the receivership? Have a feeling it wasn't years down the road.
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It is only idiotic, or taking things out of context, or a bogeyman story because it does not agree with what you want the facts to be.
Are you pretending stupidity or is it real? Saying that telling someone that AARP term policies raise premiums in 5 year band and expire at age 80 is the whole story. Taking the ending of a story that you know nothing else about is a totally different thing. There's your lesson for the day.
I don't want the facts to be anything other than what they are. You are the one that makes up stories to fit your agenda.
I have no agenda.. I am not the one trying to justify selling a certificate to replace a policy someone has.
you can always tell when someone knows they are losing an argument. they always resort to name calling.
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- 25,063
You are mistaken. I am not. If I was, I would own it. Disagreeing with someone is not starting a fight, to most.
What story was taken out of context?
This is a business product not something personal. Just a product.
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Ditto.
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- 29,527
I've only been on the Forum a little over 2 years and this is probably round 4 or 5 on this subject. Nothing new being said here, but it's entertaining.
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