Senior benefit life insurance will pay for both of the spouse in one policy.

[ValeRosso]

Thats nothing. I visited a lady who said her life insurance covered herself, her husband, and her son, $30k in coverage all for $90 a month. She described it as "full family coverage" or something like that. I asked to see the policy, she had no idea where it was.

 

[jdeasy]

Thats nothing. I visited a lady who said her life insurance covered herself, her husband, and her son, $30k in coverage all for $90 a month. She described it as "full family coverage" or something like that. I asked to see the policy, she had no idea where it was.

Excellent opening. “Let’s call the company and get you a duplicate”!!

Of course while on the phone get the details.

 

[ValeRosso]

Excellent opening. “Let’s call the company and get you a duplicate”!!

Of course while on the phone get the details.

yeah really...live and learn

 

[jdeasy]

yeah really...live and learn

I was responding on my phone earlier. Just be cool. Don't tell them they are wrong. Show them they are wrong. If it's a company you write just say something like, I didn't know they did that, I need to get that. If it's a company you don't write, that sounds like something I need to be offering. "Either way, you need to have your policy. We'll call them and get a duplicate so you can put it away".

I'm already dialing the company while I'm saying that. Unoffensive and fact finding on the call. She can't find her policy and needs a duplicate. OK, and when was this policy issued? Who is her agent? Is he still active with you? And what is the face amount of this policy? And the insured is? Is she also the owner?

If it's a few years old, what's the cash value of this policy? Any loans? How about the RPU?

Oh, one more thing, who is the listed beneficiary?

You get a lot of surprises on the phone asking those questions. But don't react. You are fact finding. If the prospect reacts just say, well, she is surprised at that. She thinks that's wrong. But you are sending a duplicate, we will verify it then.

You have positioned yourself as the expert now. Do not react at all to the rudeness of the CSR. Be sure you have it on speaker and let the prospect hear the rudeness. If there is none it's no big deal. But they usually get very rude. Especially the over priced companies, SL, LH, OA, Bankers, CFG and even one cheaper company, LifeShield.

Just don't fire back. It's hard sometimes to not when they are truly rude and stupid. I might ask the truly stupid sometimes, "are you a licensed agent?"

No matter what you have to be the one in control and the most calm person in the room.

And when you are on hold, as with most companies, plant seeds. "Wouldn't this be awful if your family was calling to make a claim?"

Be different. Separate yourself from the other agents they have dealt with.

 

[ValeRosso]

I was responding on my phone earlier. Just be cool.

Great tips, thank you for that write up! The “duplicate/replacement policy” is a perfect way to ease your way in to fact finding on the phone with the carrier and probably is the most non-threatening way to do it. And that last bit about planting seeds. Gold nuggets!

Also, I understand everything else, but what is RPU?

 

[goillini52]

Great tips, thank you for that write up! The “duplicate/replacement policy” is a perfect way to ease your way in to fact finding on the phone with the carrier and probably is the most non-threatening way to do it. And that last bit about planting seeds. Gold nuggets!

Also, I understand everything else, but what is RPU?

Reduced Paid Up. One of the nonforfeiture options.

 

[titeye]

I was responding on my phone earlier. Just be cool. Don't tell them they are wrong. Show them they are wrong. If it's a company you write just say something like, I didn't know they did that, I need to get that. If it's a company you don't write, that sounds like something I need to be offering. "Either way, you need to have your policy. We'll call them and get a duplicate so you can put it away".

I'm already dialing the company while I'm saying that. Unoffensive and fact finding on the call. She can't find her policy and needs a duplicate. OK, and when was this policy issued? Who is her agent? Is he still active with you? And what is the face amount of this policy? And the insured is? Is she also the owner?

If it's a few years old, what's the cash value of this policy? Any loans? How about the RPU?

Oh, one more thing, who is the listed beneficiary?

You get a lot of surprises on the phone asking those questions. But don't react. You are fact finding. If the prospect reacts just say, well, she is surprised at that. She thinks that's wrong. But you are sending a duplicate, we will verify it then.

You have positioned yourself as the expert now. Do not react at all to the rudeness of the CSR. Be sure you have it on speaker and let the prospect hear the rudeness. If there is none it's no big deal. But they usually get very rude. Especially the over priced companies, SL, LH, OA, Bankers, CFG and even one cheaper company, LifeShield.

Just don't fire back. It's hard sometimes to not when they are truly rude and stupid. I might ask the truly stupid sometimes, "are you a licensed agent?"

No matter what you have to be the one in control and the most calm person in the room.

And when you are on hold, as with most companies, plant seeds. "Wouldn't this be awful if your family was calling to make a claim?"

Be different. Separate yourself from the other agents they have dealt with.

Damn, that's training at it finest!

 

[DonP]

I was responding on my phone earlier. Just be cool. Don't tell them they are wrong. Show them they are wrong. If it's a company you write just say something like, I didn't know they did that, I need to get that. If it's a company you don't write, that sounds like something I need to be offering. "Either way, you need to have your policy. We'll call them and get a duplicate so you can put it away".

I'm already dialing the company while I'm saying that. Unoffensive and fact finding on the call. She can't find her policy and needs a duplicate. OK, and when was this policy issued? Who is her agent? Is he still active with you? And what is the face amount of this policy? And the insured is? Is she also the owner?

If it's a few years old, what's the cash value of this policy? Any loans? How about the RPU?

Oh, one more thing, who is the listed beneficiary?

You get a lot of surprises on the phone asking those questions. But don't react. You are fact finding. If the prospect reacts just say, well, she is surprised at that. She thinks that's wrong. But you are sending a duplicate, we will verify it then.

You have positioned yourself as the expert now. Do not react at all to the rudeness of the CSR. Be sure you have it on speaker and let the prospect hear the rudeness. If there is none it's no big deal. But they usually get very rude. Especially the over priced companies, SL, LH, OA, Bankers, CFG and even one cheaper company, LifeShield.

Just don't fire back. It's hard sometimes to not when they are truly rude and stupid. I might ask the truly stupid sometimes, "are you a licensed agent?"

No matter what you have to be the one in control and the most calm person in the room.

And when you are on hold, as with most companies, plant seeds. "Wouldn't this be awful if your family was calling to make a claim?"

Be different. Separate yourself from the other agents they have dealt with.

So you replace the policy right then . When they get that duplicate policy and then your policy no doubt they’re confused . On the other shoe some of these people that don’t know were their policy is don’t have any bank statements only a debit bank card they use . How are you tracking the name of company down ? I know a ton of agents will replace any policy with cash value and either do a paid up policy or “ Mrs Johnson you get $1000 back and your premiums about the same on the new policy . Outside states like Kentucky that can’t contest replacement policys you better grill them hard on health questions . I just had a tiny $5 k policy on a 78 yr old in the 23 rd month claim denied . The dude only had high blood pressure and they framed some bs off the drs notes . They know no lawyers suing for $1500 30% fee . Honestly unless it’s a big difference I don’t like replacing a ton . I’ll add on using the inflation angle .

 

[jdeasy]

So you replace the policy right then . When they get that duplicate policy and then your policy no doubt they’re confused . On the other shoe some of these people that don’t know were their policy is don’t have any bank statements only a debit bank card they use . How are you tracking the name of company down ? I know a ton of agents will replace any policy with cash value and either do a paid up policy or “ Mrs Johnson you get $1000 back and your premiums about the same on the new policy . Outside states like Kentucky that can’t contest replacement policys you better grill them hard on health questions . I just had a tiny $5 k policy on a 78 yr old in the 23 rd month claim denied . The dude only had high blood pressure and they framed some bs off the drs notes . They know no lawyers suing for $1500 30% fee . Honestly unless it’s a big difference I don’t like replacing a ton . I’ll add on using the inflation angle .

Once we have the details I will make my recommendation. If my recommendation is to replace then that’s my recommendation.

I’ve never had a case where they were confused after getting that duplicate. In fact, it reinforces what we already discussed.

I don’t worry about contestability. They either qualify or they don’t. I write in several states besides Ky. My approach is no different no matter the state.

I do ask qualifying questions before we get on the phone to their current company. I’m not spending a half hour on the phone if I can’t write them.

I don’t have s problem finding out who they are paying. Interested people will find out who they are paying so we can call.

Uninterested people probably won’t. But that goes back to the start. I don’t present to uninterested people.

I’ve written over 6000 life applications. I kinda know the process works.

 

[DonP]

Once we have the details I will make my recommendation. If my recommendation is to replace then that’s my recommendation.

I’ve never had a case where they were confused after getting that duplicate. In fact, it reinforces what we already discussed.

I don’t worry about contestability. They either qualify or they don’t. I write in several states besides Ky. My approach is no different no matter the state.

I do ask qualifying questions before we get on the phone to their current company. I’m not spending a half hour on the phone if I can’t write them.

I don’t have s problem finding out who they are paying. Interested people will find out who they are paying so we can call.

Uninterested people probably won’t. But that goes back to the start. I don’t present to uninterested people.

I’ve written over 6000 life applications. I kinda know the process works.

That’s fair . I’m to the pt of 10-15 referrals a month . I don’t pressure anyone for the sale . Jd I’d be shocked if you use a crm ?