There’s a flaw in selling kids whole life policy’s. What happens when Grandpa dies?

[Life Hawk]

.The truth is the policy will be gone on the death of the owner .

Your right on this. Case in point; 2018 grandpa gets his grandson covered (story in itself). Grandpa passes, and 1 month and 2 week later, grandson shot dead. Guess what? The policy paid as stated minus 1 months premium... that's right, the month of missed premium after the grandfather passed. That policy was was in the wind, and it would have lapsed save the early death.

Ours is not to reason, ours is to cover.

 

[rousemark]

Rouse I think you meant the Grandparents can sign without the parents signing .But you do need the ss # of the Grand kid with UA vs foresters and moo you don’t . That could be cumbersome fir some people . No question these are easy sales . I’ll be honest when I’m selling Medicare and fe out of the same house I forget on the grand kids policy . Another nice thing is UA pays renewals . If your really hustling I think you could sell $10-$15 k premium a yr of these .

Wrote two kids today. A 74 year old grandmother raising her grandkids. Couldn't do much for her but she bought $25K on each of the kids.. $15.84 monthly premium. $199.58 annual commissions.. Certainly worth the 15 minutes it took to take the app. Also wrote a $58 per month SNL ROP today. Have to say that I am loving the lead jerks telemarketing leads.

 

[DonP]

Keep us posted if these stick. I’ve just found TM leads much much lower income and much lower quality . I think Most on here share that or we’d all be working $9 leads. It might be your age helping you !!! Lol

 

[rousemark]

Keep us posted if these stick. I’ve just found TM leads much much lower income and much lower quality . I think Most on here share that or we’d all be working $9 leads. It might be your age helping you !!! Lol

The majority of these have been middle class homeowners.. The SNL today was living in a senior citizen housing complex.. Almost all have been aware it is life insurance.. Have had three that claimed they did not talk to anyone on the phone and a couple that said they already had their burial taken care of. One of those two resulted in a home health care sale. Haven't had any in dilapidated, run down housing with bug problems..

 

[DonP]

Rouse just curious how you got in a senior citizen housing complex door knocking ? Was it the kind like apartments with a security door buzzer to get in ?

 

[rousemark]

Rouse just curious how you got in a senior citizen housing complex door knocking ? Was it the kind like apartments with a security door buzzer to get in ?

Not around here... the buildings are brick duplex apartments. Some are quads.. Low income housing operated by the city housing authority. All very neat.. nicely landscaped... reserved for seniors.. None of the problems associated with low income housing.

 

[rousemark]

Today resulted in writing another UA kids policy. Was a DM lead but the husband was still working and insisted he had everything taken care of through his union. Was about ready to leave but did a Columbo close on the little 2 year old grandchild he and his wife are raising.. $90 commission is better than no commission..
In fact, went three for three today but they were all small .. a $25K on a 36 year old and a $3K on a 62 year old.

 

[Rob300L]

Seems like back in the day (been a while since I wrote a policy owned by parent on child), there was a simply check-box on the application that transferred ownership to the insured upon death of owner. Yes, that was a long time ago. Commonwealth Life Insurance Company (my first insurance job), which was absorbed by Monumental, and no telling how many times bought and sold. Also, it seems that most juvenile policies (as in policies designed and intended to be sold on lives of children) had an automatic transfer-on-death or transfer-at-age-18 clause in them.

 

[Rob300L]

Not around here... the buildings are brick duplex apartments. Some are quads.. Low income housing operated by the city housing authority. All very neat.. nicely landscaped... reserved for seniors.. None of the problems associated with low income housing.

Those government housing projects (even the ones targeted for seniors) typically have a strict no solicitation policy. I have seen people who were NOT selling things run off of these properties, even local candidates doing some old-fashioned door knocking when running for local office were forced to leave (and all they were doing was handing out campaign flyers and asking for votes. And the courts have sided with the housing projects.

 

[rousemark]

Those government housing projects (even the ones targeted for seniors) typically have a strict no solicitation policy. I have seen people who were NOT selling things run off of these properties, even local candidates doing some old-fashioned door knocking when running for local office were forced to leave (and all they were doing was handing out campaign flyers and asking for votes. And the courts have sided with the housing projects.

Don't have that problem around here but in this case, I wasn't soliciting" in the general sense. I was there by invitation (responding to information request)