400# - 5'2" - 19 Year Old - Wants Life Insurance - Single Pay Maybe . . .

myinsurebiz · 11-17-2008, 08:54 PM

He doesn't want monthly payments. He doesn't want an investment or an annuity. He wants to put up the cash, name his beneficiaries, protect them from taxes and forget about it . . .

What carrier will write this kid?

His only issue is his weight. Healthy as a horse. Well - maybe two horses . . .

He's a rapper in Atlanta and has $100k cash to put up.

Wants to provide for his 18 year old wife and 3 kids when he kicks the bucket.

What would be his best course of action to provide liquid cash quickly upon his death?

Man - these NetQuote leads produce some weird cases. I've checked this guy out - he is legit, but doesn't trust anybody he knows.

Guess these "unusual" cases appreciate a no pressure insurance guy like me - they open up and seem to really trust a country boy like me . . .

Any suggestions?

Thanks,

Tom

djs · 11-17-2008, 09:06 PM

Only one suggestion....
Dump the netquote leads.

I'll take his 100K and get him a 100K in insurance. At 400lbs, he isn't healthy, regardless of what he says. He is diabetes / heart attack / any number of other problems, they just haven't been diagnosed yet. He'll get there.

If he is self-employed, you might look into group, but I don't know how that works in Atlanta.

This is one not to waste time on.

Dan

bluemarlin08 · 11-17-2008, 09:07 PM

Tom, in all honesty you need to connect with a mature agent or get a good brokerage company.

myinsurebiz · 11-17-2008, 09:14 PM

Originally Posted by djs

#1 - Only one suggestion.... Dump the netquote leads.

They actually produce large commission sales. I've made more in the last two weeks on Term through NQ than ever . . .

Simply Amazing.

Originally Posted by bluemarlin08

Tom, in all honesty you need to connect with a mature agent or get a good brokerage company.

Actually Blue - I learn very fast. Through this forum I've not only gained the info needed to close sales - but, have done so in minutes - versus - months of dealing with "mature" agents.

No offense - but it isn't rocket science with someone providing the right direction.

If you don't wish to assist - by all means don't.

I appreciate this Forum and many of it's members and their contributions.

I just want to do what's right by the client. When I'm in doubt - I seek advice . . .

It's not hard to take an app and press submit once you know what the deal involves and what the client needs.

So - instead of snide remarks Blue - what would you do in this particular case?

Tom

djs · 11-17-2008, 09:30 PM

Tom - Blue's comment is actually dead on. When you want to write off the wall cases, a good brokerage company will find a home for it, if it can be done.

In my P&C world, I write a lot of standard stuff, some non-standard stuff, and then broker out the strange stuff. I get paid, the bills have my name on them, etc, but it gives me a 'staff' of people to deal with this so I don't waste my time on something I know little about.

Dan

myinsurebiz · 11-17-2008, 09:33 PM

OK - I'll bite.

How can a Broker help me?

How do I get paid?

Who "owns" the customer?

I never have said I know all - so, a "broker" or "brokerage" can assist me and the client how?

Tom

djs · 11-17-2008, 09:38 PM

You own the client.
The broker pays you.
The brokerage deals with this type of client question 10 times a day.

Find an MGA in your area, call them, see what they will do for you. Make sure you ask them these very questions, because they are not universal answers.

Dan

myinsurebiz · 11-17-2008, 09:50 PM

With a broker - must I be appointed with the various carriers?

Tom

Dave020 · 11-17-2008, 09:53 PM

Check you PM, Tom. My recommend will appoint and will release on request.

TXINSURANCE · 11-17-2008, 10:01 PM

I agree a specialty broker is the way to go. There are no shortage of them out there, check any agent magazine like Life Insurance Selling - it is online and in print.

One question for Tom - Does NetQuote consider this a valid lead? While I wish you luck placing your case to me this lead is not worth paying for.

myinsurebiz · 11-17-2008, 10:19 PM

Originally Posted by TXINSURANCE

One question for Tom - Does NetQuote consider this a valid lead? While I wish you luck placing your case to me this lead is not worth paying for.

Yes - I buy impaired leads for only $3.

Have been with them since the first of the month.

45 Leads.

Over $15k in Annual Premium.

Excellent ROI.

I focus mainly on FE - but these leads are mostly seeking Term. I oblige . . .

Tom

bluemarlin08 · 11-17-2008, 11:15 PM

Hey Tom, I was giving you straight up info, trust me, I will totally ignore your posts in the future. Your people skills need some tuneups.

TXINSURANCE · 11-17-2008, 11:59 PM

Yes - I buy impaired leads for only $3.

Have been with them since the first of the month.

45 Leads.

Over $15k in Annual Premium.

You rock.

That's a great ROI. Glad to hear that.

Bob_The_Insurance_Guy · 11-18-2008, 10:05 AM

If you're in Atlanta, contact one of these brokerage houses:

Diversified Insurance - Tonia Pettit

Or

Palmer Agency - Jimmy Harrington

I'm in Atlanta, and I've got a good idea who this rapper is. They are a litigious bunch, proceed with caution, and don't go it alone.

There was another rapper, here in Atlanta, who closed down his restaurant, managed by his mother, and left a dozen workers out in the cold. They are trying to take him to court, and he is delaying, costing both sides money (he's got it to waste - his workers don't)

moonlightandmargaritas · 11-18-2008, 10:40 AM

Yes - I buy impaired leads for only $3.

I focus mainly on FE - but these leads are mostly seeking Term. I oblige . . .

Here's a tip that may help you. Most of us veterans learned this a long time ago as we were paying our dues...

If they want to buy life insurance, there's usually a reason (and rarely a good one) why.

somarco · 11-18-2008, 12:02 PM

I'm in Atlanta, and I've got a good idea who this rapper is.

Sorry, but you don't seem like the homeboy type.

Must have misjudged you.

moonlightandmargaritas · 11-18-2008, 12:23 PM

Originally Posted by somarco

Sorry, but you don't seem like the homeboy type.

YouTube - The Hard Boys ~ EZ Pimpin - Atlanta Rap

somarco · 11-18-2008, 02:19 PM

Gee, Paul. This is a FAMILY site.

moonlightandmargaritas · 11-18-2008, 02:34 PM

Originally Posted by somarco

Gee, Paul. This is a FAMILY site.

It's a little bit of a protest.

While there has been language on the Forum that even I wouldn't use, my "Would You Bang Michelle Obama?" thread was deemed inappropriate, and the title edited...

Whatever happened to the First Amendment?

dgoldenz · 12-12-2008, 12:13 AM

I would be very surprised if there was nothing else going on with this client than the 400 pounds - how many rappers do you know that have never taken any drugs?