Am I Doing the Right Thing ?

[WinoBlues]

I was asking about it in the more general sense.
What would you do if you were a healthy 60 year old man? Would you do a whole life policy or would you look at something else? That is all. I just don't want to be selling things that people don't need.

To many Ifs. If they are looking for CV growth, If they want a short pay, If they want more guarantees, If they are looking for max DB for the premium dollar, If they are comfortable with some risk, If......

If you are going to be an FE only guy you need to go all in. If you are looking to do more in the way of qualifying clients for a broader array of insurance products you need to move over to the Traditional Life side and or find an upline that has that skill set.

Just my uneducated 2 cents.

 

[Rearden]

I was asking about it in the more general sense.
What would you do if you were a healthy 60 year old man? Would you do a whole life policy or would you look at something else? That is all. I just don't want to be selling things that people don't need.

Don't over-complicate.

Ask the lead what HE wants his life insurance to accomplish.

Does he want his obligations paid for if he passes earlier than expected? Is it income replacement he's most concerned with? Or does he simply want enough to remove the burden of his final expenses from his loved ones?

A proper pre-qualifying and fact-finding approach will answer your basic question of, "What would you do in this situation?"

More specifically, assuming this is a "typical" final expense prospect from a final expense type of lead that is very healthy, I would offer him either a competitive final expense product like Standard Life, perhaps even a ten-pay product from Settlers if he does not like the concept of life-time payments.

 

[WinoBlues]

I was asking about it in the more general sense.
What would you do if you were a healthy 60 year old man? Would you do a whole life policy or would you look at something else? That is all. I just don't want to be selling things that people don't need.

I just added a GUL for a 64 year old client that I wrote another GUL 2 years ago. I wrote the husband a SIWL back then and another one this time. We are looking at maybe doing a third one on him after we deliver the latest one.

Why do you have to only do one or the other? My licence allows more than just this or that type of insurance. I understand specialising. I am writing two Life agents now. I wrote the families of two P&C agents earlier this year.

 

[KRobby]

I'm doing final expense for the time being but is a whole life policy what you would do? Would you invest your own "premium payments" in other investments? Is this sincere? What's the move here? I'm looking into variability and term now.

From what I've found ( my couple months into this industry), it takes a smooth talker to convince an ignorant to sell them something they're not sure they want.

I was asking about it in the more general sense.
What would you do if you were a healthy 60 year old man? Would you do a whole life policy or would you look at something else? That is all. I just don't want to be selling things that people don't need.

Put yourself in their shoes. There's a reason we filter the dm cards with income and not just age. What kind of policy would you want if you're on fixed income making 1000/mo and wanted funeral stuff paid?

 

[jdeasy]

Again,

I'm new to the FE industry.

I'm being trained now. Am I doing the right thing for these people. What would you do if you were in their situation? My trainer and I replaced a universal life policy this past week and I'm not sure if it was the right thing to do. I need some honest answers here. What do I do? I'm not looking to make money off gullible seniors. I want an honest living doing the right thing.

I'm doing final expense for the time being but is a whole life policy what you would do? Would you invest your own "premium payments" in other investments? Is this sincere? What's the move here? I'm looking into variability and term now.

From what I've found ( my couple months into this industry), it takes a smooth talker to convince an ignorant to sell them something they're not sure they want.

Whats the right move for them?

How can I know I'm doing the right thing for them?

Any advice would be appreciated

I come from a sales background where I'm confident I'm benefiting the client.

I feel sorry for clients. And I can't live like that (or make a living off such.).

Please, somebody, explain why a whole life policy is applicable or under what circumstances it's appropriate.

What would you do if you were these people ?

If it takes a greasy lie to change them, tell me. But if it's an honest sale, I'm more than willing to learn.

Leaving it alone might have been the right thing just as replacing it might have been the right thing. No one can tell you which was right based on the limited info given here.

The ones that do so anyway are just wanting to impress themselves.

You have to know their why first. Why did they send in the card? Why did they have you in their home? What was their want/need? Was the current policy meeting that want/need? If not, then what product would meet them?

Of course to have the answers for that you must know the products. Since you don't you were doing a training ride along with someone that was supposed to know. Do they know? From what you posted here it would seem that you do not believe in the trainer. Maybe you do? That just doesn't come across in what you have posted.

As for the bigger question of this being right for you? Again it appears that it is not from your posts. That's not a slam, many agents cannot thrive in the FE arena. Those can do it usually do very well. Those that can't struggle through for a while and then they are gone.

A big part of the problem for you seems to be in the IMO you have chosen. Since you didn't say which one it is it's impossible to know if it's one that knows the business or if it's one of the many pretenders. What is clear is that you do not have faith in that trainer. Unless that changes it just will not work for you.

As for not wanting to "talk someone into" buying something, I'm right there with you on that. Of course I've been shown all those ways by desk jockeys on how to do just that. But, do you know why they are desk jockeys instead of actually selling? I think you do.

What I do in those situations is what I was taught by a guy that actually sells, when I make my recommendation I simply ask, "does that make sense to you?". If the answer is yes then we proceed. If the answer is "no" or "maybe" then I've got more 'splanin to do.

 

[TxJohnny]

I was asking about it in the more general sense.
What would you do if you were a healthy 60 year old man? Would you do a whole life policy or would you look at something else? That is all. I just don't want to be selling things that people don't need.

What does he have, what does he owe, what does he make, what does he care about — once you know this the answer becomes clear.

The last part of your post is disconcerting — properly placed life insurance is a truly blessed thing. It is one person giving to another, with the agent as facilitator. That you do not see that will sink you quicker than any poor training.