Ethlical FE Life Insurance Replacements

[Baseball7]

Let's talk replacements and your experience with the issue. It's easy when you can out price, provide immediate coverage or replace term. But what are youe thoughts when you find folks knee deep in loans, and other grey areas.

 

[HoosierLife]

Let's talk replacements and your experience with the issue. It's easy when you can out price, provide immediate coverage or replace term. But what are youe thoughts when you find folks knee deep in loans, and other grey areas.

Knee deep in what kind of loan? A policy loan? That's a great selling point. "Not only can I get you more coverage for the same price, but you don't have to pay that loan back!"

What other gray areas?

 

[Baseball7]

What standard FE client can or will be able to pay back thousand dollars of loans? What percent of WL FE loans are actually paid back?

 

[pcbinsurance]

Sigh.....WHO IS YOUR UPLINE????????????????

 

[rousemark]

What standard FE client can or will be able to pay back thousand dollars of loans? What percent of WL FE loans are actually paid back?

Well, based on my experience in the old days of the debit, it was a real rarity to have a loan paid back. The industrial insurance buyer of that day is the FE insurance buyer of today so I would say that hasn't changed.

 

[jdeasy]

Let's talk replacements and your experience with the issue. It's easy when you can out price, provide immediate coverage or replace term. But what are youe thoughts when you find folks knee deep in loans, and other grey areas.

What gray areas are you talking about? A loan on a policy is perfect chance to replace.

I say any replacement is ethical when you put the insured in a better position.

 

[donamese]

What gray areas are you talking about? A loan on a policy is perfect chance to replace.

I say any replacement is ethical when you put the insured in a better position.

In KY yes, but in other states where there is a new contestability period, it is not always a better position.

 

[WinoBlues]

In KY yes, but in other states where there is a new contestability period, it is not always a better position.

You just need to learn to justify.


Put down the pitch forks! I am joking, mostly.

 

[jdeasy]

In KY yes, but in other states where there is a new contestability period, it is not always a better position.

Doesn't matter the state. If the client is not put in a better position then it's not a proper replacement.

Contestability is always a factor in whether it's better or not.

 

[Cyborg7]

You just need to get better at justifying every single replacement and sale to yourself ...