There Can Be Only One

[VolAgent]

He might have sold them ROP because he knew they had COPD, but he forgot to tell them there was a 2 year ROP. They thought it was immediate coverage.

He probably said something to the effect of, "Your coverage starts immediately." Which it does, just not the way they think it does.

A lot of the GI plans sold on TV use similar verbiage and then disclaim it away in the fine print both on the ad and what the people actually receive.

 

[jdeasy]

Renewals on SL??


They might as well say they will pay 100% no longer that it stays on the books.

 

[KRobby]

I just got an email from Globe Life saying $1 buys $100,000. That sounds like a pretty good deal. But then I looked at the fine print at the bottom like everyone else and it says $1 is only for the first month and then it goes to the rate schedule. So basicly a completely worthless advertisement unless it's tricks someone.

 

[VolAgent]

I just got an email from Globe Life saying $1 buys $100,000. That sounds like a pretty good deal. But then I looked at the fine print at the bottom like everyone else and it says $1 is only for the first month and then it goes to the rate schedule. So basicly a completely worthless advertisement unless it's tricks someone.

It does all the time.

I would be curious how many they retain after the first month or two.

 

[rousemark]

Renewals on SL??


They might as well say they will pay 100% no longer that it stays on the books.

SL has grown over the years. Apparently not all of it being replaced so somebody is getting renewals. Maybe Greg is getting them all?

 

[FinalExpenseDojo.com]

The Legacy deal locks the cost of their choice of available caskets, marker and vault at $3500 no matter when death occurs.

I've replaced SL every here & there. I've heard this from the client but can never find anything about it in the policy or anything like that.

How can they guarantee this? Let's say a 10 year old gets a policy and they die when they are 90. In 80 years the casket, marker, & vault still only costs the clients family $3,500?

 

[SPUR CITY]

How can they guarantee this? Let's say a 10 year old gets a policy and they die when they are 90. In 80 years the casket, marker, & vault still only costs the clients family $3,500?

Yup! it’s called Legacy Assurance and is facilitated by Senior Life

The casket is 1,500 (no matter which of the 220 they offer the family picks.**the vault is 750... and there are several options for the marker/headstone. And they will help negotiate the remaining costs as well.

 

[Baseball7]

Have only seen a hand full in my neck of the woods, but they were all replaced.

 

[rousemark]

I've replaced SL every here & there. I've heard this from the client but can never find anything about it in the policy or anything like that.

How can they guarantee this? Let's say a 10 year old gets a policy and they die when they are 90. In 80 years the casket, marker, & vault still only costs the clients family $3,500?

It is not a part of the insurance contract. It is separate. How much would $36 per year for 80 years plus investment income amount to? Figure that most families will never know about the program and will not take advantage of it. Then, that $36 per year is pure profit.

 

[theinsuranceman]

It is not a part of the insurance contract. It is separate. How much would $36 per year for 80 years plus investment income amount to? Figure that most families will never know about the program and will not take advantage of it. Then, that $36 per year is pure profit.

The $36 per year would be all profit if the family never took advantage of Legacy Assurance. Same can be said about a policy from any life insurance carrier.....if the family never files the claim the premiums collected are also all profit.

Most every client will have their Legacy Assurance membership material and selection of casket, vault, and monument they like with their policy. If the policy gets lost, which can happen with any carrier with any type product, then the Legacy Assurance membership/selection probably gets lost too.

For the 80 year investment let's look at that......

A 10 year old is enrolled into a 20 pay life policy and also the $3 per month Legacy Assurance membership. Legacy locks the price of the casket, vault, and monument into place at $3500. (At the funeral home at today's prices the casket, vault, and monument can easily run $6500). Let's say the insured dies at age 90, 80 years later. The insured's family would get the casket, vault, and monument for: $3500 PLUS $36 x 80 years ($2880).
$3500 PLUS $2880 = $6380!
This means that 80 years down the road the casket, vault, and monument is only $6380! How much do you think that same casket, vault, and monument will cost 80 years later at the funeral home?

As for your statement that "most families will never know about the program" is like saying "most families won't know the deceased had life insurance". It does happen but not most of the time. You state this as if it's a fact, so let me ask, where did you get your information from? That's what hurts this forum...people stating their opinions as if they had cold hard metrics on the issue.

Not trying to argue, just the facts sir.

One good thing about Legacy Assurance is that it will get the agent 1-2 EXTRA sales per 20 leads worked and also improves the 13th month persistency.

If anyone would like a contract so you can use Legacy Assurance in your presentation please contact me @ 252-292-3350.