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Met with a women who wants a Final Expense Plan where she doesn't need to pay for it until she passes. Is there such an animal?
Is There Such a Thing?
- Thread starter Bob_The_Insurance_Guy
- Start date
- 29,483
- 200
I am sure she is good for it. You should totally trust her and take her word that she will come through for you. 
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I believe that is called having no plan, the arrangement that most of the folks are really trying for.
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Funeral homes tried it and said the persistency was around 35 percent. Some had to close down because people would never pay them back. It's a sad world where ones word is worthless.
- Thread starter
- #7
- 1,908
Isn't that considered a purchase instead of insurance? Insurance is based on probability, if she is already death it is definitive. The premium paid would have to be the face, the insurance company isn't going to take your 5k and pay out a 10K face at the time of death. Mortality would be 100%, no method to invest money.
I could see a funeral home doing something where the arrangements are set up in advance with a total for the client. If they have the funds, then services are performed as requested. If no funds, then the services do not get provided. I wouldn't consider that insurance though.
I could see a funeral home doing something where the arrangements are set up in advance with a total for the client. If they have the funds, then services are performed as requested. If no funds, then the services do not get provided. I wouldn't consider that insurance though.
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It's called a bill of sale. You're welcome. You GA agents are unique...
