Weird Appointment W/ Bank Payee

[Cyborg7]

Ran into strange one yesterday

55 year old lady in trailer , smoker , oxygen , disability income

She wants $5k of coverage

So when we go to set up the bank draft I discover that she's a beneficiary only on the bank acct where she receives her gubmint check & the payee is a local ministry (red flags) that is listed as a corporation on the bank statement. So technically ... Lady can't access her own gubmint funds. I'm sure if I ask the local ministry (reverend Ruth yes I'm serious) they will veto deal not wanting the lady to give up $$ each month on burial coverage!

 

[jdeasy]

Ran into strange one yesterday

55 year old lady in trailer , smoker , oxygen , disability income

She wants $5k of coverage

So when we go to set up the bank draft I discover that she's a beneficiary only on the bank acct where she receives her gubmint check & the payee is a local ministry (red flags) that is listed as a corporation on the bank statement. So technically ... Lady can't access her own gubmint funds. I'm sure if I ask the local ministry (reverend Ruth yes I'm serious) they will veto deal not wanting the lady to give up $$ each month on burial coverage!

I had one of those a few years ago and they were thrilled that the guy wanted to get life insurance. They wouldn't do monthly drafts but did pay annually from his funds.

 

[Cyborg7]

Hmmm .. I guess I'll call the reverend

 

[finalexpenseguru]

all this for a $5k policy on a 55 yr old? Don't spend all that commission in one place.

 

[Cyborg7]

Lol ! Good point !!!

 

[yogooglethis]

Ran into strange one yesterday

55 year old lady in trailer , smoker , oxygen , disability income

She wants $5k of coverage

So when we go to set up the bank draft I discover that she's a beneficiary only on the bank acct where she receives her gubmint check & the payee is a local ministry (red flags) that is listed as a corporation on the bank statement. So technically ... Lady can't access her own gubmint funds. I'm sure if I ask the local ministry (reverend Ruth yes I'm serious) they will veto deal not wanting the lady to give up $$ each month on burial coverage!

I assume that is something like the Lutheran Services I see here in Fl. that help individuals when the Social Security beneficiary is deemed incompetent to handle their money usually because of drug or mental issues.I have never sold FE to one of these individual but when selling MA I always had to have the payee (Lutheran services ) present and also the sign application if they are also the authorized representative..They won't necessary shoot down the idea of FE as long as they think the need is there and it's affordable but it does seem like a long shot compared to enrolling someone in a free MA plan.one of these type of services in my area became a honey hole for me for a while because the reverend in charge thought it was a good idea for all her customers to have a free MA plan with free transportation, dental and OTC items.

 

[VolAgent]

I assume that is something like the Lutheran Services I see here in Fl. that help individuals when the Social Security beneficiary is deemed incompetent to handle their money usually because of drug or mental issues.I have never sold FE to one of these individual but when selling MA I always had to have the payee (Lutheran services ) present and also the sign application if they are also the authorized representative..They won't necessary shoot down the idea of FE as long as they think the need is there and it's affordable but it does seem like a long shot compared to enrolling someone in a free MA plan.one of these type of services in my area became a honey hole for me for a while because the reverend in charge thought it was a good idea for all her customers to have a free MA plan with free transportation, dental and OTC items.

You just have to think in terms the reverend can understand.

Without insurance, it is unlikely the deceased or family will be able to pay the fee for use of the chapel or an honorarium to the minister.

 

[Cyborg7]

Lord knows there's no chance that a religious group with use "faith" to position themselves as a payee on a bank account In order to have total control of a bunch of $$$ flowing through accounts right? LOL. Major red flags.

 

[Mavrik]

You're right, that is strange...

 

[rousemark]

You just have to think in terms the reverend can understand.

Without insurance, it is unlikely the deceased or family will be able to pay the fee for use of the chapel or an honorarium to the minister.

Fee to use a church chapel?