Final Expense Professional Need Your Help

NoFault · 10-29-2009, 01:05 PM

I currently have a lady that is 67 years old, she's a diabetic, High Blood Pressure, and Empysema, and also smokes. She wants at least $20K DB, and would like to get it at around $60/month premium. Is this doable?

I carried CLB, and UHL..and it seem impossible.

If it cost more, what should I say to her so that I can close the deal? I definitely need a sale...

TristanTLC · 10-29-2009, 01:14 PM

Lol. that's funny.

WinoBlues · 10-29-2009, 04:09 PM

Has she been prescribed oxygen? Not is she using it. Has she been prescribed it?

Which state?

Originally Posted by NoFault

I currently have a lady that is 67 years old, she's a diabetic, High Blood Pressure, and Empysema, and also smokes. She wants at least $20K DB, and would like to get it at around $60/month premium. Is this doable?

I carried CLB, and UHL..and it seem impossible.

If it cost more, what should I say to her so that I can close the deal? I definitely need a sale...

jdeasy · 10-29-2009, 06:09 PM

Originally Posted by NoFault

I currently have a lady that is 67 years old, she's a diabetic, High Blood Pressure, and Empysema, and also smokes. She wants at least $20K DB, and would like to get it at around $60/month premium. Is this doable?

I carried CLB, and UHL..and it seem impossible.

If it cost more, what should I say to her so that I can close the deal? I definitely need a sale...

The best deal she will get on $20,000 whole life is $110-120 month. RNA's fully underwritten whole life would be $78/mo., but, she wouldn't qualify for it.

G.Gordon · 10-29-2009, 08:39 PM

When you find a carrier that will take her work from both ends.

She named two parameters. $20k in coverage and $60/mo in premium. Work between them. Quote from $20k in coverage at what ever premium that is and keep reducing it by 2.5k in coverage until you reach $60/mo in premium.

Mrs. Jones,

Here's the reality of your situation. Years and years of insurance experiencs set the prices according to related risk. In your particular case (67 female, smoker, emphazema, diabetic, hbp) here are the options you have.

"show her the rates/coverage options listed on a legal pad" "listing the characteristics of her case will draw attention to the real picture of her health and possibility of death"

Mrs, Jones... which one meets your needs.

SHUT UP. DON'T TALK. UNTIL SHE SAYS SOMETHING... DON'T TALK.

WinoBlues · 10-29-2009, 09:41 PM

Got a $1.00 that says she picks one in the middle. The only other thing I add to this is the name of the beneficiary.

Originally Posted by G.Gordon

When you find a carrier that will take her work from both ends.

She named two parameters. $20k in coverage and $60/mo in premium. Work between them. Quote from $20k in coverage at what ever premium that is and keep reducing it by 2.5k in coverage until you reach $60/mo in premium.

Mrs. Jones,

Here's the reality of your situation. Years and years of insurance experiencs set the prices according to related risk. In your particular case (67 female, smoker, emphazema, diabetic, hbp) here are the options you have.

"show her the rates/coverage options listed on a legal pad" "listing the characteristics of her case will draw attention to the real picture of her health and possibility of death"

Mrs, Jones... which one meets your needs.

SHUT UP. DON'T TALK. UNTIL SHE SAYS SOMETHING... DON'T TALK.

+zeek13 · 11-02-2009, 05:09 PM

Originally Posted by NoFault

I currently have a lady that is 67 years old, she's a diabetic, High Blood Pressure, and Empysema, and also smokes. She wants at least $20K DB, and would like to get it at around $60/month premium. Is this doable?

I carried CLB, and UHL..and it seem impossible.

If it cost more, what should I say to her so that I can close the deal? I definitely need a sale...

Get contract with Americo. No lealth questions or National States 2 yr waiting period. They will either have 2 or 3 yr wait. Americo A Rated

NoFault · 11-02-2009, 05:48 PM

Originally Posted by +zeek13

Get contract with Americo. No lealth questions or National States 2 yr waiting period. They will either have 2 or 3 yr wait. Americo A Rated

But what is the premium? This lady is on a fixed SSI check and can only afford this much, but she really really needed!!! She has no children, no husband, no life insurance, no investment, no saving, so if she goes bye-bye then what???

theinsuranceman · 11-02-2009, 05:54 PM

With no husband and no children to pay for her funeral what worry does she have about leaving a financial burden on them? Why would she even need to buy a FE policy? (She could easily say this to you...how would you respond?)

jdeasy · 11-02-2009, 05:55 PM

Originally Posted by NoFault

But what is the premium? This lady is on a fixed SSI check and can only afford this much, but she really really needed!!! She has no children, no husband, no life insurance, no investment, no saving, so if she goes bye-bye then what???

The max with Americo is $10,000 and the premium would be $135/mo on a 2 year graded. No way she should pay that.

If she has to go GI, MoO would cover her at $10,000 for $51/mo. That's her best deal on a whole policy if she cannot get 1st day coverage.

NoFault · 11-02-2009, 07:55 PM

Originally Posted by theinsuranceman

With no husband and no children to pay for her funeral what worry does she have about leaving a financial burden on them? Why would she even need to buy a FE policy? (She could easily say this to you...how would you respond?)

She wants to bury herself...and leave some behind for her second cousins...
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Originally Posted by jdeasy

The max with Americo is $10,000 and the premium would be $135/mo on a 2 year graded. No way she should pay that.

If she has to go GI, MoO would cover her at $10,000 for $51/mo. That's her best deal on a whole policy if she cannot get 1st day coverage.

Please explain how the GI from MoO works? I'm new to this game so I'm not so familiar with it...

jdeasy · 11-02-2009, 09:09 PM

Originally Posted by NoFault

She wants to bury herself...and leave some behind for her second cousins...
- - - - - - - - - - - - - - - - - -

Please explain how the GI from MoO works? I'm new to this game so I'm not so familiar with it...

GI is guaranteed issue. They just call up MoO and tell them they want a policy and give them the info on how they are going to pay for it. It's a whole life policy that is ROP for the first two years plus 10%. Accidental death is paid full face from day 1. It's just like Presidential with fewer questions and better rates.

steveadlman · 11-08-2009, 05:48 PM

Originally Posted by NoFault

I currently have a lady that is 67 years old, she's a diabetic, High Blood Pressure, and Empysema, and also smokes. She wants at least $20K DB, and would like to get it at around $60/month premium. Is this doable?

I carried CLB, and UHL..and it seem impossible.

If it cost more, what should I say to her so that I can close the deal? I definitely need a sale...

There is not a graded death benefit policy or a return of premium policy out there where she could receive $20,000 for only $60.00 per month. It would cost much more that $60.00 per month.

G.Gordon · 11-08-2009, 06:13 PM

Originally Posted by steveadlman

There is not a graded death benefit policy or a return of premium policy out there where she could receive $20,000 for only $60.00 per month. It would cost much more that $60.00 per month.

That is a non-issue. If all you focus on is "what is not possible" you will fail in this business. No matter how crazy a prospect's "wants" are it is your job to guide them to what is possible and make it happen and make them feel good about its execution.

theinsuranceman · 11-08-2009, 06:20 PM

He's not focusing on "what's not possible", he's focusing on "reality".

G.Gordon · 11-08-2009, 07:17 PM

Originally Posted by theinsuranceman

He's not focusing on "what's not possible", he's focusing on "reality".

Depends on perspective. From where I sit the reality is that she desires insurance, has certain health parameters, and I am an insurance professional charged with helping her understand "reality".

theinsuranceman · 11-08-2009, 07:37 PM

The "reality" is she wants a premium that no Co. can offer her based on her health conditions.

G.Gordon · 11-08-2009, 07:44 PM

Originally Posted by theinsuranceman

The "reality" is she wants a premium that no Co. can offer her based on her health conditions.

The reality is that she does not understand the reality of this industry and it is his job to educate in a manner as to deliver both of them of a mutually beneficial situation.

She is insured.

He made a sale.

Expand your thinking.

Is what you think of "reality"... "reality" to others.

Yoda · 11-08-2009, 08:15 PM

The lady has a terminal lung disease with a best case scenario of another 7 or 8 years of life in front of her. Any grand ideas of selling her life insurance are FUBAR. .

+zeek13 · 11-09-2009, 06:52 AM

Try National states 2 yr waiting period. You may not get for age 60 at 60.00 mo but u maybe able to cover her. I f she has ability to pay then sell her what she wants at the actual cost or go to 10000 She hasn't any other choice. I do not have my rate chart available but u can ck.