I thought people didn't need insurance once they aged? I must be confused?
Depends on if they saved up any money. If they didn't, they buy the pay for life plans. If they did, they still buy the single-pay or 3-year pay plans as an easy way to cover final expenses.
And if they did REAL well...single pay wealth transfer plans.
And finally, don't think that only the elderly buy final expense. Usually starts with the 45 and up crowd. Most likely ages are 55 - 75. That's the reason AARP dropped "Retired Persons" from their name. They want to sell them at 50 now.
I have sold 5K-15K final expense plans to young Moms before, especially if they had child term riders available at the company I worked for. That was when I was mainly a debit agent, though.
I thought people didn't need insurance once they aged? I must be confused?
AARP promotes (among other things) that "you do not want to dump funeral costs and unpaid bills onto the kids." OK.
You might be thinking of the "crossing finish line;" where the need for life insurance ceases when the kids are gone, the house is paid off, the spouse is gone and no one really needs the insurance. It's like paying for auto insurance long after you sold the car and can't drive any longer...what's the point?
I could be wrong, but AARP keep sending me this stuff and they are never wrong.
Has anyone on this forum done any Final Expense business with an IMO called Columbia Management Group of Columbia, MO? They are in the senior market, but appear to focus on FE. Their carriers are Chesapeake Life, Unity Financial, and Standard Life. From what I have seen on their web site, they do appear to offer support and several lead options,
Last edited by arnguy : 02-19-2008 at 10:41 AM.
Reason: spelling
Has abyone on this forum done any Final Expense business with an IMO called Columbia Management Group of Columbia, MO? They are in the senior market, but appear to focus on FE. Their carriers are Chesapeake Life, Unity Financial, and Standard Life. From what I have seen on their web site, they do appear to offer support and several lead options,
Columbia Management is owned by Shep Cutler, one of the "orginal" final expense salespersons. He's known througout the industry and even had a front page with a story in Senior Market Advisor Magazine.
I wouldn't hold my breath for a lot of support though. None of their carriers are a big deal.
However, Shep is a great guy. I've spoken with him many times.
Rick
------------------------------------ ILIAA
Training, Community, Support, and Success Independent Life Insurance Agents Assn rick@iliaa.org
AARP promotes (among other things) that "you do not want to dump funeral costs and unpaid bills onto the kids." OK.
You might be thinking of the "crossing finish line;" where the need for life insurance ceases when the kids are gone, the house is paid off, the spouse is gone and no one really needs the insurance. It's like paying for auto insurance long after you sold the car and can't drive any longer...what's the point?
I could be wrong, but AARP keep sending me this stuff and they are never wrong.
Yes you are correct AARP is never wrong! Outside of that I'm a big WL guy and everyone needs it! As this poster so noted;
Depends on if they saved up any money. If they didn't, they buy the pay for life plans. If they did, they still buy the single-pay or 3-year pay plans as an easy way to cover final expenses.
And if they did REAL well...single pay wealth transfer plans.
And finally, don't think that only the elderly buy final expense. Usually starts with the 45 and up crowd. Most likely ages are 55 - 75. That's the reason AARP dropped "Retired Persons" from their name. They want to sell them at 50 now.
Just depends upon how well their BTID worked out for them on what kind of WL they buy later in life at elevated cost.
Columbia Management is owned by Shep Cutler, one of the "orginal" final expense salespersons. He's known througout the industry and even had a front page with a story in Senior Market Advisor Magazine.
I wouldn't hold my breath for a lot of support though. None of their carriers are a big deal.
However, Shep is a great guy. I've spoken with him many times.
Rick
I have monumental life through them and a MA and med supp carrier. THey are also know as Senior Marketing Specialists and yes the owner is Dan.
Greensky, sounds like a similar deal to lincoln heritage? high premiums, charge you for mailer leads, just go out there and sell it even if it is high$$ ???
The manager here who tried to recruit me to sell LH was saying he had agents that purchased many leads from him and sold a lot, but who knows, I never met the agents to verify, maybe they are doing well. the leads were high$$$ and the premiums seemed high, to me. I never bought the leads and never sold a policy.
I've got Columbian Life for Final Expense, but Pioneer American, Settlers Life, Citizens Security, and Illinois Mutual all offer decent Final Expense products, with pretty good commissions.
Dave
------------------------------------ 3rd Generation Independent Agent- L&H Only
I use Assurity. There is a local IMO here that offers them.
Their pricing is decent and I have great local support. I had Americo for GI but never sold any (priced too high, but it was GI).
------------------------------------
"Government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it." Ronald Reagan
Final Expense
Outside of that I'm a big WL guy and everyone needs it! As this poster so noted;
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