I need some help from you. I need to learn more about how clients prepay for their funerals, through the funeral homes. On their payment plans options.
I had a client tell me that he was prepaying for his funeral through a funeral home. Every month he was sending them some money on a payment plan. He told me that the funeral home would knock off 10% of a normal funeral cost if he gets on this payment plan to pay off his funeral. He had already picked out everything that he wanted for the funeral.
It hit me a like a ton of bricks. Let’s say the funeral was going to cost $7,000 in this example. He would save 10% $700 bucks. So he would end up paying $6,300 for a $7,000 funeral. This is why the client was doing this plan.
I’m trying to make a better plan for these types of clients using Life Insurance. I know that I can beat the funeral homes deal with life insurance and if he dies tomorrow, that we will go ahead and pay for the entire funeral and his payments are over. I’m looking at a single premium plan. I can sell him $7,000 for around $3,400. That is if he has the money all up front. Option two is sell him a normal whole life plan. I don’t have to tell you agents what a deal life insurance is and how it will save him money. I could give him a $25,000 policy that he will never even pay me $7,000 for. I can save him more then just $700 bucks and it does not matter how soon he dies. I’m still not done running all my numbers on this client. But I know I can save him more then $700 bucks with Life Insurance and give him a greater amount of money and protection. Maybe it is just this one funeral home trying to rip off this guy. I don’t know if this is common or not.
I don’t know much of anything about how funeral homes, do the payment plans or how this works. But I’m on to something here. I can hands down beat the deal the clients are getting. I just need to understand how this works.
I need someone to explain to me how funeral homes do the prepay options and the payment plans.
I will make all of us marketing systems on this idea when I’ve learn more about this. I’m not sure how many people do this also or it would be worth our wild to hunt for these clients.
I had a client tell me that he was prepaying for his funeral through a funeral home. Every month he was sending them some money on a payment plan. He told me that the funeral home would knock off 10% of a normal funeral cost if he gets on this payment plan to pay off his funeral. He had already picked out everything that he wanted for the funeral.
It hit me a like a ton of bricks. Let’s say the funeral was going to cost $7,000 in this example. He would save 10% $700 bucks. So he would end up paying $6,300 for a $7,000 funeral. This is why the client was doing this plan.
I’m trying to make a better plan for these types of clients using Life Insurance. I know that I can beat the funeral homes deal with life insurance and if he dies tomorrow, that we will go ahead and pay for the entire funeral and his payments are over. I’m looking at a single premium plan. I can sell him $7,000 for around $3,400. That is if he has the money all up front. Option two is sell him a normal whole life plan. I don’t have to tell you agents what a deal life insurance is and how it will save him money. I could give him a $25,000 policy that he will never even pay me $7,000 for. I can save him more then just $700 bucks and it does not matter how soon he dies. I’m still not done running all my numbers on this client. But I know I can save him more then $700 bucks with Life Insurance and give him a greater amount of money and protection. Maybe it is just this one funeral home trying to rip off this guy. I don’t know if this is common or not.
I don’t know much of anything about how funeral homes, do the payment plans or how this works. But I’m on to something here. I can hands down beat the deal the clients are getting. I just need to understand how this works.
I need someone to explain to me how funeral homes do the prepay options and the payment plans.
I will make all of us marketing systems on this idea when I’ve learn more about this. I’m not sure how many people do this also or it would be worth our wild to hunt for these clients.
