Insurance for Two Old Folks

[WinoBlues]

I have no problem selling term to older folks. I have a $400,000 10 year in underwriting now for a 68 year old.

What I will not do is sell term for FE. That is a permanent need and I will not fill a permanent need with a temporary solution. The guy I'm doing the term policy for has a $25,000 whole life for his FE. The term is for a temporary situation.

When I meet with people I first find out why I'm there. It's most always for FE because they responded to a FE mailer. But, it they have me there for a different reason then I will see what I can do for them.

If it is for FE then part of my prestnation is to tell them that I will not sell them anything but fully guaranteed whole life for that need. I explain why and I also offer to give them the number of an agent that will sell them term for their FE needs. I have yet to have anyone ask me for that number once I've explained the reasoning.

I do seem to remember that you have mentioned selling AmAm and RNA term.

In my example the client was coming out of a termed out policy. He does not have any permanent insurance but could easily write a check for $25,000 to cover any FE need. He just wants some extra cash for his wife.

He is not the "typical" FE client. I guess my point to all this is there is no typical senior. To me the typical senior couple each have a cell phone. Many have email and text. Are still working or have a nice pension. Have savings and maybe CDs or IRAs. If they live in a trailer, it is the nice 3 bedroom 2 bath place in a nice senior park. They pay their bills.

Now, I do have some of the other seniors. That APL and policy loan monthly. Cash values being available to pay premiums are very important. Whole Life is absolutely the best plan for them. This is a true of a certain income demographic more so than just age.

Seems like we agree.

 

[DohertyInsuranceAZ]

Everything was great on this post, had to bump it.