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I've had a LOT of calls from agents the last few days about Funeral Trusts. I gave my opinion on another thread that the two big marketers of them are going about it the wrong way and are NOT doing a good thing for the client and are making it hard for the agent to sell it.
Here is my opinion of them take it or leave it.
1. The easiest way to sell funeral trusts is to contract with a funeral home and market for them. I know of LOTS of agents who make great incomes consistantly year after year doing this. I don't know of ANYONE selling a volume of them separate from a funeral home.
2. The problem with doing it separate from a funeral home is that you LOSE the price guarantee and that's what MOST buyers of them are looking for. To try to sidetrack the consumer, the marketers have played up the "irrevocable" option and abuse it by making policies irrevocable for people who are not going on Medicaid.
3. The marketers of the funeral trusts are having agents give the clients between 2 to 3% annual policy growth and that's not enough to excite most healthy clients. You need something more exciting OR a price guarantee from their funeral home.
So what's the answer for the independent agent who wants to sell these products but doesn't want to camp out in the funeral home all day?
1. Sell the Settlers Life Funeral Trust rather than the NGL version to anyone who is reasonable healthy. They have the exact SAME funeral Trust or Estate Planning Trust but have a boosted face amount rather than the promise of non-guaranteed future growth. This is MUCH easier for your client to get excited about.
2. Sell the NGL for guaranteed issue cases BUT with several important stipulations that I can easily teach you.
3. Sell a guaranteed issue funeral trust that DOES have a nationwide funeral price guarantee as soon as it hits the market (contact me now for early-bird agent appointments.) Remember: a price guarantee DOES turn this into a VERY sellable product. And it's almost ready to launch.
If you're serious about selling funeral trusts (and many of you tell me you are) you need to know When to sell the Settlers version and when to use the NGL. When you use the Funeral trust and when to use the Estate Planning Trust. When to make it irrevocable and when to leave it revocable. And you need to know how and when and where and why you can give a written price guarantee from funeral homes nationwide which has never been offered before by anyone to independent agents.
Here is my opinion of them take it or leave it.
1. The easiest way to sell funeral trusts is to contract with a funeral home and market for them. I know of LOTS of agents who make great incomes consistantly year after year doing this. I don't know of ANYONE selling a volume of them separate from a funeral home.
2. The problem with doing it separate from a funeral home is that you LOSE the price guarantee and that's what MOST buyers of them are looking for. To try to sidetrack the consumer, the marketers have played up the "irrevocable" option and abuse it by making policies irrevocable for people who are not going on Medicaid.
3. The marketers of the funeral trusts are having agents give the clients between 2 to 3% annual policy growth and that's not enough to excite most healthy clients. You need something more exciting OR a price guarantee from their funeral home.
So what's the answer for the independent agent who wants to sell these products but doesn't want to camp out in the funeral home all day?
1. Sell the Settlers Life Funeral Trust rather than the NGL version to anyone who is reasonable healthy. They have the exact SAME funeral Trust or Estate Planning Trust but have a boosted face amount rather than the promise of non-guaranteed future growth. This is MUCH easier for your client to get excited about.
2. Sell the NGL for guaranteed issue cases BUT with several important stipulations that I can easily teach you.
3. Sell a guaranteed issue funeral trust that DOES have a nationwide funeral price guarantee as soon as it hits the market (contact me now for early-bird agent appointments.) Remember: a price guarantee DOES turn this into a VERY sellable product. And it's almost ready to launch.
If you're serious about selling funeral trusts (and many of you tell me you are) you need to know When to sell the Settlers version and when to use the NGL. When you use the Funeral trust and when to use the Estate Planning Trust. When to make it irrevocable and when to leave it revocable. And you need to know how and when and where and why you can give a written price guarantee from funeral homes nationwide which has never been offered before by anyone to independent agents.
