400# - 5'2" - 19 Year Old - Wants Life Insurance - Single Pay Maybe . . .

Nov 17, 2008

  1. myinsurebiz
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    myinsurebiz Guru

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    He doesn't want monthly payments. He doesn't want an investment or an annuity. He wants to put up the cash, name his beneficiaries, protect them from taxes and forget about it . . .

    What carrier will write this kid?

    His only issue is his weight. Healthy as a horse. Well - maybe two horses . . .

    He's a rapper in Atlanta and has $100k cash to put up.

    Wants to provide for his 18 year old wife and 3 kids when he kicks the bucket.

    What would be his best course of action to provide liquid cash quickly upon his death?

    Man - these NetQuote leads produce some weird cases. I've checked this guy out - he is legit, but doesn't trust anybody he knows.

    Guess these "unusual" cases appreciate a no pressure insurance guy like me - they open up and seem to really trust a country boy like me . . .

    Any suggestions?

    Thanks,

    Tom
     
  2. djs
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    djs Super Moderator Moderator

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    Only one suggestion....
    Dump the netquote leads.

    I'll take his 100K and get him a 100K in insurance. At 400lbs, he isn't healthy, regardless of what he says. He is diabetes / heart attack / any number of other problems, they just haven't been diagnosed yet. He'll get there.

    If he is self-employed, you might look into group, but I don't know how that works in Atlanta.

    This is one not to waste time on.

    Dan
     
    djs, Nov 17, 2008
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  3. bluemarlin08
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    bluemarlin08 Guru

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    Tom, in all honesty you need to connect with a mature agent or get a good brokerage company.
     
  4. myinsurebiz
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    myinsurebiz Guru

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    They actually produce large commission sales. I've made more in the last two weeks on Term through NQ than ever . . .

    Simply Amazing.

    Actually Blue - I learn very fast. Through this forum I've not only gained the info needed to close sales - but, have done so in minutes - versus - months of dealing with "mature" agents.

    No offense - but it isn't rocket science with someone providing the right direction.

    If you don't wish to assist - by all means don't.

    I appreciate this Forum and many of it's members and their contributions.

    I just want to do what's right by the client. When I'm in doubt - I seek advice . . .

    It's not hard to take an app and press submit once you know what the deal involves and what the client needs.

    So - instead of snide remarks Blue - what would you do in this particular case?

    Tom
     
  5. djs
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    djs Super Moderator Moderator

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    Tom - Blue's comment is actually dead on. When you want to write off the wall cases, a good brokerage company will find a home for it, if it can be done.

    In my P&C world, I write a lot of standard stuff, some non-standard stuff, and then broker out the strange stuff. I get paid, the bills have my name on them, etc, but it gives me a 'staff' of people to deal with this so I don't waste my time on something I know little about.

    Dan
     
    djs, Nov 17, 2008
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  6. myinsurebiz
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    myinsurebiz Guru

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    OK - I'll bite.

    How can a Broker help me?

    How do I get paid?

    Who "owns" the customer?

    I never have said I know all - so, a "broker" or "brokerage" can assist me and the client how?

    Tom
     
  7. djs
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    djs Super Moderator Moderator

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    You own the client.
    The broker pays you.
    The brokerage deals with this type of client question 10 times a day.

    Find an MGA in your area, call them, see what they will do for you. Make sure you ask them these very questions, because they are not universal answers.

    Dan
     
    djs, Nov 17, 2008
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  8. myinsurebiz
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    myinsurebiz Guru

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    With a broker - must I be appointed with the various carriers?

    Tom
     
  9. Dave020
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    Dave020 Super Moderator Moderator

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    Check you PM, Tom. My recommend will appoint and will release on request.
     
    Last edited: Nov 17, 2008
    Dave020, Nov 17, 2008
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  10. TXINSURANCE
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    I agree a specialty broker is the way to go. There are no shortage of them out there, check any agent magazine like Life Insurance Selling - it is online and in print.

    One question for Tom - Does NetQuote consider this a valid lead? While I wish you luck placing your case to me this lead is not worth paying for.
     
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