ACCIDENTAL LIFE - makes sense and affordable . . .

[myinsurebiz]

Like stated - it just makes sense and it's affordable.

Accidental Death is the #3 cause of death for those 45 to 64 and #3 overall.

50 year old male can get $250k for $35 a month and if he doesn't use it - will get 98% of his money back ( in most States ) . . .

Nice ice-breaker. Easy phone sale.

In addition - good to have first in case they get declined for other insurance for one reason or another . . .

It's not being marketed as a "final expense" or "permanent" product - but as a compliment.

 

[myinsurebiz]

I get it and the product does have its unique place for those that cannot qualify for something better. My problem is it is not just reserved for those situations & is sometimes sold to the unknowing consumer who doesn't know it doesn't cover natural causes which they are much more likely to die from. In 22 yrs in the business, I have sat with & talked to several widows who believed they had a lot of life insurance proceeds coming, but actually had none because they were sold the quick & easy AD to benefit the agent & the carrier.

I can't imagine in the auto insurance space selling everyone the minimum liability only policy on expensive new cars, then maybe going back later to see if they would like to buy better full coverage. Or selling business people liability only, but not covering their buildings, equipment or employees.

This is what you are essentially doing by selling Accidental only at first, then possibly going back for real coverage. You are doing what is easy & quickest for you. You are selling 1st what should be a last resort or an add on supplement after the real need covered.

Actually not "going back" - submitting both at the same time . . .

 

[myinsurebiz]

And after he is on to his next idea, there will be plenty of families sitting around talking about how life insurance is such a scam because it never pays. Yet more FB posts, GoFundMe campaigns, and other negative comments about the insurance industry because someone had his latest "great idea".

I want to be in Tom's corner and rout for him, but then he keeps having stupid ideas like this.

Not a "next" idea . . . It compliments our Term and Work Site marketing . . .

If it was such a stupid idea - why do A rated Carriers like Forsters, UHL, MoO, Assurity, etc have the product available? Just sayin . . .

 

[myinsurebiz]

Why does the thread title makes me believe that you should be selling this policy to high school seniors before prom night?

AD isn't really a bargain for those under 40 and healthy . . . They will get full Term for about the same price at Super Pre + rates . . .

 

[myinsurebiz]

And after he is on to his next idea, there will be plenty of families sitting around talking about how life insurance is such a scam because it never pays. Yet more FB posts, GoFundMe campaigns, and other negative comments about the insurance industry because someone had his latest "great idea".

If a client buys an AD policy - they know exactly what they are getting. Explained prior to and after policy arrives. We encourage the client to put all policies in a safe place with a description of said policy.

Since regaining my license in 2016 up until today - I have a 100% persistencey. My clients won't need a goFund Me

 

[DHK]

AD isn't really a bargain for those under 40 and healthy . . . They will get full Term for about the same price at Super Pre + rates . . .