Annual Payment for Final Expense Questions

[CALTCAgent]

Hello,

Are there any final expense companies that can Draft/EFT an annual payment or is it only for monthly?

If so which ones?

Side question:

Is there a smooth way to find out if they have a bank account on the phone before meeting them? ( I know just ask, but I don't want it to sound rude)

 

[tins]

Hello,

Are there any final expense companies that can Draft/EFT an annual payment or is it only for monthly?

If so which ones?

Side question:

Is there a smooth way to find out if they have a bank account on the phone before meeting them? ( I know just ask, but I don't want it to sound rude)

Ask them what method they would likely use to pay the first premium if you were able to offer something that meets their needs.

 

[jdeasy]

Hello,

Are there any final expense companies that can Draft/EFT an annual payment or is it only for monthly?

If so which ones?

Side question:

Is there a smooth way to find out if they have a bank account on the phone before meeting them? ( I know just ask, but I don't want it to sound rude)

Most of the companies have will draft any of the modes, monthly, quarterly, semi annual and annual. I have had the opposite problem. The reason my clients shose other than monthly is so they won't be drafted.

I have one client that gets drafted annually. He's done that for about 5 years. Everyone else wants to be billed. That guy is with Foresters.

I have a policy with OM/F&G that I pay annually. I just got the bill last week. They had a PAC form with it in case I wanted to set it up on autodraft from now on. Seems companies would prefer that.

As for asking banking accounts on the phone, I couldn't imagine a good way to do that, so I don't.

 

[WinoBlues]

Hello,

Are there any final expense companies that can Draft/EFT an annual payment or is it only for monthly?

If so which ones?

Side question:

Is there a smooth way to find out if they have a bank account on the phone before meeting them? ( I know just ask, but I don't want it to sound rude)

I just ask them, while I am quoting them, if they want me to quote them Annual or Monthly. When they say monthly I say great that is done by bank draft from a checking or savings account. Just matter of fact with a level tone, kind of of the cuff.