Are the Big Companies Our FE Competition?

[PEL Racing]

To me , FE seems like the last resort for people who may not qualify for a larger , mutual company with more competitive rates. Kind of like buying groceries at your local convenience store- the price is way higher and it may not be the brand you normally buy, but it satisfies a need.

 

[gordon112]

To me , FE seems like the last resort for people who may not qualify for a larger , mutual company with more competitive rates. Kind of like buying groceries at your local convenience store- the price is way higher and it may not be the brand you normally buy, but it satisfies a need.

Well that isn't a bad analogy, but most of all the bigger mutual companies are not into small face amounts that the FE companies offer. It's a different market all together.

Generally speaking, you are looking at a table 4 or higher to make up for average health with several rx meds and other issues.

FE policies are for an immediate need that generally pay immediately.

 

[PEL Racing]

So who are some reputable , well rated FE companies??

 

[rousemark]

To me , FE seems like the last resort for people who may not qualify for a larger , mutual company with more competitive rates. Kind of like buying groceries at your local convenience store- the price is way higher and it may not be the brand you normally buy, but it satisfies a need.

Many FE WL plans will compare very favorably with Mutual WL rates. But the big Mutuals do not usually write the small face amounts or have the liberal underwriting that FE companies have. Many people have no desire for 50K+ coverages.. They just want enough to pay for the burial.

 

[senior-advisor-indiana]

Then I SUCKASS, lol!

We already figured this since your state flag says you are in CA....:bump:

 

[jdeasy]

To me , FE seems like the last resort for people who may not qualify for a larger , mutual company with more competitive rates. Kind of like buying groceries at your local convenience store- the price is way higher and it may not be the brand you normally buy, but it satisfies a need.

That ain't the FE market at all. Nor are the prices higher. What you just posted is how agents that don't know the FE market look at it.

Nothing wrong with that view if you don't intend to work the FE market. The number one reason agents don't make it in FE is because they never understand the market.

 

[LonghornMark]

Am I correct JD in that the only way to understand the FE market is to get out there and work it? I suppose the day you deliver a death claim check would bring your perspective full circle.

 

[Toranaga]

That ain't the FE market at all. Nor are the prices higher. What you just posted is how agents that don't know the FE market look at it.

Nothing wrong with that view if you don't intend to work the FE market. The number one reason agents don't make it in FE is because they never understand the market.

Do you mind expanding on that?

 

[WinoBlues]

Well that isn't a bad analogy, but most of all the bigger mutual companies are not into small face amounts that the FE companies offer. It's a different market all together.

Generally speaking, you are looking at a table 4 or higher to make up for average health with several rx meds and other issues.

FE policies are for an immediate need that generally pay immediately.

I only know of a few that immediately, after contestability. LH, per them, Forethought, per Newby, United Heritage, per experience. Thereat be a few others not many.

 

[Newby]

I only know of a few that immediately, after contestability. LH, per them, Forethought, per Newby, United Heritage, per experience. Thereat be a few others not many.

You are exactly right. Just because a company has a final expense product does NOT mean they pay death claims quickly.

You named most of the quick ones. 5-star puts right in their brochure that they pay 50% of the claim within 24-hours and the other half after certified death certificates are issued. I've never had a death claim with them yet to test it.

ForeThought's entire company was built on having the money in your hands before the funeral (or visitation) starts. No death certificate needed. They've done that for over 25-years.