Banker L & C Final Expense

[yabadabadoo1026]

I generally give benefits of the doubt but since I've seen some negative comments about them I want to check up behind them to see if they misprepresented to get biz

Called on a 80 yo today on FE and he told me the bought $3000 from them 2 months ago cause they ( yes, 2 showed up) told him they couldnt sell him beyond 80

The FE plans i have go to 85---------did they mispresent on their product to extract the biz if anyone can tell me conclusively ?---------I know I would in good conscience cancell and replace elsewhere for a lesser premium if discovered I was lied to. Hoping I wont find that to be the case

 

[rags2riches]

Well, I've been away from the company for a lil over a month now. I don't have the product manuals in front of me but from what I do remember we had a simple issue product that only went to age 80. However, we had the Colonial Penn Guarrantee Issue products that would go beyond 80...
The commish on the Colonial penn was much higher because the annual premiums were much higher for such a low amount of coverage.
Any idea what the rate is on the $3000 FE? If it's around $80/month, it's probably a Colonial Penn product.

 

[yabadabadoo1026]

Thanks for the info and glad to hear they were being straight on their product as you suggest. It was written on a Bankers app and premium was about $50 per month. Wowwwww, $80 for the other

 

[Norwayguy]

Thanks for the info and glad to hear they were being straight on their product as you suggest. It was written on a Bankers app and premium was about $50 per month. Wowwwww, $80 for the other?-------how can anyone in good conscience gouge anyone for that kind of difference in premium if your numbers are right?

Well we are talking about bankers agents are we not All kidding aside I think that can be one of the problems of 2 agents riding together they need more premium to be able to split the case and earn a living...Obviously if it was a manager they get an override but my branch years ago had agents training agents and the managers focused on recruiting.