Charlotte BBB Warning About a FE Mailer

[scagnt83]

Scagnt83, if you don't mind my asking, what is your feeling about selling Simplifed Issue to completely healthy individuals. I understand that there are times, 5k WL, where it makes sense; however, I know some agents feel they are scalping people. Feel free to PM if you want, thanks.

I have nothing against SIWL when sold properly. I just sold a SIWL this week.

Most fully underwritten policies do not offer face amounts below $25k(ish). If no fully underwritten options exist then there really is no other option than SI, so it is a moot point.

Many fully underwritten policies do not require parameds for amounts under the $50k-$100k range. Many are non-med, or oral swab, or urine only (often up to age 60-70 depending on the carrier).

So for amounts over $25k I feel that non SI should be presented to the client as an option, and should be the first recommendation by the agent (assuming it is the lowest cost). But if they are dead set against an oral swab or taking a piss test (no blood), then move on to SI.

If you mean higher amounts, then if fully underwritten is not presented as an option then yes, I feel the agent is as you put it "scalping" the client. I have found that many agents who do strictly just SIWL do not realize how lax the UW can be on a fully underwritten policy when the face is under $100k, especially if the client is healthy.


If you bought a car, and the car lot had a model that looked the same, drove the same, & was the same quality... but was 30%-50% less.... and the salesman failed to at least tell you about it; would you feel scalped?

 

[gymguy]

This has been an interesting read no doubt.

@ scagnt You seem like an honest dude and for that I commend you. However, I think you are taking this marketing thing too far. Every business in some way shape for form has to put on a theatrical appearance when doing their marketing.

Human beings by their very nature are most often extremely weak, impulsive, illogical, irrational, judgmental, and very emotional creatures. Its because of this that businesses must present themselves in a way that generates appeal while simultaneously lowering defenses. Flat out lying is obviously entirely wrong in every way, but simply stating partial truths or using synonyms to describe your product or service is still honest and frankly entirely necessary in order to reach your audience.

For example, "state regulated program designed to cover 100% of your funeral expenses." (I personally prefer the use of life insurance in my marketing)

Are these programs regulated by the states? Absolutely. Insurance companies face thousands of regulations for so many different things. There is an insane amount of criteria an insurance company must meet in order to offer people insurance. Agents too must pass background checks and adhere to federal and state regulations. Are these plans designed to cover 100% of someones funeral costs? Again absolutely. There is not much to say. People take out an FE policy to pay for final expenses and it serves this purpose extremely well. There is nothing UNTRUE about the marketing statement itself. Your argument is merely that, its not direct enough and thus its misleading.

Well here is a question for you. Are you married or have you ever dated a woman? Did you walk up to your then wife and say the following: "hey there I am certainly physically attracted to you, and I would very much like to **** your brains out. Are you game?"

I know you didn't say that because you and I both know what result you would be left with. She would slap you or walk away or both. So what did you say to her instead? Something like: "Hi my name is blah blah and I would like to buy you a drink etc etc"? Uh news flash according to you, that is misleading as hell and thus unethical. If you were as direct with her as you claim every company should be when marketing, you would have merely say yo woman I want to be on you. Then again you know that will NEVER work, and thus you accept that you HAVE to alter your marketing strategy because your audience dictates that you must. Don't feel bad though. I did the same thing with my wife. I asked her to dance, but in reality I was imagining her doing a backwards crab walk towards me while naked, and I knew I needed a step one to make that happen one day. (and please don't claim that ALL relationships don't start this way because they do. attraction is always step 1. in any relationship)

What do you think would happen if anyone took your approach and marketed FE in a way you approve of as "non misleading"? Here is the message you would have: "We want to sell you life insurance. If you give two shits about your family and not leaving them with a debt upwards of $10,000, send back this card. We will come to your house and sell you life insurance. You need to have a bank account because we will be billing directly through you bank every month. Make sure you remember that YOU raised your kids, so don't think for a moment that you need to consult with them for anything because that would be utterly insane to think you would need the consultation of a human being you raised. If anything, they should be seeking advice from you still. Please tell us how much money you are willing to spend each month and send back this card before you do anything else today."

EVERY business does this to some extend. As long as you do what is best for the client, and you don't lie, its perfectly fine to market in these ways. I challenge you to find a truly 100% direct marketing attempt by any company. You wont find it because it would never work. Not with humans.

Either way man, you do seem honest and I truly commend that. However, I think your perspective is just a little off

 

[KidsGotHeart]

This has been an interesting read no doubt.

@ scagnt You seem like an honest dude and for that I commend you. However, I think you are taking this marketing thing too far. Every business in some way shape for form has to put on a theatrical appearance when doing their marketing.

Human beings by their very nature are most often extremely weak, impulsive, illogical, irrational, judgmental, and very emotional creatures. Its because of this that businesses must present themselves in a way that generates appeal while simultaneously lowering defenses. Flat out lying is obviously entirely wrong in every way, but simply stating partial truths or using synonyms to describe your product or service is still honest and frankly entirely necessary in order to reach your audience.

For example, "state regulated program designed to cover 100% of your funeral expenses." (I personally prefer the use of life insurance in my marketing)

Are these programs regulated by the states? Absolutely. Insurance companies face thousands of regulations for so many different things. There is an insane amount of criteria an insurance company must meet in order to offer people insurance. Agents too must pass background checks and adhere to federal and state regulations. Are these plans designed to cover 100% of someones funeral costs? Again absolutely. There is not much to say. People take out an FE policy to pay for final expenses and it serves this purpose extremely well. There is nothing UNTRUE about the marketing statement itself. Your argument is merely that, its not direct enough and thus its misleading.

Well here is a question for you. Are you married or have you ever dated a woman? Did you walk up to your then wife and say the following: "hey there I am certainly physically attracted to you, and I would very much like to **** your brains out. Are you game?"

I know you didn't say that because you and I both know what result you would be left with. She would slap you or walk away or both. So what did you say to her instead? Something like: "Hi my name is blah blah and I would like to buy you a drink etc etc"?Uh news flash according to you, that is misleading as hell and thus unethical. If you were as direct with her as you claim every company should be when marketing, you would have merely say yo woman I want to be on you. Then again you know that will NEVER work, and thus you accept that you HAVE to alter your marketing strategy because your audience dictates that you must. Don't feel bad though. I did the same thing with my wife. I asked her to dance, but in reality I was imagining her doing a backwards crab walk towards me while naked, and I knew I needed a step one to make that happen one day. (and please don't claim that ALL relationships don't start this way because they do. attraction is always step 1. in any relationship)

What do you think would happen if anyone took your approach and marketed FE in a way you approve of as "non misleading"? Here is the message you would have: "We want to sell you life insurance. If you give two shits about your family and not leaving them with a debt upwards of $10,000, send back this card. We will come to your house and sell you life insurance. You need to have a bank account because we will be billing directly through you bank every month. Make sure you remember that YOU raised your kids, so don't think for a moment that you need to consult with them for anything because that would be utterly insane to think you would need the consultation of a human being you raised. If anything, they should be seeking advice from you still. Please tell us how much money you are willing to spend each month and send back this card before you do anything else today."

EVERY business does this to some extend. As long as you do what is best for the client, and you don't lie, its perfectly fine to market in these ways. I challenge you to find a truly 100% direct marketing attempt by any company. You wont find it because it would never work. Not with humans.

Either way man, you do seem honest and I truly commend that. However, I think your perspective is just a little off

Not a drink. A state regulated beverage.

 

[HoosierLife]

Not a drink. A state regulated beverage.

Are they not regulated by the state? Ages 21 and over only

 

[KidsGotHeart]

Are they not regulated by the state? Ages 21 and over only

I agree. I was letting him know what to call it. I might go out tomorrow and do state regulated reviews.

 

[goget]

I guess when the new car ad says $16k in bold letters and a little you can't read asterisk that's ok? Bottom line advertising is just that advertising . Nobody is forced to by anything. On any insurance mailouts that offers free info the only way to accurately give that info is to meet with them and assess there health. If I just send the info by the mail it's not accurate .