COPD Immediate Coverage

[Todd King]

Will Equitable do direct monthly billing?

The reason I ask is that I had a prospect today that was taking Spiriva for COPD/Emphysema. Quoted her Monumental standard (btw it was from a Monumental drop) $7000 benefit @$36/month. She bought it, did the app, but when I told her they required monthly auto she balked and said no thanks. I sat at her dining room table for 45 minutes trying to close her and even used Mark Rosenthal's closing method of writing the premium and benefit on a piece of paper, then tearing it in two pieces but she was a no go. She could not swing the quarterly pay so I left empty handed with her promising me she would be in touch.

Let me guess, she didn't have a checking account, right?

If she did have a checking account, then she probably didn't like the idea of some company dipping into her account. That one's an easy one to overcome. You just tell her, "What would happen if you have something major happen and have an extended stay in the hospital and couldn't pay that direct bill? Then you would end up with no life insurance because it would lapse, right? You wouldn't want that to happen now would you? Besides that, you don't want to have to pay extra just for a company to direct bill you, would you?"

 

[b61mack]

I will sell this car, give me 1200 down, and pick it up in 2 years.

 

[Mattschmidt]

Let me guess, she didn't have a checking account, right?

If she did have a checking account, then she probably didn't like the idea of some company dipping into her account. That one's an easy one to overcome. You just tell her, "What would happen if you have something major happen and have an extended stay in the hospital and couldn't pay that direct bill? Then you would end up with no life insurance because it would lapse, right? You wouldn't want that to happen now would you? Besides that, you don't want to have to pay extra just for a company to direct bill you, would you?"

I love using that line on prospects, and seeing the blank stare on their face, as they are trying to come up with an excuse...It's a Wiley E. Coyote cartoon where he goes off a cliff, and is grabbing at the air

 

[RonRoberts]

Let me guess, she didn't have a checking account, right?

If she did have a checking account, then she probably didn't like the idea of some company dipping into her account. That one's an easy one to overcome. You just tell her, "What would happen if you have something major happen and have an extended stay in the hospital and couldn't pay that direct bill? Then you would end up with no life insurance because it would lapse, right? You wouldn't want that to happen now would you? Besides that, you don't want to have to pay extra just for a company to direct bill you, would you?"

I gave her just about every kind of answer to her objection that I could think of. She told me flat out from the moment that I told her that it would have to be auto draft that she would not do it and she meant it. She told me that the problem originated with a vitamin company taking her money even after she cancelled. You know them vitamin companies, only suckers take them . Anyway, I did tell her to go get her a debit card and use that as a credit card payment. If she ever wanted to cancel all she had to do was tell the bank she lost her debit card. She still wasn't having it. But, Reardon has it right...you can't fix stupid.

 

[Newby]

People who refuse to open bank accounts can tell you anything they want. But the real reason is they won't open them because they have garnishments against them. As soon as they open them their creditors would find them and recover money.