COVID is here

[billyb]

I have had more deaths in the last 2 weeks than I have had in years. All policies over 2 years old thank God. Debit balances are stacking up too. Almost $6000 and counting. Lots of people having their hours cut and just can't pay their bills. They would be better off if the company laid them off.

 

[shonceman]

I have had more deaths in the last 2 weeks than I have had in years. All policies over 2 years old thank God. Debit balances are stacking up too. Almost $6000 and counting. Lots of people having their hours cut and just can't pay their bills. They would be better off if the company laid them off.

Are your clients' deaths due to COVID?

I don't think we've even begun to see the economic fallout that's coming. Working class people will be hit hardest, I think. They're already feeling it.

 

[billyb]

The beneficiaries are beiñg told that it was Covid. One man had a long history of heart disease and he was 80+ so his wife thinks he passed from those types of complications. I haven't seen any death certificates just going by what I am told.

 

[theinsuranceman]

My book of business seems to be paying their premiums better than ever. No new lapses and no new payors missing a payment and always showing up each month as being one payment behind.

 

[billyb]

I have had several call me because their hours have been cut to levels that they can't pay their bills. When this happens they don't qualify for unemployment. They would receive more money on unemployment.

 

[25MercuryHP]

I have had more deaths in the last 2 weeks than I have had in years. All policies over 2 years old thank God. Debit balances are stacking up too. Almost $6000 and counting. Lots of people having their hours cut and just can't pay their bills. They would be better off if the company laid them off.

What kind of policies?
Most all mine are +65 nothing lapsed yet

 

[billyb]

Both term and FE.

 

[thomasm]

Time to go as earned! As long as you've been in the biz you can afford to do that now. Can't you?

 

[billyb]

I guess I should look at as earned. Just never did it. I have never had a debit balance over $1000 until now. Most of it is in one house.

 

[Life Hawk]

On claim #8 for the year. So far I know of no one who was covid. Have not seen the death cert for the last one. Funeral home took care of it for the family, and family was not sure so maybe natural causes.

Sad thing is I have 2 in the contestable time frame. Both from one company so we will see how it goes.

Hang in there @billyb. These are the pot holes along the way. Keep plugging along, work out the debt with new business, but do it wisely. Don't dump all your new business in a debt hole with a company. Cash flow is still king...