MedicareMutt
Super Genius
- 129
Any input on The Funeral Consumer Guardian Society and whether or not it is worth the extra premium on Lincoln Heritage plans?
FCGS and Lincoln Heritage
- Thread starter MedicareMutt
- Start date
-
- Tags
- lincoln heritage
- 3,990
It’s not
- Thread starter
- #3
MedicareMutt
Super Genius
- 129
Possibly elaborate ..?
- 913
It's better to have 50-100% more coverage guaranteed than the potential to save $800-$1500 off a funeral.
- Thread starter
- #5
MedicareMutt
Super Genius
- 129
50% sounds high ... I heard with same coverage the rate might be 20 - $30 per month.more ...
- 16,881
You really think that 1-800 number is worth something?
No one ever calls the number. It’s marketing hype. Those policies are CRAZY expensive. I guarantee you 99 times out of 100 the person will buy the policy that gives them more death benefit if they are told about it. The other 1% is a crazier than usual person that would pay an extra dollar per gallon of gas if you put a sticker on the tank saying it would turn their car into a race car.
- Thread starter
- #7
MedicareMutt
Super Genius
- 129
I appreciate the input. I've met people there 10 + years ... They are the largest F.E. company in the U.S. We can say it's fake but I've seen handwritten letters and video testimonials of people happy the guardians were there. I was told the FCGS is a subsidiary of L.H. Also, it does add up that if a funeral home gets a call from them that they will not attempt to "pad" the prices ..? Of course if you are selling on premium / face amount ONLY ... your logic is cogent.
- 16,881
I assume you are new to this? I can promise you the #1 thing every agent is hoping every single time they go in a home (or call a lead for phone sales) is that the person has recently purchased an LH policy. Or any high priced company with or without a gimmick. It’s going to be a lay down sale if they did. The easiest sales to make are to people that are already paying a premium but you can give them a meaningful amount f additional coverage for the same premium.
Also funeral homes can’t adjust their prices up if they think they have a stooge on the phone like you are indicating and probably learned from your LH sales training. They have a government requires price list for everything they do that they must hand to everyone that walks in their door before they can talk price. They would be fined to kingdom come if they operated the way you indicate.
Anyone can call several funeral homes and have them send or read their prices to them for comparison. That’s all the FCGS can or will do. And no one is going to give up thousands of dollars of life insurance coverage for that service once they are taught their other options. It’s smoke and mirrors. Just to try to make the agents not feel guilty selling way over priced policies.
What does Lincoln sell? 5% of the FE policies? Less? Meaning their competitors sell 95% of their market? Does this impress you? The secret sauce for LH is they recruit broke agents and finance their leads for them. Without that, they couldn’t even hang on to what they do now.
You are believing their prpaganda. Globe Life sells more FE than LH. If people writing the testimonials had known that they could have receivrd $15k instead of only $10k, I wonder if they would still be happy that the "guardians" were there?
- 18,988
They are no where near the number 1 FE company. That is their big lie though.
As for the FCGS, it's nothing but a gimmick. But here's the story, we pay within 24 hours of death. No death cert needed, we pay. So we will negotiate with the funeral home to get you the best rate because we pay within 24 hours we have leverage. Funeral home have to use any casket and cannot charge a handling fee so we will shit one to them if they won't cooperate.
Sounds like a plan if you don't know the whole truth. They do pay within 24 hours on non contestable claims. There's the rub. They won't do anything on contestable claims except maybe make a phone call and beg the funeral home to give you a deal. Which in turn only serves to piss off the people at the funeral home at an already bad time for the family.
They have absolutely no leverage with the 24 hours. Any funeral home in America can get paid within 24 hours on a non contestable claim simply by doing an assignment.
I drank the LH kool aid too. LH was my first true FE company I ever contracted with. I believed that crap too because I didn't know any better. I'm sure I told people that LH was number 1 because I was told LH was number 1.
15 years into being FE focused now and I can say that only 2 companies I've ever dealt with are worse than LH.
