FE Agents be Careful with Dignity Planning

[glrocky]

I just talked to my rep with Standard Life & Accident. She brought this concern to the attention of a VP and the VP said that this was probably covered under the contract, but the rep had also told me that she would call me back later today.

I'll post everyone on the response that I get.

 

[glrocky]

This is the official response to my query from SCI:

Yes, Once they create a membership they are considered clients internally and will not be solicited any products internally.
Right out of our agreement,

DMN agrees it will not advertise, market, or facilitate the sale of any insurance products or services to customers of COMPANY during the term of this Agreement other than those offered by COMPANY.

That does not, however mean that if we mass marketing, mailings, etc. which we do by demographics and zip codes etc. that they would never receive a piece of mail just as their neighbor did because they have a membership.

In short, these folks are totally off limits to any of our counselors, and more importantly no one in any sales capacity has any access to the information until death.

Does this help?

 

[KConway]

Thanks for the info Newby. Very good info for a new guy entering the FE arena.

 

[Newby]

I can assure you that the "word" of management at SCI is as good as gold...or gold colored spray paint. Read your history on those "professionals" and get your own opinion.

I personally don't trust them.

This is the official response to my query from SCI:

Yes, Once they create a membership they are considered clients internally and will not be solicited any products internally.
Right out of our agreement,

DMN agrees it will not advertise, market, or facilitate the sale of any insurance products or services to customers of COMPANY during the term of this Agreement other than those offered by COMPANY.

That does not, however mean that if we mass marketing, mailings, etc. which we do by demographics and zip codes etc. that they would never receive a piece of mail just as their neighbor did because they have a membership.

In short, these folks are totally off limits to any of our counselors, and more importantly no one in any sales capacity has any access to the information until death.

Does this help?

 

[Damos]

This thread is over a year old. does anyone have any recent info regarding this group? I saw a webinar featuring their service a week ago and it sounded good. Just doing my homework

 

[Newby]

I'd like to know if anyone is having success using it as a marketing tool also.

The Dignity Funeral Homes all have in-house agents who are selling funeral pre-need insurance and giving price guarantees. They see us (FE agents) as competition to what they are doing.

The management of the company sees us as an additional sales channel.

It's a scary thought to have MY clients info sent to the funeral home that houses agents who want to replace my sale with their own.

I honestly don't know of any cases good or bad with it. I do know the sales manager of the locations I sent a couple of test cases through had the info on them. He could very easily replace any business that came through there IF he wanted to. He knows he's not supposed to.

 

[thuban]

Hi, Newby,

Other than the inflation protection, are there any advantages that pre-need has over FE?

Thuban

 

[Newby]

Hi, Newby,

Other than the inflation protection, are there any advantages that pre-need has over FE?

Thuban

They have MUCH better death protection for people who aren't healthy. I just gave a pre-need quote to a mother for her 30-year old daughter who has brain cancer and is under hospice care. She can pay $93 monthly and have $3,500 coverage in 6-months, $7,000 in 12-months and $10,000+ policy growth in 24 months.

For people who need a graded policy it is a huge advantage especially if they are likely to die in the first two years.

For people who want to pay their policy off in full in a short period of time, the pre-need policy is more attractive to them. For people who want the lowest monthly payment over their lifetime, the FE is better.

 

[thuban]

Newby,

So, for a FE guy, would it be best to share the preneed advantages with a person like you described? To me, it is obviously the right thing to do, and I would have no problem giving up a commission under those circumstances.

Or, although I doubt I'd want to, would I be able to sell them a preneed, and, if so, what would it take to do that?

Or, should I try to connect with a local preneed guy in advance, to #1, make as sure as I can that they'd be well taken care of, and #2 actually earn a referral fee?

Or, best of all, could I refer them to you and get you to buy me lunch someday?

Thuban

 

[Newby]

I think all FE agents would be smart to have a Preneed agent the refer cases back and forth with.
Families that have seriously ill members would benefit knowing their Preneed options.
Preneed agents can refer plenty of cases to an FE agent of people who want to preplan and just can't afford to.
I would be happy to work with you on the case depending on which state you are in.