FE Insurance over the phone

[myinsurebiz]

LH does have TeleSales but only through the Thomasville area region. I called them today and that's the deal . . .

However - there is a product that is more affordable and can be done over the phone / net with competitive rates.

Tom

 

[jdeasy]

I am being told no sigs required, here is how it was explained to me by a an agent who sells LH over the phone. They call Mrs Jones and go through the entire phone presentation, ask Mrs Jones if they can record the phone call, "yes" Mrs. Jones said. They do a "three way" phone call with the agent, Mrs Jones, and a underwriter at LH. The Health questions are asked while all 3 are on the phone. The Phone call that was recorded is also, saved to a cd, and sent to LH.

Agent gets paid 6 months on submit, the other three when the policy is issued.

OK. I just got off the phone with LH. Seems we are both right.

There is one agency alone that is allowed to do what you described. They use a 3 way and get an electronic signature. Supposedly, this agency invested in the technology and has an exclusive agreement with LH. They said the only way for me to it would be to drop my contract and then recontract with that agency if they would take me.

They did not want to even let on that this was happening. I first asked if I could use phone apps. and was told no. I had to press them on this issue to get the info that you already had.

I apologise for my earlier post. You knew what you were talking about.

 

[Alston]

Is FE a good market? I'm considering branching out. My son and I are doing health insurance exclusively and are doing pretty well in this market. However, I want to diversify a little and move into life and/or Medigap before the end of the year.

I can generate the leads myself so that isn't an issue. However, I don't want to chase my tail for small dollars and a big lapse rate.

What kind of closing ratio and lapse rate should I expect with FE?

 

[myinsurebiz]

Alston -

I don't even refer to it as FE anymore. The term actually turns people off I've found.

We are now doing health and life.

On the Life - we target small face whole life and term with ROP. We target age 40 to 60 roughly and stay away from old sick people. Heck - if they don't have any coverage at 70 y/o - they will just about "croke" when you tell them the premium.

I hate FE.

But I've found there is a market for 40 - 60. Especially - Overweight, HBP, controlled Diabetic ( no insulin ), etc. Just no real sick ones - heart attack, crones, Hodgkin, etc.

I've fell in love with Term with WOP and ROP.

Tom

 

[Guest]

LH does have TeleSales but only through the Thomasville area region. I called them today and that's the deal . . .

However - there is a product that is more affordable and can be done over the phone / net with competitive rates.

Tom

What product is that Tom?

 

[myinsurebiz]

Fidelity Life and a private label program from GTL.

Smokes LH, SL, etc on small face whole life.

Tom

 

[senior-advisor-indiana]

Alston -

I don't even refer to it as FE anymore. The term actually turns people off I've found.

We are now doing health and life.

On the Life - we target small face whole life and term with ROP. We target age 40 to 60 roughly and stay away from old sick people. Heck - if they don't have any coverage at 70 y/o - they will just about "croke" when you tell them the premium.

I hate FE.


Tom

I have never seen anyone turned off by using the term " final expenses". That is why people want the coverage. Many people buy it in their 70's, I have even sold some to people in their 80's. Most of my sales come from people that are around 65.
I have only been focusing on FE for a few months. I can't believe I haven't done this in the past. I have passed up alot of sales over 5 years because I never brought up the subject to my clients.

 

[myinsurebiz]

You can have it . . .

No offense - but old people are a pain in the ass to try and sell insurance to - JMHO.

60 years max for our targeted data . . .

Tom

I have never seen anyone turned off by using the term " final expenses". That is why people want the coverage. Many people buy it in their 70's, I have even sold some to people in their 80's. Most of my sales come from people that are around 65.
I have only been focusing on FE for a few months. I can't believe I haven't done this in the past. I have passed up alot of sales over 5 years because I never brought up the subject to my clients.