FE Whole Life Cash Values

[padthaiforlunch]

I seriously doubt anyone is buying FE WL for the cash value. They are buying it for the guaranteed death benefit. Find out what is important and focus on that.

Some Bankers Life agents stress the cash value as a way to tie down the policy. Of course, the savings by switching tend to be greater than the cv.

 

[WinoBlues]

Thank you. I was thinking about getting some door hangers to leave at the not at homes but I have heard on not so good success with these. I would like to anyway and then come back and do a follow up with the not at homes.

I have realized I'm missing the boat by not getting referrals like I should be. I need to stay in contact better with existing clients as well. Stay fresh in their mind so to speak.

We go on our first med sup appointment Monday (mine anyway not the other agent) so I'm excited about that as well. Going from 900 bucks a month to 280. I should find some money there for cross sales. Maybe an annuity!

You just gave me an idea. My buddy has sold quite a few terms, a couple of hundred. I need to contact those beneficiaries. He's letting me help him with his book as he plans on retiring and handing it over to me.

That term book is money. You can not buy leads like that. Money, Money Money.

Edit: you can get magnats for your cards on Ebay cheap. Got that tip on this forum.

 

[ActingBoss]

1. It's exactly what it says it is, guaranteed cash value.

2. For the client, they can borrow against it. They can surrender the policy and receive the cash. They can use it to pay the premiums if they get in a rough spot and can't pay make their payments.

3. The negative is that, if they borrow against it and pass away before they repay it, the death benefit is reduced. If they surrender the policy to get the cash value, they no longer have the life insurance.

As for showing the cash value to clients, I don't unless they specifically ask for a breakdown. That happens maybe once or twice a year.

Agreed.

If someone's asking about GCVs on FE policies, they're either asking about the wrong product, or the delivery is wrong, or.............something.....but GCVs on FE policies are negligible, and I dont show them, wouldnt even if they asked.

 

[Todd King]

Most of the time when clients have ask me about CV in a policy, the way they ask it is, "Is this that type insurance the has that cash value in it?". I say, "Yes, it does build cash value." They say, "Good, I don't want the one that doesn't."

Of course they are really saying, "I don't want that one that will run out on you". (Term).