Final Expense IMO's for a Beginner

[VolAgent]

“Participate” ....aka lose out on the highs.

Max out all other retirement plans THEN think about an annuity (generally)

That sounds nice and all, but it ignores the humans in the mix. Just like the people Newby was describing earlier, some people simply do not have the risk tolerance for any drop in the market. Trying to force these people into the market is the real disservice.

 

[Todd King]

We’re targeting the same as everyone else. The numbers we’ve found is about 5-6 out of 100 FE prospects end up being annuity prospects. Folks like what Newby was talking about.

I didn’t believe it either. Until I met with a guy that buys all his downlines agent’s FE leads. And in return he passes him the annuity prospects.

And get this, the guy doesn’t even have his FE contracts under him, just the annuity contracts.

Too early to be definitive, but our agents that take 20+ leads weekly and have added annuities are selling $100,000 in annuities each month.

Just gotta ask about it in every house. The ones that have money surprise you 75% of the time.

While I have run across people just like Newby described, it is still a rare occurrence. Nothing that one can count on for sure.

I do believe in asking about other things in every house. I have always done that, which is why I use a needs analysis in EVERY home, not just the ones where I "think" they have money. I've found a lot of money and business this way.

There is no way your agents who take 20 FE leads a week are finding 100K in annuities a month. Of course, maybe you mean when you add up what all of the agents are doing, then I see that as being a possibility, but not 100K for each agent. Not even one agent!

 

[Thedude]

That sounds nice and all, but it ignores the humans in the mix. Just like the people Newby was describing earlier, some people simply do not have the risk tolerance for any drop in the market. Trying to force these people into the market is the real disservice.

Wasn’t trying to force anyone to do anything. Yeah if you don’t like any risk ...don’t be in the market.

 

[KRobby]

That sounds nice and all, but it ignores the humans in the mix. Just like the people Newby was describing earlier, some people simply do not have the risk tolerance for any drop in the market. Trying to force these people into the market is the real disservice.

Risk tolerance shouldn't have anything to do with it. He just said to max out your options within qualified retirement plans first. Nothing about any particular market or how to fund an account. An IRA for example is a home for your investments. If you wanted to fund it all to the max with money market accounts and CDs, you could.

 

[VolAgent]

Risk tolerance shouldn't have anything to do with it. He just said to max out your options within qualified retirement plans first. Nothing about any particular market or how to fund an account. An IRA for example is a home for your investments. If you wanted to fund it all to the max with money market accounts and CDs, you could.

You know what else can go in an IRA? An annuity.

Since the advice was given to do these before an annuity, it would reasonable to assume the advice was also advocating against having an annuity inside an IRA. An annuity inside an IRA can make a lot of sense for the right people.