Final Expense Recommendations?

[NorCalAgent]

New member here looking to add final expense insurance to my portfolio and seeking carrier recommendations. I've considered Forethought and like their offering but have some reservations.

Does anyone have a recommendation for one or more carriers who:

• Don't require a telephone interview with the buyer.
• Have flexibile premium payment options, including money order. If there's a carrier who would let my customers pay in cash (I pick up), that would be great too, as I've read of FE agents who are apparently able to do this.
• Ideally will sell policies to buyers as young as age 40 (like Forethought), although 50+ is fine.
• Have relatively competitive pricing (of course!).

Thanks in advance for your help.

 

[Chazm]

Why in the world would you want to pick up cash

 

[NorCalAgent]

Hi Chazm,

It's not that important. But I do have some prospective customers who would probably like the ability to drop by and pay or have me pick up payment. I'm in a small community so it's no sweat off my back. Note this is a minor "want". More important is the ability for my customers to send in payment via money order.

 

[theinsuranceman]

Most money order payers have poor persistency. You'll see for yourself after a couple of months.

 

[Newby]

Columbian Life has debit policies which is what you are looking for.

ForeThought is no longer competitive with final expense at all.

Settlers Life is a good one. I would also look at Monumental.

 

[atlantainsguy]

Don't think you'll get everything you want from any one single carrier.

Americo doesn't do regular phone interviews, but then they don't do monthly direct bills either. Lincoln Heritage might do both. Others will reply to that. There are some threads on here about the few companies left who will bill monthly -- but previous post about poor persistency is absolutely correct. Be careful with that issue, especially if you're getting advances.

atlantainsguy

 

[Chazm]

Ive found RNA (royal neighbors of America) to be pretty well priced. Though, they don't offer cash payments.

Also, you will realize very quickly that paying by cash or even monthly check will become a pain in the butt when you get a few clients. The easiest way is EFT

 

[steveadlman]

Colorado Bankers Life at this time does not do phone interviews and either does Liberty Bankers.