First FE prospect

sbg_ben

Super Genius
215
hello everyone,

I was selling a Medicare supplement last week when someone asked me about burial insurance. She is a pretty healthy 67 year old who answered no to every health question on the med supp app so I figured she would be a good prospect for this. I ran a quote using my FMO and it looks like for $10,000 of coverage United of Omaha was the best price.

I guess I’m just throwing this out here to ask what you wish you knew when you sold your first FE case? Thoughts, opinions and advice appreciated. In the past I have let a few life insurance prospects slip through so I’m determined to sell one this year.
 
I always ask my Medicare leads about their life insurance. Most have all they need, but a few want a quote. In FL the Living Promise policy is very competitive. People recognize Mutual of Omaha. Use them for healthy people and pick up a more aggressive carrier for those with a few issues. I like Assurity for that and they have good tobacco rates too. You could write 95% of your business with 2 carriers.

I am probably going to get some feedback on Assurity, but they are aggressive. They do have a grueling PHI and it takes about a week to get a policy issued. However they take so many impairments level that to me it is worth the trouble.
 
I guess I’m just throwing this out here to ask what you wish you knew when you sold your first FE case?

Everything I know now... :laugh: and a whole bunch more... :yes:

Here is a tid-bit I would pass on to anyone... as you look toward selling FE, start off with no more than 3 carriers...
  1. A go to... good commissions... easy company to work with.
  2. Middle of the road... reasonable commissions... decent rates and generous underwriting.
  3. Guaranteed Issue
Stick to 3 carriers until you have a strong handle on the process and the product... if you add too many carriers to your soup... it leads to indecision and confusion for both you and your clients...

Happy Hunting... :yes:
 
Everything I know now... :laugh: and a whole bunch more... :yes:

Here is a tid-bit I would pass on to anyone... as you look toward selling FE, start off with no more than 3 carriers...
  1. A go to... good commissions... easy company to work with.
  2. Middle of the road... reasonable commissions... decent rates and generous underwriting.
  3. Guaranteed Issue
Stick to 3 carriers until you have a strong handle on the process and the product... if you add too many carriers to your soup... it leads to indecision and confusion for both you and your clients...

Happy Hunting... :yes:
A friend of mine is completely focused on Medicare, but his background is all life insurance. (In fact, he was one of my staff agents at one captive life carrier, and I was one of his agents at another.) Recently he decided he needed to pick up a life carrier for crossover sales. He just wanted one carrier that would handle just about everybody. He settled on United Home Life.
 
I showed her the living promise plan with Mutual of Omaha for $42.66, $10,000 policy. I’m a complete novice at this.. and I’ve contacted some people to get more details.

This type of policy would have a death benefit right away correct? And also do these plans generate any cash value? I assume so because they are whole life
 
I showed her the living promise plan with Mutual of Omaha for $42.66, $10,000 policy. I’m a complete novice at this.. and I’ve contacted some people to get more details.

This type of policy would have a death benefit right away correct? And also do these plans generate any cash value? I assume so because they are whole life


Feel free to call me at 281-536-4220 and I can help you with this case
 
He settled on United Home Life.

United Home Life has a lot going for it, and I do believe I could write 90%+ of my business with them. The modified death benefit in my state (PA) is 30/60/100 and has some cool niches, e.g. Alzheimer's, ALS (must be able to do ADL's still, so early stage Lou Gehrig's Disease, Cancer 12+ months ago. Day one coverage for Schizophrenia/Bipolar (huge for under 50), diabetes with insulin

And I just discovered they have an iGo eApp which might make processing faster as I have been using their paper app for my cases thus far.

Drawbacks (imho):

Modified death benefit Male ends at 71, female at 76.

They are super slow to process and issue policies, even though, with the phone interview, you supposedly "know before you go."

They pay on draft rather than issue. In the coming months this will not be as big a deal for me as it has been. But for the new agent needing cash flow, this is not the ideal.

COPD no oxygen looks like it is modified rather than level, so one would still need Trans or Liberty Bankers Life to get those folks day one level.

It really does seem to be a neat, versatile product.
 
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United Home Life has a lot going for it, and I do believe I could write 90%+ of my business with them. The modified death benefit is 30/70/100 and has some cool niches, e.g. Alzheimer's, ALS (must be able to do ADL's still, so early stage Lou Gehrig's Disease, Cancer 12+ months ago. Day one coverage for Schizophrenia/Bipolar (huge for under 50), diabetes with insulin

And I just discovered they have an iGo eApp which might make processing faster as I have been using their paper app for my cases thus far.

Drawbacks (imho):

Modified death benefit Male ends at 71, female at 76.

They are super slow to process and issue policies, even though, with the phone interview, you supposedly "know before you go."

They pay on draft rather than issue. In the coming months this will not be as big a deal for me as it has been. But for the new agent needing cash flow, this is not the ideal.

COPD no oxygen looks like it is modified rather than level, so one would still need Trans or Liberty Bankers Life to get those folks day one level.

It really does seem to be a neat, versatile product.
We pay our agents on issue with them. Get your upline to switch you to issue.
 
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