Forethought new fe product went thru some application process changes recently. when you took an app over the phone you had to send for a wet signature. Did the changes in the app process change this? Do you still have to send in the mail or is there a voice option now?
Forethought Freedom Fe
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Voice signature is available with some marketers.
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Better question is do you need a separate contract to sell their preneed product? Do you need a funeral director's license to sell preneed or to plan a funeral? Thanks for answering these questions Newby.
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emptyeternity said:
On the med sup/FE products Yes. If you have a contract for one, you can sell both. There is even a dual app in many states.
On their TRUE Preneed products (Encore, Maxima) you DO have to be contracted with a funeral home to sell it. In some states you have to be an actual funeral director to sell it.
BUT they have other products that agents can sell that mimick the Preneed products (GI, increasing benefit, 70% coverage after 12th month on ALL GI multi pays, etc.). The one that has been out for many years is called ForeThought Select. It has single pays AND monthly payments available.
The new product is called ForeThought TrustGuard. It is basically the same as ForeThought Select but adds an estate planning trust or a funeral trust to the product for Medicaid planning. It was released several months ago with ALL the payment options available but has been pulled temporarily to tweak it. When it is re-released (probably in May2012) it is expected to be single pay only.
All of these products are separate contracts. I will be offering contracts on the TrustGuard product when it is released again. I believe the Select product is going to be removed from new sales since TrustGuard will replace it. I don't know that part for sure.
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Newby -- had a prospect that had "not taken" an FE policy I sold her for a Forethought product.
She purchased it through a funeral home -- she said she didn't have to do a phone interview, either.
I know she had a small amount to cover, like $3000-$4000, and she emphasized how much of a fixed income she was on.
Any idea what she might have purchased?
She purchased it through a funeral home -- she said she didn't have to do a phone interview, either.
I know she had a small amount to cover, like $3000-$4000, and she emphasized how much of a fixed income she was on.
Any idea what she might have purchased?
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Reardon said:
There is no phone interview on ANY Preneed products. What would be the point?
Do you have AIDS? Yes. Cancer? Yes. Under hospice care? Yes. CHF? Yes... Approved!
She bought ForeThought Encore. Probably from my buddy George. He sells ForeThought Preneed down your way.
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