Former LH Agent Needs Guidance
- Thread starter maness
- Start date
- 17,054
The Funeral Trust just exempts the cash value of the policy from counting as a resource when qualifying for Medicaid. It doesn't change anything else.
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You can irrevocably assign any policy to a funeral home. That is the same as a funeral trust.
Again Newby when a beneficiary comes to a funeral home with a contestable policy and the funeral is $10k does the funeral home demand 100% of the payment up front? Wow that puts the agent in a tough spot. I assure you 99% of beneficiarys will be stunned when the funeral home won't accept it.
- 7,012
It is what is. How is it our fault that the insured waited until less than 2 years from their death to get life insurance??
- 17,054
I absolutely explain that. It actually helps uncover a lot of clean sheeted policies. But I also explain that insurance fraud lasts a lot longer than two years.
Idk, I prefer not only LI companies with best claims paying speed and ability, but also how fast I GET PAID.
I prefer to use both TransAmerica and Assurity. Both have gotten claims paid in a very timely manner, both pay claims in under 60 days--a few times faster than that given that the loved ones doing the claims on their end have followed through with necessary steps.
AND, also important to me is that BOTH companies pay me my commissions in a very timely manner. TransAmerica about 4 days after issue. Assurity-if policy issued by Thursday, I'm always paid the following Tues.
Win/Win So, when I can I use these two, although there are a few others I use for special circumstances. Can't speak for LH, bc I've never used them. I will say though in certain circumstances Assurity is often higher than the rest in my area. Also...they both tend to issue fast when paperwork is in order.
One example is that TransAmerica took the longest on a preferred woman who died 6-8 months after writing the policy....they still paid claim at around the 60 day mark...that one was the longest.
I prefer to use both TransAmerica and Assurity. Both have gotten claims paid in a very timely manner, both pay claims in under 60 days--a few times faster than that given that the loved ones doing the claims on their end have followed through with necessary steps.
AND, also important to me is that BOTH companies pay me my commissions in a very timely manner. TransAmerica about 4 days after issue. Assurity-if policy issued by Thursday, I'm always paid the following Tues.
Win/Win So, when I can I use these two, although there are a few others I use for special circumstances. Can't speak for LH, bc I've never used them. I will say though in certain circumstances Assurity is often higher than the rest in my area. Also...they both tend to issue fast when paperwork is in order.
One example is that TransAmerica took the longest on a preferred woman who died 6-8 months after writing the policy....they still paid claim at around the 60 day mark...that one was the longest.
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- 17,054
If they commit insurance fraud two years ago they still did it. It may be fine with you but many people don't like to be a party to it.
That's were your wrong . It's not fine with me. It never was fine with me. As I've said 100 times I ask the questions and write down what they tell me. I always mention the contestable period . All of these people can go online and by pass the agent completely . Clean sheeters disgust me. But I also know if they lie and it goes 2 yrs it pays .
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