Frustrated Life Agent - Help Needed

[HomeService]

Yeah, that is one heck of a sendoff... maybe they are from New Orleans and they have that jazz band deal where they march down the street? But I would have trouble spending 100K on a band... { again, not doubting, not poking fun... just trying to wrap all this around my brain...}

 

[AtlantaLife&Health]

What type of funeral are these folks having? Sound more like a fancy wedding to me. Where are you finding these folks anyway? You can tell us. None of us are in your zip code.

 

[moonlightandmargaritas]

What type of funeral are these folks having? Sound more like a fancy wedding to me.

The weddings are UNREAL.

Some years back, a buddy of mine got married to a Louisiana gal in New Awlins. Not sure I've been the same since....

 

[sman]

You can get free quote from this website.
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choose the to age 100 level guaranteed. It will return the age 100 and above.
Let me know if you need any help. [email protected]

Decent quoting tool (slimmed down version of Compulife), but this tool (site) only quotes carriers this agency is contracted with. It does not include every carrier that will write a UL. Not to say they aren't among the cheapest, but there are others available that aren't listed in this version of the software which means you could short change the client if you rely on this alone.

 

[Newby]

I have only heard of one niche market that does funerals in that price range $50,000 to $100,000 on average.

It was serving a very wealthy asian client base in a California (I think LaJolla if I remember right.) I sat at dinner with the insurance agent that did their preplanning at a ForeThought convention. I could not believe what she was saying but I did confirm it with several people.

It's probably been 10 years ago so they may even be higher now.

The private mausoleums for individual families that are used in New Orleans can often run $50,000 to $250,000. I'm told they are usually purchased with a 15 to 30 year mortgage just like a house. Once a family purchases one they are used for generation after generation.

In most parts of the country a $10,000 funeral is still considered on the higher end of average but it is not at all unusual for them to run as high as $18,000.

And always remember to allow for inflation. If you sell a policy to a 50-year old today to cover something that is $10,000, that same funeral should cost $20,000 when he is 65, $40,000 when he is 80 and $80,000 when he is age 95. You can roughly figure things to double in price every 15-years from inflation.

 

[Russ]

I have only heard of one niche market that does funerals in that price range $50,000 to $100,000 on average.

It was serving a very wealthy asian client base in a California (I think LaJolla if I remember right.) I sat at dinner with the insurance agent that did their preplanning at a ForeThought convention. I could not believe what she was saying but I did confirm it with several people.

It's probably been 10 years ago so they may even be higher now.

The private mausoleums for individual families that are used in New Orleans can often run $50,000 to $250,000. I'm told they are usually purchased with a 15 to 30 year mortgage just like a house. Once a family purchases one they are used for generation after generation.

In most parts of the country a $10,000 funeral is still considered on the higher end of average but it is not at all unusual for them to run as high as $18,000.

And always remember to allow for inflation. If you sell a policy to a 50-year old today to cover something that is $10,000, that same funeral should cost $20,000 when he is 65, $40,000 when he is 80 and $80,000 when he is age 95. You can roughly figure things to double in price every 15-years from inflation.

You can also get cremated for 1-2 grand and forget the expense of it all.

 

[insurance360]

The only way to penetrate this market is if you can speak their language.....it's an ethnic group from Africa....The mourning of the dead goes for an average of 5 to 7 days.....Funeral expenses include feeding family and friends who come out to pay their respects......it includes breakfast, lunch and dinner....there are much more expenses but you get the idea of what I'm talking about.....

 

[moonlightandmargaritas]

The only way to penetrate this market is if you can speak their language.....it's an ethnic group from Africa....

Amharic?

 

[arnguy]

I think you mean "off" arnguy.

Thanks, Bill. The typo has been duly noted and corrected.

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The private mausoleums for individual families that are used in New Orleans can often run $50,000 to $250,000. I'm told they are usually purchased with a 15 to 30 year mortgage just like a house. Once a family purchases one they are used for generation after generation..

I believe that they use mausoleums in New Orleans because the high water table precludes in ground interment. Furthermore, I have heard they reuse the mausoleum over and over because when the body decays they shovel the bones down into it to prepare for the next occupant.

 

[insuranceexec]

Thanks, Bill. The typo has been duly noted and corrected.



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No problem; just returning the favor.........LOL.