GI Final Expense sold Exclusively on the phone?
- Thread starter myinsurebiz
- Start date
- Thread starter
- #23
- 5,932
rlg -
I'm (was) marketing Senior Life.
But - walked into the office yesterday (Thursday) to pick up some apps and make a few calls - and another client canceled their Initial Withdrawal for $80.93 a month. Had another one go NSF last week.
The problem is the high rates. Better rates are available from Americo and others - just can't do it on the phone.
Made the decision last night to go head first into worksite / employer IFP type products. I have some competitive products and after a brief test run - the product can be sold via phone / web - which is where we want to be.
I'm done with Final Expense as a mainstay. The only good thing about SL in my opinion is they don't do a medical exam and can be done over the phone - easy issue type stuff. But - I just can't seem to get it to stick. Others have the same lack of persistency as I - and there are some that do well with it - just not for me. Plus - they don't pay squat @ SL.
I'm gonna hook up with Americo and Baltimore Life just to have a decent whole life product in our bag.
Tom
p.s. - Pensacola Mutual is a privately held group that is forming to market FE in the western states.
I'm (was) marketing Senior Life.
But - walked into the office yesterday (Thursday) to pick up some apps and make a few calls - and another client canceled their Initial Withdrawal for $80.93 a month. Had another one go NSF last week.
The problem is the high rates. Better rates are available from Americo and others - just can't do it on the phone.
Made the decision last night to go head first into worksite / employer IFP type products. I have some competitive products and after a brief test run - the product can be sold via phone / web - which is where we want to be.
I'm done with Final Expense as a mainstay. The only good thing about SL in my opinion is they don't do a medical exam and can be done over the phone - easy issue type stuff. But - I just can't seem to get it to stick. Others have the same lack of persistency as I - and there are some that do well with it - just not for me. Plus - they don't pay squat @ SL.
I'm gonna hook up with Americo and Baltimore Life just to have a decent whole life product in our bag.
Tom
p.s. - Pensacola Mutual is a privately held group that is forming to market FE in the western states.
- 18,984
I write Lincoln Heritage FE and they tell me that it cannot be done over the phone unless it's modified{graded}, and, even then they want a "wet" signature.
lavvygirl
New Member
- 6
- 1,310
Foresters now allows telephone signatures for their PlanRight final expense plan. The rates are better than Baltimore Life and WAY better than Senior Life/LH. Foresters pays better commissions, too, and issues the policies in 24-48 hours with daily pay by direct deposit.
Their telephone signature option is (as of today) available in:
- Alabama
- Arkansas
- Georgia
- Mississippi
- North Carolina
- Tennessee
- Texas
They do not have a true guaranteed issue policy, but go to Table 20 with their modified plan and have no problem with diabetics at all. It's the perfect add-on sale for med supps, I can tell ya..
What do you mean by this -
"They do not have a true guaranteed issue policy, but go to Table 20 with their modified plan and have no problem with diabetics at al"
- 1,310
I mean that they do not have a GI policy but go up to as high as table 20 with their Modified plan. They also accept diabetics without a problem.
