- 24,978
Guaranteed Issue for Ages 0-50
- Thread starter JohnStamper
- Start date
- 4,688
I write with a carrier that has a Guarantee Issue whole life plan with zero health questions and for ages 0-85! Max. face is 10k, 110% return of premium 1st 3 years. Ages 0-85 can NOT be turned down. Acc. death starts date policy is issued.
Example: 5 yr. old boy with aids, on dialysis, and legs amputated due to circulation can get $10k for $38.35 per month.
This plan is available in the following states:
MA, PA, NC, SC, GA, AL, MS, TN, KY, WV, MICH, IN, Il, MN, MO, AR, LA, TX, OK, KS, NE, ND, MT, CO, NM, AZ, UT, ID, OR, NV, CA, AK, MD, DE, and DC.
FYC is not great, only 52.5%. But 52.5% is better than having to walk away with nothing.
If anyone needs a contract call me 252-292-3350....Greg
- 24,978
Can an agent write only that plan and not get termed?
- 29,492
Wow, that poor little boy! To have to go through all of that by 5 years old.
What company is this with Greg?
- 3,764
Greg forgot to mention that senior life is docking all commissions of you don't enroll people in the legacy program.
Can you imagine selling a company who will take 25 percent off your commission just because someone doesn't want to be enrolled in something???
- 4,688
I guess so, haven't heard any comments on this. Even though the Guarantee Issue would be helpful for ages starting at zero, you'd probably benefit more on insulin dependent diabetics younger than 50. You could take a 5 year old insulin dependent diabetic and as long as they don't have anything else wrong they can get immediate coverage at preferred rates.
- 29,492
- 4,688
25% figure is wrong. LEGACY-ASSURANCE IS A SEPARATE COMPANY FROM SENIOR LIFE INS. CO. New customers are excited and like the Legacy plan. The reason is because the new customer can get their casket, vault, and monument locked in place for $3500 even though today's cost at a funeral home can range from $6k - $7k for the same merchandise. $2500-$3500 savings on their funeral TODAY when they sign up. Even for plans with a waiting period. That right there is a bump in your closing %.
Even if Ms. Jones passes away 30 years down the road her casket, vault, and monument will still be $3500 while the funeral home may be charging $15k+ at that time. Ms. Jones also gets a catalog, membership card laminated in plastic, toll free number to call if needed, and the web address where they have a selection of over 225 different caskets to pick from. Another bump in your closing %.
We just tell Ms. Jones that using the Legacy plan will save her family a lot of money on the casket, vault, and monument which means more money will be left for her family to have for their own personal lives. We also remind Ms. Jones that this way there is no arguing at her time of death....no one child saying let's get momma this casket here and another child saying no let's get her that other casket over there, etc. There's also no guesswork which casket and monument to get because momma has already picked out what she wants and that's whats going to be shipped to the funeral home the next day.
Probably in 10 years when the cost of raw goods is higher, new customers at that time would be able to have their casket, vault, and monument locked in for $4k rather than $3500? There is so much mark up on caskets at the funeral home it's ridiculous. They've had a monopoly for years. Now you can get a casket at Costco for like $995.
You know how sometimes you'll have a prospect so close to buying but for some reason they just won't commit to buying? This Legacy plan will get some of these knuckleheads to go ahead and enroll. Those extra 1-2 sales per week is usually the difference between an agent staying in the biz versus washing out.
And the persistancy is much better. Ms. Jones is more engaged and involved with her funeral and her insurance. If someone comes along trying to replace with a cheaper premium Ms. Jones is most like to say "no thanks, I've already got my stuff picked out and I'm not changing anything".
Some of the regular recruiters up here, you know...the ones who spend more time up here rather than making presentations, will be bashing this thread because they don't have anything close to this to offer their agents. Some of them will be afraid they may lose some of their agents to this opportunity and will be criticizing from all angles. My thoughts....if you don't think this plan will help your clients then don't sign up.
For everyone else feel free to call me 252-292-3350 anytime 8am-8pm e.s.t. Contract levels depend on you or your team's production.
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That's not unique to Senior Life.
HMMMMM..........Never said it was.
I won't be up here anymore arguing with the naysayers because I've said all I need to say. If you don't like it don't sign up. If you do like it call me @252-292-3350.
- 29,492
HMMMMM..........You kind of insinuated that it was(that's why I made that comment).
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