Had One Call to Cancel

[houcoogster]

Maybe a SPWL would have been an option to show them.

Rick

Do what I said and take these quotes with you and show him this as an option. Actually you may want to lead with this.

 

[Justin Bilyj]

Start doing the take-away towards the end, that should help cut down these tire-kickers

 

[Toranaga]

The guy is betting he will live longer than 8 years.

1800 AP over 8 yrs is 14K

Yep. We had that conversation. That's 1800/yr for both of them, BTW. Anyhow, he brought that up.

T: "Yessir, the price over 8 years is 14K, but we can't confuse price with cost. That money comes back to your beneficiary. There is no cost. Only after you have paid in an amount equal to the face amount, do you begin to incur any costs. Does that make sense/
Him: Oh, yeah, I see your point.

 

[tins]

Yep. We had that conversation. That's 1800/yr for both of them, BTW. Anyhow, he brought that up.

T: "Yessir, the price over 8 years is 14K, but we can't confuse price with cost. That money comes back to your beneficiary. There is no cost. Only after you have paid in an amount equal to the face amount, do you begin to incur any costs. Does that make sense/
Him: Oh, yeah, I see your point.

You cannot win them all and seniors are the most stubborn people (outside of Californians) in the world. Once they make up their mind and dig their heels in, there is often no turning them back.
Just let it roll right off your back and move on to the next on. Lots of prospects in the world.

 

[houcoogster]

Yep. We had that conversation. That's 1800/yr for both of them, BTW. Anyhow, he brought that up.

T: "Yessir, the price over 8 years is 14K, but we can't confuse price with cost. That money comes back to your beneficiary. There is no cost. Only after you have paid in an amount equal to the face amount, do you begin to incur any costs. Does that make sense/
Him: Oh, yeah, I see your point.

What is the premium for SPWL on both for $7000 each face?
I'm curious.

 

[GreenSky]

What is the premium for SPWL on both for $7000 each face?
I'm curious.

For the 80 yr old man he gets about a 20% step-up. So he'd deposit about $5,700 (with Balt. Life). She'd need to put up about $5K.

Not a huge increase over the cash he has, but there really is not cost in a 1/2% interest world. I don't know anywhere else where he can get what amounts to 20% or more interest on his money for the purpose he has.

Rick

 

[houcoogster]

For the 80 yr old man he gets about a 20% step-up. So he'd deposit about $5,700 (with Balt. Life). She'd need to put up about $5K.

Not a huge increase over the cash he has, but there really is not cost in a 1/2% interest world. I don't know anywhere else where he can get what amounts to 20% or more interest on his money for the purpose he has.

Rick

That's not bad at all!! So for $10700 he gets $14000 what is there not to like about that?

 

[VolAgent]

That's not bad at all!! So for $10700 he gets $14000 what is there not to like about that?

Gotta have the $10,700 first. I would take with a grain of salt any 80 year old who told me he had 10k sitting in the bank for funeral expenses and was suddenly thinking about buying insurance.

 

[VolAgent]

I agree but the guy said he had the money.

Also, who asked you?

Rick

The OP. All threads here are simply posted to ask for my advice. As selling insurance limits my time here, obviously not a problem for you, I only am able to respond to a select few.

But thank you for asking.

 

[houcoogster]

I agree but the guy said he had the money.

Also, who asked you?

Rick

There could be one other thing we have overlooked here and why they keep talking pre-need.
They might not be able to trust their beneficiary to carry out their wishes. He might let them know they could name a funeral home as the beneficiary and bypass the drugie kids.