Help Replacing NYL AARP

[Tahoe Ray]

At his age? Per the post, he is a healthy 70 year old. Now the small face may say FE but his age does not. I. Have met more successful 70 year olds than successful 40 year olds.

X2...no meds at this age could easily be preferred. I see them frequently.

Personally, I would much rather pay 50% more for certainty (knowing that I will die) than a cheaper possibility (that I might die before age 80).

And I would like to have that certainty while paying as little as possible.

Fully underwritten is the way to go.

 

[Newby]

Cold calling from a list. Guy says he's got plenty of life insurance for him and his wife. I ask who it's with. When he told me I said its probably term. (I picked up that nugget of knowledge here on the forum) He went on a little rant saying term is crap and he would never pay for that. I told him to do himself a favor and check his policy to make sure and call me back if he needed help or advice.

Sure enough, he calls me back today confirming its term and runs out at 80. He asked how much whole life will cost so I ran a quote on the phone (I know I'll get scolded by the veterans for that).

He's paying $105 a month for the NYL $20k term for both of them. I quoted $10k whole life with Five Star for $115 for both of them.

I did set the appointment, but he is confused as to what to do. He said "I'll be paying a little more for half as much. But it is whole life instead of term. I just don't know?"

He is 70. Wife is 66. NT and no meds. Could I get some advice as how to handle this case when I get in the home Friday morning?

This is why you need to be face to face when you give him the rates. You have to correct his thinking.

He is only able to pay the same amount and get twice as much if he agrees to do one key thing...he has to die by age 75. If he lives longer than that, he has to pay much more to keep it to 80. If he doesn't die by 80 he pays the same amount and gets ZERO.

If you will agree to those terms Mr. Smith, let's forget comparing whole-life plans and get you the best rate out there that will cover you for 10-years only. You don't even have a good price on that.

 

[smokin goose]

The other problem is that you dared to cold call final expense prospects.

Don't you know that's banned around these parts?

Lol. I know.

Seriously, though. I figure I need to get more experience in the senior market before I start buying dm leads. I thinks it's better than having a bunch of leads I spent money on and not knowing what to do with them.

 

[Newby]

Lol. I know.

Seriously, though. I figure I need to get more experience in the senior market before I start buying dm leads. I thinks it's better than having a bunch of leads I spent money on and not knowing what to do with them.

You can read all sorts of "How to" books about sex. But at some point you just have to get out there and meet a girl.

 

[jdeasy]

The other problem is that you dared to cold call final expense prospects.

Don't you know that's banned around these parts?

Seems like a bit of over reaction. Who moved your cheese?

 

[WinoBlues]

The other problem is that you dared to cold call final expense prospects.

Don't you know that's banned around these parts?

.

It is OK Mabel connected the call through the partyline.

 

[TDFnCali]

Cold calling from a list. Guy says he's got plenty of life insurance for him and his wife. I ask who it's with. When he told me I said its probably term. (I picked up that nugget of knowledge here on the forum) He went on a little rant saying term is crap and he would never pay for that. I told him to do himself a favor and check his policy to make sure and call me back if he needed help or advice.

Sure enough, he calls me back today confirming its term and runs out at 80. He asked how much whole life will cost so I ran a quote on the phone (I know I'll get scolded by the veterans for that).

He's paying $105 a month for the NYL $20k term for both of them. I quoted $10k whole life with Five Star for $115 for both of them.

I did set the appointment, but he is confused as to what to do. He said "I'll be paying a little more for half as much. But it is whole life instead of term. I just don't know?"

He is 70. Wife is 66. NT and no meds. Could I get some advice as how to handle this case when I get in the home Friday morning?

I know this a totally off the wall approach, but it relates to our clients, most play the lottery. So whenever I get a case like this, if traditional methods & common sense doesnt seem to be working, I go with this approach....

"Mrs Smith, you're familiar with the lottery & how it works right? (I dont ask do they play, just in case they dont)" After he/she acknowledges I say "So lets suppose u have a winning 20k lotto tix (I usually use the amt of the WL in consideration) and u went to cash it in & they said 'Congrats u won 20k guaranteed, but if u would like to spin the wheel, u can win 30K (size of term) but u take the chance of losing it ALL...which would u like, 20k guaranteed or a chance for 30k or nothing?'" Then I say, "Which one would u take Mr Smith?" 90-95% say the guarantee, I had a few that said they would take a chance for all or nothing....but every single one (so far) that DIDNT take the chance, took my WL instead of the term.

My 3cents!

 

[smokin goose]

I know this a totally off the wall approach, but it relates to our clients, most play the lottery. So whenever I get a case like this, if traditional methods & common sense doesnt seem to be working, I go with this approach....

"Mrs Smith, you're familiar with the lottery & how it works right? (I dont ask do they play, just in case they dont)" After he/she acknowledges I say "So lets suppose u have a winning 20k lotto tix (I usually use the amt of the WL in consideration) and u went to cash it in & they said 'Congrats u won 20k guaranteed, but if u would like to spin the wheel, u can win 30K (size of term) but u take the chance of losing it ALL...which would u like, 20k guaranteed or a chance for 30k or nothing?'" Then I say, "Which one would u take Mr Smith?" 90-95% say the guarantee, I had a few that said they would take a chance for all or nothing....but every single one (so far) that DIDNT take the chance, took my WL instead of the term.

My 3cents!

That's a good analogy. Thanks. I like it.

 

[WinoBlues]

This is why you need to be face to face when you give him the rates. You have to correct his thinking.

He is only able to pay the same amount and get twice as much if he agrees to do one key thing...he has to die by age 75. If he lives longer than that, he has to pay much more to keep it to 80. If he doesn't die by 80 he pays the same amount and gets ZERO.

If you will agree to those terms Mr. Smith, let's forget comparing whole-life plans and get you the best rate out there that will cover you for 10-years only. You don't even have a good price on that.

I do about the same just in reverse order. I show them I have a better Apple, them show them how an Orange is a better option. Even if they decide to stay with Apples I have poisoned the other guys Apple. Same end result. Just shows that there are many ways to do what we do.

Lee

 

[smokin goose]

You can read all sorts of "How to" books about sex. But at some point you just have to get out there and meet a girl.

I'm running life and FE appointments from cold calling and my warm market so I'm still having sex, I'm just not paying for it yet. :-)

Here's an analogy. When I used to waterfowl hunt I started off with cheap plastic calls. Once I became familiar with those I moved up to the top end calls which are very expensive. At that point I knew how to use them effectively.

I've seen guys new to waterfowling show up with $500 worth of calls around their neck, but didn't have a clue what to do with them.