How soon can I get a policy issued?

[titeye]

But what do they do with all those premiums we pay? I have never had a claim yet & my cousin's sisters great aunt had her claim not get paid because she let it lapse after paying for over 5 years, so it is pure corporate greed profit.....legalized racket.

I think it has more to do with the demographic agents target. For example, the affluent population is not the market for simplified issue whole life or FE. They understand that they have to protect the estate they have built from unnecessary taxes. They also understand that life insurance is a very effective estate planning tool and are willing pay $10,000 per year in premiums for $1mil + of coverage. In a nutshell, they are educated.
The FE market is impoverished and uneducated, for the most part. Many of them would be classified as illiterate. Big difference in the thought process depending on whom we serve.

 

[jdeasy]

I think it has more to do with the demographic agents target. For example, the affluent population is not the market for simplified issue whole life or FE. They understand that they have to protect the estate they have built from unnecessary taxes. They also understand that life insurance is a very effective estate planning tool and are willing pay $10,000 per year in premiums for $1mil + of coverage. In a nutshell, they are educated.
The FE market is impoverished and uneducated, for the most part. Many of them would be classified as illiterate. Big difference in the thought process depending on whom we serve.

True dat!!

 

[WinoBlues]

I think it has more to do with the demographic agents target. For example, the affluent population is not the market for simplified issue whole life or FE. They understand that they have to protect the estate they have built from unnecessary taxes. They also understand that life insurance is a very effective estate planning tool and are willing pay $10,000 per year in premiums for $1mil + of coverage. In a nutshell, they are educated.
The FE market is impoverished and uneducated, for the most part. Many of them would be classified as illiterate. Big difference in the thought process depending on whom we serve.

10x10

Caveat- stacking SIWL can fill a need / want in the traditional arena.

 

[ehall2]

The affluent can sometimes be the most difficult. I have had them say, "the government isn't going to let me go without nursing home coverage. Also, I have medicare.

 

[marindependent]

How many times have you heard “ That’s why insurance is such a racket. They won’t sell it to you when you need it. “

I just had someone call me for flood insurance and their house was currently flooded. Yah that is not going to work.

 

[goillini52]

I just had someone call me for flood insurance and their house was currently flooded. Yah that is not going to work.

Can't you back date the application?

 

[Allen Trent]

Can't you back date the application?

If that was allowed, there would be a flood of applications.................................you get it, flood of flood applications. amuse myself

 

[Tahoe Ray]

The affluent can sometimes be the most difficult. I have had them say, "the government isn't going to let me go without nursing home coverage. Also, I have medicare.

Well, that's true at a certain point.

You don't need private disability insurance either. Just go broke since you can't work and go on government assistance.

Nobody said that the quality of life would be the same, just that the government (meaning you and I) will pick up the tab, eventually.

 

[jdeasy]

Well, that's true at a certain point.

You don't need private disability insurance either. Just go broke since you can't work and go on government assistance.

Nobody said that the quality of life would be the same, just that the government (meaning you and I) will pick up the tab, eventually.

Reminds me of a guy from my horse showing days.

Really good horseman. Made his living on prize money. Lived out of his rig with his horses. He had a small home in farmersburg, In for a base but was rarely home.

3 or 4 time world champion. Did a little horse shoeing to pick up entry money.

Hunted a little gingseng too. And turtles. He had a market somewhere for turtles. He even had a turtle dog.

We were all sitting around at a horse show taking about everything when talk turned to this guy. Somebody said to him, “Rick, what are you going to do when you get older and can’t live on the road and support yourself with winnings? You’re not always going to be like this. What if you get hurt?”

He was just dumbfounded at the question. He just looked up and said, “this is America!! They have programs for people like me!!”


And he was right. He started drawing SS at age 62 and couldn’t believe they sent him a check every month. Then when he got Medicare he was a pig in slop. Never had medical insurance before.

He was rich!!

 

[Allen Trent]

Reminds me of a guy from my horse showing days.

Really good horseman. Made his living on prize money. Lived out of his rig with his horses. He had a small home in farmersburg, In for a base but was rarely home.

3 or 4 time world champion. Did a little horse shoeing to pick up entry money.

Hunted a little gingseng too. And turtles. He had a market somewhere for turtles. He even had a turtle dog.

We were all sitting around at a horse show taking about everything when talk turned to this guy. Somebody said to him, “Rick, what are you going to do when you get older and can’t live on the road and support yourself with winnings? You’re not always going to be like this. What if you get hurt?”

He was just dumbfounded at the question. He just looked up and said, “this is America!! They have programs for people like me!!”


And he was right. He started drawing SS at age 62 and couldn’t believe they sent him a check every month. Then when he got Medicare he was a pig in slop. Never had medical insurance before.

He was rich!!

I heard banjo music the entire time I read this for some reason..............BTW, he must have had legitimate tax paying job at some point if he earned enough quarters of credit for SS & medicare. Otherwise, he would to be on some form of welfare programs of Medicaid, etc