How to Have Faith in Final Expense?

[Norwayguy]

Take your wife/girlfriend on a weekend getaway. You just need a vacation. Yes FE clients could have put, 50 a month away, but, history shows they didn't, and won't!

Otherwise they wouldn't be 50+ year old FE prospects.

 

[rousemark]

I've been helping folks find final expense policies since October of 2012. The first 4 months were stellar, but it seems over the last 2 months that my faith in this industry has dropped off substantially. I am having a hard time believing in the products that I am selling to my clients.

The problems I am having is that most of my clients are in decent health, and will probably outlive the policies, ending up paying in more than what they policy is worth. I know that insurance is to protect people from dying too young, but it is really hard for me to play on the emotions of these folks, getting them to buy something that I probably wouldn't sell to my own mother or grandmother.

Is there some aspect of this side of the industry that I am missing out on? When I had faith I was consistently writing $3500 a/p a week off 20 leads, and it felt like a game to me. As my compassion has started getting to me, I've written, literally, $4000 a/p in the last 6 weeks.

If I could sell 10-pay policies all day, I'd be in heaven, but, they are few and far between for me, it seems.

For you veterans, is this something you have faced? Is there something I am not seeing, that could help me regain the faith I once had? This is my first true sales job, so I didn't really know what I was getting into, but as I continue on the debt, and chargebacks, are piling up, making me nervous about he whole deal.

Anyone got some advice for a newbie?

I am an old guy.. almost 69 and I would hope I live long enough to pay more into my plan than my family will collect. However, if I don't then nobody is going to have to dig into their savings or go borrow money they can't really afford to pay back just to pay my final expenses. And even if I do pay in more than the face, at least the face amount is still there to pay my final expenses.. If I were not paying for the insurance, I would probably blow the money on something (eating out, etc.) and when the time came, no matter if it is sooner or later, there would be no money for my final expenses.

Beleive me, when you see a widow or widower with tears running down their face, expressing their gratitude to you, saying they don't know what they would have done without the insurance, you will believe in your product.

At claim time, I have never had anyone ask me what type of insurance the client had or how much they had paid into it. All they want to know is how much coverage is available and will it pay.

Oh, BTW.. I made the stupid mistake of depending on term for most of my life.. I not only would sell FE to my mother and grandmother if they were still alive and did not have enough coverage to guarantee the final expenses would be paid, I sold it to myself and to my wife.

 

[TwiLight]

FE is not descriptive of the product. FE is about the market. Failing to understand that difference is failing at FE.

Excellent points JD....

FE is descriptive of a Market (50-80).....The Agent needs to incorporate fully underwritten products into his offering.

The problem is Agents believe that fully underwritten products start at $25k of insurance....Like RNA's plan.

For competitive WL plans below $25k they just need to add an additional product with good benefits that can be used to accelerate the premium length or to simply reduce the annual premiums. EX: Lafayette Life (Par WL) is excellent for serving a client in good health for less than $25k.

Basically there are many companies out there that offer well priced Full underwriting for under $25k. The agent just needs to look at them and pick one to ease his conscience.

It's too bad his upline or IMO has not been able to help, if he has even gone there yet?

 

[rousemark]

I'll put in my two cents. This "NEW MEMBER" or whoever he is is making a posting that makes absolutely no sense. Plus he has no concept of the intent of insurance. If you have a problem with FE/ you must love the concept of term insurance. This is America pal, you take the money and run. If you have a problem with that move to Nigeria or you're either an *** or a bogus poster creating drama on a forum, and I personally believe the latter. Also how are your clients outliving policies that pay off at the age of 121?

A little harsh, don't you think?

 

[moonlightandmargaritas]

A little harsh, don't you think?

I agree Louis. Seems like somebody peed in his Corn Flakes this morning or something.

 

[rousemark]

I agree Louis. Seems like somebody peed in his Corn Flakes this morning or something.

Yeah.. I hate it when my Corn Flakes are soggy before I even have a chance to pour milk on them..

 

[Synuh]

Rearden, JimmyUT, captain94 Thank you for the honesty. It makes sense, Jimmy.

Donamese, I took the time last night to do some reading.

Quack, the people I see, like someone else said, aren't on my lead list because they are known for saving money.

Thank you for the words, GMDM. I haven't had a claim yet.

b61, we've got one planned in June.

JD, the IMO I'm with has supplied the info and training for FE. Any fully underwritten we get has to go back to them, and we never see it once it's past that point. I've turned in 8 of them and can't get any info on any of the clients, whether they were taken or refused.

MattNewbie, keep the change.

Thank you JD. I've built up the misconception that I'm selling burial plans, not insurance.

Rouse, those comments from you, and others, are helping to get the fire back that I had when I started. When I began I knew people needed what I was offering, and had no problem helping them buy it. It may be greed, compassion, or any other emotion but I got to where I didn't feel like they really needed it, but on their family's darkest days, like someone else said, I've got the check when everyone else has a bill.

TwiLight, I've been to my upline. I don't use an appointment setter, so according to her "I'm not following the system" so I get impersonal one liners to get me off the phone. Sad state, but I've had it in my head for the last 6 months that I have to go at this as an indy agent on a captive commission level because of dealing with her.

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Thank you all for the advice, and reminding me why I felt the way about this industry before I even got started in it. These people do need my help. I hope this hasn't come off as drama, like Matt implied. I can't get much help from my upline, so I came here looking for it, like any independent agent would do. I am glad that the majority of you were able to offer up some advice, and hope I can contribute here some day.

I'll tighten my boot straps and get back to helping clients instead of thinking I know what is best for their long term needs.

 

[b61mack]

MattNewbie, make Big Red, sound mellow!

 

[VolAgent]

Yeah.. I hate it when my Corn Flakes are soggy before I even have a chance to pour milk on them..

Try beer next time. You won't be so concerned if they are soggy.

 

[captain94]

Rearden, JimmyUT, captain94 Thank you for the honesty. It makes sense, Jimmy.

Donamese, I took the time last night to do some reading.

Quack, the people I see, like someone else said, aren't on my lead list because they are known for saving money.

Thank you for the words, GMDM. I haven't had a claim yet.

b61, we've got one planned in June.

JD, the IMO I'm with has supplied the info and training for FE. Any fully underwritten we get has to go back to them, and we never see it once it's past that point. I've turned in 8 of them and can't get any info on any of the clients, whether they were taken or refused.

MattNewbie, keep the change.

Thank you JD. I've built up the misconception that I'm selling burial plans, not insurance.

Rouse, those comments from you, and others, are helping to get the fire back that I had when I started. When I began I knew people needed what I was offering, and had no problem helping them buy it. It may be greed, compassion, or any other emotion but I got to where I didn't feel like they really needed it, but on their family's darkest days, like someone else said, I've got the check when everyone else has a bill.

TwiLight, I've been to my upline. I don't use an appointment setter, so according to her "I'm not following the system" so I get impersonal one liners to get me off the phone. Sad state, but I've had it in my head for the last 6 months that I have to go at this as an indy agent on a captive commission level because of dealing with her.

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Thank you all for the advice, and reminding me why I felt the way about this industry before I even got started in it. These people do need my help. I hope this hasn't come off as drama, like Matt implied. I can't get much help from my upline, so I came here looking for it, like any independent agent would do. I am glad that the majority of you were able to offer up some advice, and hope I can contribute here some day.

I'll tighten my boot straps and get back to helping clients instead of thinking I know what is best for their long term needs.

Something doesn't sound right on you fully underwritten plan. You should be able to see all the business you submit on you agent website with each carrier