Is FE in Clients Best Interest?

[entrep1776]

I'm researching selling FE.

FE insurance seems like kind of a ripoff for clients. Especially if client can get term life insurance. Term just seems much cheaper.

I would like to sell FE insurance because commissions are so good. If it was a family member, I would try to get them to buy/do something different besides FE insurance.

I'm maybe missing something basic. Any philosophy or advice/insight appreciated.

 

[goillini52]

I'm researching selling FE.

FE insurance seems like kind of a ripoff for clients. Especially if client can get term life insurance. Term just seems much cheaper.

I would like to sell FE insurance because commissions are so good. If it was a family member, I would try to get them to buy/do something different besides FE insurance.

I'm maybe missing something basic. Any philosophy or advice/insight appreciated.

FE is Simplified Issue and for those that can't qualify for term or fully underwritten policies.

If you don't believe in it, you sure as hell shouldn't sell it!

 

[Rearden]

I'm researching selling FE.

FE insurance seems like kind of a ripoff for clients. Especially if client can get term life insurance. Term just seems much cheaper.

I would like to sell FE insurance because commissions are so good. If it was a family member, I would try to get them to buy/do something different besides FE insurance.

I'm maybe missing something basic. Any philosophy or advice/insight appreciated.

To understand final expense, you have to understand the prospect first and foremost.

Most have poor health, low income, and behaviorally are operating in a short window of opportunity, typically being open-minded towards buying a product they have procrastinated about for years.

One needs the flexibility of simplified issue products that accept all sorts of health issues, in combination with a product that approves on the spot to maximize effectiveness in selling final expense.

This isn't always the case. There are circumstances where using a non-med and more traditional product is warranted. But this is the exception to the rule, as the final expense "market" does not typically fit that profile.

 

[VolAgent]

First you need to open your mind.

If you can't find a reason that an ethical agent would sell it and a rational buyer would purchase it, then don't sell it.

Also, you really didn't open your mind if you can't find a reason.

 

[Newby]

I'm researching selling FE.

FE insurance seems like kind of a ripoff for clients. Especially if client can get term life insurance. Term just seems much cheaper.

I would like to sell FE insurance because commissions are so good. If it was a family member, I would try to get them to buy/do something different besides FE insurance.

I'm maybe missing something basic. Any philosophy or advice/insight appreciated.

FE is sold mainly to cover funerals. That's not going away during their lifetime. So term would be the wrong product for the case.

Fully underwritten WL would make sense if they qualify.

 

[Bcrane0305]

I'm researching selling FE.

FE insurance seems like kind of a ripoff for clients. Especially if client can get term life insurance. Term just seems much cheaper.

I would like to sell FE insurance because commissions are so good. If it was a family member, I would try to get them to buy/do something different besides FE insurance.

I'm maybe missing something basic. Any philosophy or advice/insight appreciated.

These people who get into FE because they want to help people or like the commissions are doomed to fail... if you have very thick skin and have a positive attitude no matter what then maybe you can make it in FE. It's a ton of miles on car,(or calls) a ton of rejections and a lot of nsfs, ntos and heavy objections/smoke screens from let's just say the bottom of the barrel population; not all, but most. btw final expense is good for sick people and bad for healthy people. It starts making sense when high weight, diabetes . For example settlers gold is a literal scam but Gerber/ Mutual of Omaha guaranteed can be too good to be true if very sick.

 

[jdeasy]

I'm researching selling FE.

FE insurance seems like kind of a ripoff for clients. Especially if client can get term life insurance. Term just seems much cheaper.

I would like to sell FE insurance because commissions are so good. If it was a family member, I would try to get them to buy/do something different besides FE insurance.

I'm maybe missing something basic. Any philosophy or advice/insight appreciated.

I refuse to sell term for funeral expenses, {FE}, so I obviously believe that selling term for that would be a rip off.

If I thought that selling whole life is a rip off then I would not sell it.

Now, if the person knew they were going to die in 7 or 8 years then I would have no problem selling them a 10 year term. But since they know, why not just not do anything until just before the time they know they are going to die?

 

[bboman23]

These people who get into FE because they want to help people or like the commissions are doomed to fail... if you have very thick skin and have a positive attitude no matter what then maybe you can make it in FE. It's a ton of miles on car,(or calls) a ton of rejections and a lot of nsfs, ntos and heavy objections/smoke screens from let's just say the bottom of the barrel population; not all, but most. btw final expense is good for sick people and bad for healthy people. It starts making sense when high weight, diabetes . For example settlers gold is a literal scam but Gerber/ Mutual of Omaha guaranteed can be too good to be true if very sick.

Your posts are impossible to understand.

 

[goillini52]

Your posts are impossible to understand.

That's because Brian's always drunk....since his 1st day on the Forum.

 

[entrep1776]

To understand final expense, you have to understand the prospect first and foremost.

Most have poor health, low income, and behaviorally are operating in a short window of opportunity, typically being open-minded towards buying a product they have procrastinated about for years.

One needs the flexibility of simplified issue products that accept all sorts of health issues, in combination with a product that approves on the spot to maximize effectiveness in selling final expense.

I appreciate your input. What would typical prospect look like?

I found article on Bankrate. I'd post link but not able to do that yet. article:

Should you pass on burial insurance?
Instead of buying burial insurance, Hunter recommends trying to purchase an underwritten term life policy. He recently worked with a woman, who, for the same premium as a $5,000 burial policy, was able to acquire a 20-year term life policy with $75,000 in coverage.
bankrate.com/finance/insurance/pass-burial-insurance.aspx#ixzz4UFcTqVrg