Legacy Assurance and Senior Life

[billyb]

I replaced a $10,000 SL policy with a $15,000 for the same price today. The applicant wanted to know my opinion of Legacy Assurance. I told her I would ask because I wasn't sure if it was worth the cost. Can she keep it as a stand alone product? She thought she was paying an additional $2 monthly for it.

 

[HoosierLife]

Sure can! Cause they'll never cancel it haha!

 

[Stephen Hernandez]

Danger in cancelling a Senior Life/Legacy Assurance plan.
If the Client has already selected a casket and locked in the price at $1500, then cancels policy, It will be a rude awakening, when the Funeral home is taking $3000-6000 of their new insurance policy, to pay for the casket.

Because the casket price they had locked in and had been paid by the Senior Life policy. That benefit is gone. And if they had selected more products to be paid by the Senior Life policy, well you can see the agent wont be very popular and should have a good E&O policy in force.

It's okay to change out the policy, just make sure the client has not already locked in some of the funeral products and if they have, that they KNOW, they will loose that benefit.

 

[Lawsonhj1]

No Danger just hype there are plenty of legit online retailers same service less price for all funeral and cemetery merchandise.

 

[Baseball7]

Legacy assurance it is in NO part in the whole life contract. Hence it has nothing to do with E&O. Go hype your overpriced captive policy somewhere else.