Lincoln Heritage

[GMDM100k]

You are simply wrong or not telling the truth. I have woked with LH and I have signed people on the FCGS. I was also conned by LH and the president of the FCGS to beleive it was a good thing.

Once educated I found out differently.

And, check your math. The lady could have saved $17/mo for the same coverage.

Now, the president of the FCGS told me directly, and a room full of people, that they would not help on contestable claims. I know Newby had an LH client at on e of the funeral homes and they had the FCGS on a contestable claim and they would not do anything.

So, I can blieve what the head of the company said and real world experien ce or I can believe a recruiter. I think even you can have an idea as to which way I'm leaning.

And, the FCGS has no leverage to shop the funeral costs during thje contestable period even if they did try to help.

But, just for the sake of argument let's just say that the FCGS is everything you say it is and a wonderful product to own. The lady could have purchased it and not had to buy overpriced insurace to boot.

So, yes, she is stupid. She was conned and she was lied to. She was told it was a funeral preplan. Not only is that wrong, it's illegal.

She is going to get a booklet in the mail to fill out just as toanga told her. If you are calling that a funeral preplan then I believe the DOI might want to have a word with you.

Where did the poster ever say it was a preneed. All she said is they would take care of the arrangements for her funeral. Which they will. How did the agent lie?

Obviously you were not paying attention at the FCGS meeting. They will NOT take an assignment on a policy that is contestable. That's it!! They will still help with the arrangements. They will still price shop. I hear it every quarter when he comes down to my office and has a meeting with my agents. I also see it work with every claim I have filed with them.

They don't have any special leverage when helping with a funeral. But they still get on the phone and will help the beneficiary make funeral arrangements for the deceased. They will never do absolutely nothing unless the beneficiary doesn't want them too or if they are never contacted in the first place.

You don't have to take my word. You can rely on your experience with the FCGS. How many people did you sign up with the FCGS used their services? 0 ?? What experience have you had besides misinterpreting the only FCGS meeting that you went to.

I have had many many people helped by them. My personal clients and my agents clients.

Being an agency owner should give me for credibility because every claim from my agency comes across my desk. I have had more dealings with the FCGS than any single agent could ever have. It gives me a wider range to base my experience off of. I don't base my opinion on what happened to one client out of the thousands that are enrolled.

Maybe you should make a call to Joe Kraft and ask him what exactly they can do. Record it then post it. I bet you would be pleasantly surprised.

 

[jdeasy]

Things that make you go hmmmmm........

If they take it away if you drop the poicy then isn't it being given as an enticment to buy the policy?

Maybe GMD will put on his big boy pants and answer that question. Does the person lose the free FCGS if they drop the LH policy?
- - - - - - - - - - - - - - - - - -

Where did the poster ever say it was a preneed. All she said is they would take care of the arrangements for her funeral. Which they will. How did the agent lie?

Obviously you were not paying attention at the FCGS meeting. They will NOT take an assignment on a policy that is contestable. That's it!! They will still help with the arrangements. They will still price shop. I hear it every quarter when he comes down to my office and has a meeting with my agents. I also see it work with every claim I have filed with them.

They don't have any special leverage when helping with a funeral. But they still get on the phone and will help the beneficiary make funeral arrangements for the deceased. They will never do absolutely nothing unless the beneficiary doesn't want them too or if they are never contacted in the first place.

You don't have to take my word. You can rely on your experience with the FCGS. How many people did you sign up with the FCGS used their services? 0 ?? What experience have you had besides misinterpreting the only FCGS meeting that you went to.

I have had many many people helped by them. My personal clients and my agents clients.

Being an agency owner should give me for credibility because every claim from my agency comes across my desk. I have had more dealings with the FCGS than any single agent could ever have. It gives me a wider range to base my experience off of. I don't base my opinion on what happened to one client out of the thousands that are enrolled.

Maybe you should make a call to Joe Kraft and ask him what exactly they can do. Record it then post it. I bet you would be pleasantly surprised.

I'm not misinterpreting anything. Exactly what he said was, "when we get notice on a non contestable claim, we go to work". I asked what happens on a contestable claim and he said, "we can't do anything with those because we don't know if it will be paid".

No way to misunderstand that.

I don't know how many I signed up for it because I didn't keep count. I fail to see how that has anything to do with this issue.

Nor did I ever say it was a "preneed". You seem to be the one with a misinterpretation problem.

I said she was told it was a funeral preplan. I know that's what she was told because I have helped toranga with this and I heard the lady say that herself. No misinterpretaion, except on the LH's part, of course.

So, how about answering the other question, can this person keep this valuable free membership in the FCGS if they drop the policy?

 

[GMDM100k]

I always have my big boy pants on. Those are the only kind I wear!!!

Its only a free membership if they have an LH policy. If they cancel the policy they loose the free membership. They would have to pay for it by itself.

 

[pcbinsurance]

We all know nothing is free anyway. They are paying for it with higher premium.

 

[gordon112]

For an opposing opinion I guess we could just Joshua Slocum at 802-865-8300. He seems to think differently and heads the nation's largest Funeral Consumer Organization.

The trouble with the Lincoln Heritage one is that consumers are mislead into thinking they have to purchase something to get it. They think it's only available with the purchase of a Lincoln Heritage policy which makes it a sales gimmick in my opinion.

You nailed it on the button. That was my point.

 

[Newby]

That's OK. If they want to buy an overpriced policy from me I guess I could give them a gold bar worth $350.

That's not enticing seniors to overpay for life insurance s it?

I wonder if any LH consumers have requested all their premiums back when they cancel since they were enticed to buy it with a $350 freebie that was only available if the bought the insurance? Seems like a pretty good case to me for a class action.

 

[GMDM100k]

That's OK. If they want to buy an overpriced policy from me I guess I could give them a gold bar worth $350.

That's not enticing seniors to overpay for life insurance s it?

I wonder if any LH consumers have requested all their premiums back when they cancel since they were enticed to buy it with a $350 freebie that was only available if the bought the insurance? Seems like a pretty good case to me for a class action.

LH rates didn't change when they partnered up with the the FCGS. I don't think LH determines their rates based on the FCGS membership. They have always been high. When they started offering the FCGS membership it was at no extra cost. Its not like they added the $5.95 on top of the rates. Their rates would be the same even if the FCGS wasn't around.

 

[Newby]

LH rates didn't change when they partnered up with the the FCGS. I don't think LH determines their rates based on the FCGS membership. They have always been high. When they started offering the FCGS membership it was at no extra cost. Its not like they added the $5.95 on top of the rates. Their rates would be the same even if the FCGS wasn't around.

Right but the point is, the FCGS cost $350 if the they buy it. Lincoln Heritage throws it in for free but ONLY if they purchase insurance from LH.

How is that any different from any other enticement? It gets them to focus on the free gift and not be as aware of the cost of the insurance.

I know when Monumental brought out their version (Legacy SafeGuard) they made sure the agents knew to never imply anyone had to buy a policy to get it. Anyone you meet gets it. They said we could get sued for enticement if we made them buy life insurance to get the extra benefit.

 

[WinoBlues]

Right but the point is, the FCGS cost $350 if the they buy it. Lincoln Heritage throws it in for free but ONLY if they purchase insurance from LH.

How is that any different from any other enticement? It gets them to focus on the free gift and not be as aware of the cost of the insurance.

I know when Monumental brought out their version (Legacy SafeGuard) they made sure the agents knew to never imply anyone had to buy a policy to get it. Anyone you meet gets it. They said we could get sued for enticement if we made them buy life insurance to get the extra benefit.

That brings up a question.

RNA and Foresters have additional "benefits" (worthless IMHO) are they available outside of owning a certificate with them? Or is being a fraternal have different rules?

 

[Newby]

That brings up a question.

RNA and Foresters have additional "benefits" (worthless IMHO) are they available outside of owning a certificate with them? Or is being a fraternal have different rules?

Good question. But they also don't sell the extra benefits for $350 to the general public. They probably get by by saying they are non-guaranteed and have no cash value.

The CFGS is valued on the open market for $350