Well, that is one way to inflate the app count. If L&H is even close to being competitive on premium, I am sure they would like to reconsider making FEXquotes remove their rates from the quote engine so they attract even more agents when we see how good the premiums are.
Lincoln Heritage
- Thread starter mswebb06
- Start date
Well, that is one way to inflate the app count. If L&H is even close to being competitive on premium, I am sure they would like to reconsider making FEXquotes remove their rates from the quote engine so they attract even more agents when we see how good the premiums are.
They asked FEXquotes to remove the rates from the quoter?
- 26,171
You can add a spouse term rider? What do the riders convert to?
- 19,667
Not only are they geting renewals on that business they take the renewla from even the vested agents onc ehte renewal is below $250/mo.
Anyone that says they are an "agent friendly" company is either in the dark or in on the take.
- 19,667
Once you leave them the renewals will continue to go down. As soon as it's below $250 for a month they are no longer your's or your agents.
So, as I said, they are either in the dark or in on the take. You are in on the take.
- 26,171
What happens to the child's insurance at age 25? I misunderstood, I thought you said that one policy covered the husband, wife and children.
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- 17,077
Calling the LH policies and the FCGS "Funeral Planning" is very misleading. They are selling a whole-life policy the same as all other FE companies.
They give as a "free gift" a lifetime membership to the FCGS which is valued at $295 and you are REQUIRED to buy the LH insurance policy to recieve your "free" membership. (Legal?)
The best known Funeral Consumer Watchdog is Joshua Slocum and he summerizes his report on the FCGS here:
To my mind, any reasonable person would conclude that the relationship between the Funeral Consumer Guardian Society and Lincoln Heritage Life Insurance Company is far closer than a mere mutual endorsement. In several instances, they share the same staff and officers, they appear to share some field employees, and I can find no record of any beneficial activities for the public, devoid of profit motive, performed by the FCGS. Indeed, FCGS staffers seem interested in each case in selling consumers life insurance for LHLIC. I can find no record of the FCGS or its ghostly "parent organization," the American Senior Security Association, being registered with the Internal Revenue Service as a 501(c)(3) organization.
FCGS has provided FCA with no substantive documentation describing the organization, mission, finances, or bylaws of the Society — documents one would expect that any legitimate, nonprofit consumer organization would be glad to make public.
By presenting itself to the public as a nonprofit consumer protection organization — through words, phrases, and literature uncannily similar to those used by Funeral Consumers Alliance — FCGS has packaged itself in a deceptive fashion in order to lure unsuspecting citizens into purchasing life insurance. (Josh Slocum)
Read his full report at funeralwords.blogs.com/funeral_words/files/ReportonFCGS.doc
They give as a "free gift" a lifetime membership to the FCGS which is valued at $295 and you are REQUIRED to buy the LH insurance policy to recieve your "free" membership. (Legal?)
The best known Funeral Consumer Watchdog is Joshua Slocum and he summerizes his report on the FCGS here:
To my mind, any reasonable person would conclude that the relationship between the Funeral Consumer Guardian Society and Lincoln Heritage Life Insurance Company is far closer than a mere mutual endorsement. In several instances, they share the same staff and officers, they appear to share some field employees, and I can find no record of any beneficial activities for the public, devoid of profit motive, performed by the FCGS. Indeed, FCGS staffers seem interested in each case in selling consumers life insurance for LHLIC. I can find no record of the FCGS or its ghostly "parent organization," the American Senior Security Association, being registered with the Internal Revenue Service as a 501(c)(3) organization.
FCGS has provided FCA with no substantive documentation describing the organization, mission, finances, or bylaws of the Society — documents one would expect that any legitimate, nonprofit consumer organization would be glad to make public.
By presenting itself to the public as a nonprofit consumer protection organization — through words, phrases, and literature uncannily similar to those used by Funeral Consumers Alliance — FCGS has packaged itself in a deceptive fashion in order to lure unsuspecting citizens into purchasing life insurance. (Josh Slocum)
Read his full report at funeralwords.blogs.com/funeral_words/files/ReportonFCGS.doc
Anyone can join the FCGS for as little as $5.95 per month. So, if I am able to save them $20.00 per month over what they are paying LH for their FE, then if they want the questionable FCGS benefits they would still be $14.00 per month better off than with the LH plan.
http://www.funeralconsumer.org/images/enrollment.pdf
Also, what happens to the FCGS plan offered by LH if they lapse their LH policy?
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- 17,077
How is that any different than FE agent selling an FE policy and telling the family to call him (the agent) when the death occurs. Any agent can help the family at the time of need. Any agent has detailed planning guides.
The difference is most agents are not offering to pay the $295 lifetime membership fee for the insured based on the sale of a life insurance policy. I don't think it's legal to do that in most states.
The CFGS does nothing that a well informed agent couldn't do himself. And it's basically a smoke and mirrors sales tool to get the consumer to "feel" like he bought something other than an over priced life insurance policy.
Lincoln Heritage had actual funeral preplanning insurance policies also until last year. Did you make it clear to your families that those were also available? Do you explain the inflation on your non-guaranteed version?
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