Never Seen a Policy

[HoosierLife]

So I'm about ready to go out and knock some doors and cold call. Just need to get appointed. I have a decent understanding of the warm up, presentation and close.

But I've never seen a final expense or funeral policy before. I've read/heard about AARP or other big names offering term to 80, graded and/or raise premiums every 5 years. You guys talk about showing them in their current polices where it says these things. But I have never seen a policy.

Does anybody know where I can download a bunch of different policies (FE and funeral/plot) so I know what I'm looking at when I get in someone's home?

 

[Rearden]

Go ahead and get on the mailing lists for the following:

The AARP Life Insurance Program from New York Life
Whole Life Insurance Policies, Quotes & Rates - Mutual of Omaha
https://colonialpenn.com/GuaranteedAcceptance/Quote.aspx?
Globe Life And Accident Insurance Company â€" Life Insurance For Children And Adults

You should be able to select a quote and get some paraphernalia sent to you via the mail.

Read the marketing literature and highlight the sentences making references to 2-Year Graded Periods, Rates not being guaranteed, cancellation at X age, etc.

Laminate each page and use them at the door if necessary.

Otherwise, whenever you pop open a Globe/AARP/MoO/CP policy, look at the cover page where the policy outlines the benefits. There you'll see where it says "Level Premiums to Age 80," "Reduced Benefit For First Two Years," Etc.

If needed, call the company directly, speak with a customer service person, and let them tell your prospect how much the policy sucks.

But watch out, sometimes they will mention the conversion privilege in AARP and Globe Term policies, which sometimes beat out Whole Life Insurance quotes we can offer.

 

[HoosierLife]

Go ahead and get on the mailing lists for the following:

The AARP Life Insurance Program from New York Life
Whole Life Insurance Policies, Quotes & Rates - Mutual of Omaha
https://colonialpenn.com/GuaranteedAcceptance/Quote.aspx?
Globe Life And Accident Insurance Company â€" Life Insurance For Children And Adults

You should be able to select a quote and get some paraphernalia sent to you via the mail.

Read the marketing literature and highlight the sentences making references to 2-Year Graded Periods, Rates not being guaranteed, cancellation at X age, etc.

Laminate each page and use them at the door if necessary.

Otherwise, whenever you pop open a Globe/AARP/MoO/CP policy, look at the cover page where the policy outlines the benefits. There you'll see where it says "Level Premiums to Age 80," "Reduced Benefit For First Two Years," Etc.

If needed, call the company directly, speak with a customer service person, and let them tell your prospect how much the policy sucks.

But watch out, sometimes they will mention the conversion privilege in AARP and Globe Term policies, which sometimes beat out Whole Life Insurance quotes we can offer.

Should I get a quote for a 60 something year old?

 

[Todd King]

Should I get a quote for a 60 something year old?

Yeah, just tell them you are getting a quote for Rick.

 

[HoosierLife]

MoO lets me get a quote online, and it even says its a graded policy, but doesn't explain what that means in the quote. If I try going any further they want a bank acct.

So Rick ill need some of your personal info...

 

[jdeasy]

Go ahead and get on the mailing lists for the following:

The AARP Life Insurance Program from New York Life
Whole Life Insurance Policies, Quotes & Rates - Mutual of Omaha
https://colonialpenn.com/GuaranteedAcceptance/Quote.aspx?
Globe Life And Accident Insurance Company â€" Life Insurance For Children And Adults

You should be able to select a quote and get some paraphernalia sent to you via the mail.

Read the marketing literature and highlight the sentences making references to 2-Year Graded Periods, Rates not being guaranteed, cancellation at X age, etc.

Laminate each page and use them at the door if necessary.

Otherwise, whenever you pop open a Globe/AARP/MoO/CP policy, look at the cover page where the policy outlines the benefits. There you'll see where it says "Level Premiums to Age 80," "Reduced Benefit For First Two Years," Etc.

If needed, call the company directly, speak with a customer service person, and let them tell your prospect how much the policy sucks.

But watch out, sometimes they will mention the conversion privilege in AARP and Globe Term policies, which sometimes beat out Whole Life Insurance quotes we can offer.

How would AARP's UL or Globe's term ever in a million years beat out a whole policy?

 

[Rearden]

How would AARP's UL or Globe's term ever in a million years beat out a whole policy?

The term/UL conversion is pretty good with AARP.

 

[Agentguy5]

Ok, this thread reminds me of an old episode of "The Outer Limits..."

 

[Jerard]

Ok, this thread reminds me of an old episode of "The Outer Limits..."

All episodes of the Outer Limits are old. I think they were all in black and white? Now that's old.

 

[jdeasy]

The term/UL conversion is pretty good with AARP.

The price is halfway decent. Still beatable but decent. It's still a UL with no premium guarantee. If a person has trouble selling against that in the FE market they might want to reconsider being in the FE market.

The only way it couldn't be beat if if they can't qualify elsewhere and it's their only option.