Preneed Vs. Graded Policy from Presidential

[sellingdog]

Hello Newby or JD or any other veteran FE agents.

I have a case where the grandaughter wants to buy a policy on her78 year old grandmother. The grandmother lives at home, but needs help with daily activities. There is a state approved healthcare worker who is in the home 30 hours a week.

Presidential is my only company who will accept her ( $ 5K for $91.37 per month). Would she be better off with this or going to a funeral home for a Preneed policy?

The Grandaughter said she would pay the premium, these are not rich folks, and I want to do the right thing.

Thanks

SD

 

[JGold814]

The policy would be paid up in 4.5 years at age 82/83. Is she being treated for any medical conditions resulting in the need for assistance with DLAs that are also affecting life expectancy?

You should talk to Newby regarding preneed policies.

 

[jdeasy]

Hello Newby or JD or any other veteran FE agents.

I have a case where the grandaughter wants to buy a policy on her78 year old grandmother. The grandmother lives at home, but needs help with daily activities. There is a state approved healthcare worker who is in the home 30 hours a week.

Presidential is my only company who will accept her ( $ 5K for $91.37 per month). Would she be better off with this or going to a funeral home for a Preneed policy?

The Grandaughter said she would pay the premium, these are not rich folks, and I want to do the right thing.

Thanks

SD

The best deal for her with FE would be the GI from MoO. The most coverage at the earliest date would be a preneed.

$5000 face with MoO is $49.50/mo. $10,000 is $98/mo. Two year ROP.

If they can handle the preneed premiums that's the way to go.

 

[TDFnCali]

Hello Newby or JD or any other veteran FE agents.

I have a case where the grandaughter wants to buy a policy on her78 year old grandmother. The grandmother lives at home, but needs help with daily activities. There is a state approved healthcare worker who is in the home 30 hours a week.

Presidential is my only company who will accept her ( $ 5K for $91.37 per month). Would she be better off with this or going to a funeral home for a Preneed policy?

The Grandaughter said she would pay the premium, these are not rich folks, and I want to do the right thing.

Thanks

SD

You can go with Am_Am, they dont as about home health care & it will be 1st day coverage for only $49 for 5k or $95 for 10k....thats double what you are offering! Unless there's another health issue u didnt mention....and thats assuming shes a non-tabacco user!! Add a accident rider for double coverage for a few $$ more too!!

 

[jdeasy]

You can go with Am_Am, they dont as about home health care & it will be 1st day coverage for only $49 for 5k or $95 for 10k....thats double what you are offering! Unless there's another health issue u didnt mention....and thats assuming shes a non-tabacco user!! Add a accident rider for double coverage for a few $$ more too!!

You think the "needs help with daily activities" is gonna fly with AmAm? Good luck with that!!

 

[TDFnCali]

You think the "needs help with daily activities" is gonna fly with AmAm? Good luck with that!!

Im new so I dont know 100% beyond what Im told by my upline, but they said Am_Am is good for ppl with Home Health Care (give meds, chk vitals, etc), as long as its NOT a "Provider" who does housework & stuff...and its not asked on the app, a lot of other companies ask about that!

You're seasoned JDeasy, so pls share if Im missing something!

 

[jdeasy]

Im new so I dont know 100% beyond what Im told by my upline, but they said Am_Am is good for ppl with Home Health Care (give meds, chk vitals, etc), as long as its NOT a "Provider" who does housework & stuff...and its not asked on the app, a lot of other companies ask about that!

You're seasoned JDeasy, so pls share if Im missing something!

Just going by experience.

 

[Newby]

The Preneed for $5,000 would be $101 monthly. The advantage of it over Presidential is policy growth (it would gain around $175 additional death benefit each year that she lives) and she would have 70% coverage (non-contestable) after 12 months, 100% after 24 months.

The other big factor with Preneed is the early payoff option. At the 24th month the family can decide if they want to stay on payments or pay it off. If the person is not expected to live too much longer you stay on payments. If their health is stable most families lump sum pay the balance. This prevents people from paying $10,000 for a $5,000 death benefit. With Presidential your only option is to keep on paying.

The MOO plan is VERY attractive at that rate. For a family that couldn't pay off the preplan in 24 months, that's probably the best route. Unless they don't expect her to live over 2 years.

 

[sellingdog]

Thanks everyone for the quick and insightful replies. I can get contracted with MOO, which at the rate difference I need in my bag. Thanks Newby for the education on preneed, being fairly new to this, every day is a learning experience.

If I can get her on MOO, I will go in that direction, if not, can I refer them to you Newby? I know your worldwide, does that include TN?

Thanks

SD

 

[jdeasy]

Thanks everyone for the quick and insightful replies. I can get contracted with MOO, which at the rate difference I need in my bag. Thanks Newby for the education on preneed, being fairly new to this, every day is a learning experience.

If I can get her on MOO, I will go in that direction, if not, can I refer them to you Newby? I know your worldwide, does that include TN?

Thanks

SD

Agents can't sell that MoO product. They have to get it direct from MoO. That's not one you make any money on. It's just the right thing to do sometimes. I helped a lady get it last week for her mother that's in a nursing home.