Senior Life + Technology . . .

[shonceman]

No. I'm an agent for SL and an advocate for Legacy-Assurance. They are 2 separate entities and I represent both.

I guess you could look at it as if I deliver pizzas for Dominos and I'm also a cashier at the grocery store that sells frozen pizza.

I get that, but when you quote rates, are you quoting the base rate for the life insurance and the $3 for the program as separate items? Aren't most quoting them together as a single premium amount as though it's not optional, thus bundling? (Like charging $3 extra for the Domino's and automatically including a frozen Tombstone.)

 

[Todd King]

By law they have to keep the two companies separated is my understanding . . .

LH has done it for years, so there is some way to keep them together.

 

[Todd King]

I googled Legacy Safeguard and it looks like Lincoln Heritage's Funeral Consumer Guardian Service plan. Legacy Safeguard doesn't lock the price of a casket, vault, and monument into place for $3500 for the rest of the proposed insured's life. Legacy-Assurance does though.

What did I miss?

I would like to see, over time, what the percentage of actual use is. It might be the best thing since spineless okra, but if history tells us anything it is telling us that very very few even use it. Why? Because they don't bother setting themselves up for it or they don't bother to tell anyone else about it and when the time comes they sure as hell aren't talking then! LOL

 

[theinsuranceman]

I get that, but when you quote rates, are you quoting the base rate for the life insurance and the $3 for the program as separate items? Aren't most quoting them together as a single premium amount as though it's not optional, thus bundling? (Like charging $3 extra for the Domino's and automatically including a frozen Tombstone.)

I just say "Ms. Jones, the total monthly enrollment of your policy along with your legacy membership is (ins. premium + $3).

 

[theinsuranceman]

I just say "Ms. Jones, the total monthly enrollment of your policy along with your legacy membership is (ins. premium + $3).

During the presentation I tell Ms. Jones that Legacy Assurance is the company that provides her casket, vault, and monument for $3500 for the rest of her life and I also represent them too.

 

[theinsuranceman]

LH has done it for years, so there is some way to keep them together.

LH's FCGS plan does not provide merchandise at a discounted price. That's why they don't make the distinction between the 2 companies.

 

[Todd King]

LH's FCGS plan does not provide merchandise at a discounted price. That's why they don't make the distinction between the 2 companies.

But it is still 2 separate companies and LH has done it for years. I doubt very seriously that because one gives a locked in discount and the other doesn't makes a hill of beans of difference.

 

[theinsuranceman]

But it is still 2 separate companies and LH has done it for years. I doubt very seriously that because one gives a locked in discount and the other doesn't makes a hill of beans of difference.

Who cares? I'm not wasting any more time up here.

 

[Todd King]

Who cares? I'm not wasting any more time up here.

Very good. You're right, it has been a waste of time.

 

[shonceman]

Who cares? I'm not wasting any more time up here.

Greg, seriously? Asking questions makes you want to take your ball and go home? I was about to say that your answer to me (about "bundling") makes sense. So now if I'm competing with you or one of your agents, I know not to raise that as an issue. And while Todd disagrees that it's worth anything, I think that if it's presented correctly, it could be a genuine benefit to the consumer. I can also see how it would lock in the sale for the agent. I was just concerned that the client is understanding everything correctly.