Senior Life Unannounced Rate Increase-Normal/Abnormal?

[titeye]

There's right and wrong and then there are "spin doctors " who will do anything to deflect when answering questions on this forum.

Upselling poorly educated low income senior citizens with products they did not ask for,agree to purchase,or anyway you want to spin it is just plain wrong. It costs the policy owner an extra $4-$7 a month and sometimes more for these unnecessary ad ons.

Senior Life and Lincoln Heritage rip our seniors off and deprive their beneficiaries of the extra death benefit they could receive without AD&D,Legacy Assurance,or the Funeral Guardian Society (fairy dust organizations).

Sometimes the client can receive an extra 1-2k in death benefit if the SL agent,LH agent didn't "slip" these extras in.


We are here to help seniors,not screw them.

We can debate this until the end of time. These seniors you are referring to are adults. They are well capable of making their own decisions. I don't know of one senior citizen that I can bully into buying something they don't want. How many do you know?
Both LH and SL have the right to sell whatever they desire to whomever they desire. Other carriers have riders and add-ons, which they refer to as living benefits. Critical illness, AD&D, etc. If there were not a demand for a product or service, it wouldn't sell anyway. The crime is signing them onto things they did not agree to or authorize. Sure, some SL agents sign clients up to Legacy without their consent. Likewise, agents outside of SL also add riders to policies without the consent of clients.
It's not the product or company that's good or bad, it's the agent representing the product or company.
Let me be crystal clear. I am not promoting SL, LH, Legacy or Funeral Advantage. Just trying to frame the issue correctly.

 

[theinsuranceman]

You always find a way to"spin it "

Same unnecessary ad on,way to pad the figures....

I've often wondered,do you train your down line to include the AD&D rider and Legacy Assurance regardless of the client's need,desire,or knowledge of those products ?

I bet they brag at home office amongst themselves about all the extra money they rake in by ripping off poorly educated senior citizens with theses 2 completely unnecessary ad ons ?

New guys....pay attention.....in fact, wait for it....

Who pissed in your cereal this morning?

 

[rousemark]

I must be missing something. I'm thinking, an inch is an inch, regardless of how many sheets of steel it takes, using your example. Is it that 18 sheets are stronger than 20 sheets, even if they both combine to = 1 inch?

As a former US Airforce Metals Processing Specialist (welder), I know a little (very little) about metal. 18 gauge steel is approximately 5/10 of an inch thick no matter where it is made.. However, there is a difference in the quality (purity) of the steel and therefore a difference in tensile strength. In the case of a casket, I doubt it would really make much difference as in reality it is never going to be seen again once it is put in the ground.

 

[noah]

We can debate this until the end of time. These seniors you are referring to are adults. They are well capable of making their own decisions. I don't know of one senior citizen that I can bully into buying something they don't want. How many do you know?
Both LH and SL have the right to sell whatever they desire to whomever they desire. Other carriers have riders and add-ons, which they refer to as living benefits. Critical illness, AD&D, etc. If there were not a demand for a product or service, it wouldn't sell anyway. The crime is signing them onto things they did not agree to or authorize. Sure, some SL agents sign clients up to Legacy without their consent. Likewise, agents outside of SL also add riders to policies without the consent of clients.
It's not the product or company that's good or bad, it's the agent representing the product or company.
Let me be crystal clear. I am not promoting SL, LH, Legacy or Funeral Advantage. Just trying to frame the issue correctly.

Who said anyone was bullying a client to buy something?

You make that up ?


Cmon man

They aren't bullying anyone. These are lay downs. The SL or LH agents are "slipping it in " .

How many times do you think an insured told the agent that replaced their SL or LH policy "If I would have known I was being charged extra for that I would have never took it out with that company " and then said " go ahead and see what you can do and don't charge me for that hog wash

 

[PA Bill]

I don't know, but for a buck a month I'd take it. Just like the power play for a buck when I play Powerball. But what do i know, I just sell this shit.

 

[Life Hawk]

As a former US Airforce Metals Processing Specialist (welder), I know a little (very little) about metal. 18 gauge steel is approximately 5/10 of an inch thick no matter where it is made.. However, there is a difference in the quality (purity) of the steel and therefore a difference in tensile strength. In the case of a casket, I doubt it would really make much difference as in reality it is never going to be seen again once it is put in the ground.

Makes you want to go our and dig up a few just to make sure.

 

[rousemark]

Makes you want to go our and dig up a few just to make sure.

What would we do if the little foreign jobs fared better than the American made??

 

[noah]

Anything could happen. There are no absolutes. But I know if YOU or I was the funeral director meeting with the family at the time of making the arrangements, we are not going to lose a casket sale to anyone. But not every funeral director is good at what they do. So some will.

Most modern funeral homes do not inventory caskets any more. They use catalogs or computer programs to select them. Believe me Batesville offers around 400 plus customization. and they have several competitors with hundreds more. There is way TOO much selection for most people. The big advantage of Batesville is overnight delivery. The delivery system is a huge part of the casket cost.

I think Legacy is a good tool for offering something a little different than other FE companies. If it helps sell the insurance policy it has done it's job.

"I think Legacy is a good tool for offering something a little different than other FE companies. If it helps sell the insurance policy it has done it's job."

Really ?

How come your organization isn't pushing something similar? Wouldn't JD be selling it ?

 

[rousemark]

You always find a way to"spin it "

Same unnecessary ad on,way to pad the figures....

I've often wondered,do you train your down line to include the AD&D rider and Legacy Assurance regardless of the client's need,desire,or knowledge of those products ?

I bet they brag at home office amongst themselves about all the extra money they rake in by ripping off poorly educated senior citizens with theses 2 completely unnecessary ad ons ?

New guys....pay attention.....in fact, wait for it....

Why is it that anytime and agent sells a product that another agent doesn't think necessary they always imply the other agent is dishonest in some way?

For example, you imply that selling accidental death benefit is dishonest. I seldom add on AD but think I probably should more often. I looked at Columbian.. at age 70 male, NTU the rate is $81.66 per $1000. The AD is $3.50 per $1000. So, without the policy fee $10K is $816.60 and $10K AD is $35.00. The price for the AD would buy less than $430 death benefit.

Now, consider this, accidental death has risen to the 7th largest cause of death among folks 65+.. Approximately 4% of deaths.. The premium for AD? about 4% of the DB premium... As you can see the amount of risk the insured is exposed to is equal for the premium they pay... After all, the same actuarial tables cover both.
If you write a person without AD coverage who dies natural or accidentally the beneficiary is going to receive $10,430.00 ... If write that same person AD coverage, the beneficary is going to receive $10,000 in case of natural death or $20,000 if death is accidental.. How is it dishonest to sell that?

It is time we quit questioning a person's honesty jut becasue they may think differently about the benefits of a plan than we think.

 

[rousemark]

"I think Legacy is a good tool for offering something a little different than other FE companies. If it helps sell the insurance policy it has done it's job."

Really ?

How come your organization isn't pushing something similar? Wouldn't JD be selling it ?

I think JD did sell it.. Wasn't he a top agent with Lincoln Heritage at one time?