Starting a Position with Securus FE

[rousemark]

Is MGA the owner of LH?

I thought it was SL.. But then I stay confused..

 

[WinoBlues]

My concern is that we have a FE company owner and a FE agency trainer that do not know this and I have to guess putting out wrong information to agents and consumers.

 

[rousemark]

Newby
You must have forgot yourself. If a funeral home puts the clients money in their bank account and they go bankrupt please tell me where you think their money went.

The money is held by a trust therefore it has to be in an account owned by the trust which is a separate entity from the funeral home. Funeral home BK would not affect the trust in any way.

 

[exLeadJunkie]

It is really scary how many agents do not know how funeral preneed plans work in their state especially FE agents. FE agents should become well versed in all aspects of their industry and this Greg fellow and others here have shown gross ignorance of how funeral homes legally fund preneed plans in accordance with their state insurance departments. For this Greg guy to scare his client with the "What happens to your money if the funeral home goes out of business" is both unprofessional and is actually considered slander in most states and is definitly considered slamming. Statements like those are against the law for a reason, it scares seniors into making financial decisions to benefit the agent. There are plenty of legitimate legal ways of explaining the client's need for a FE policy without breaking the law and hurting this industry. If we are not carefull our industry could wind up taken over by this gov't like almost every other industry has been.

 

[jdeasy]

I have to agree with you. I also will say that any carrier and IMO that negotiates to keep someone held hostage for 12 months is definitely not a friend of the agent.
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I have never had this objection come up except once and that was because I did not do my due diligent warm up/fact find. This is a good one to ask JDEasy. If anyone can tell you how to overcome this objection he can.

JD, How do you overcome this objection?

Are you asking about the "talk to my kids" objection?

That's a pretty common objection but it is not the real objection. There is really only one real objection, money! It comes cloaked as many things, but that's the bottom line. For example, if you giving the lady a $10,000 policy for free she wouldn't need to talk to the kids about it.

I don't get many objections at all because my whole presentation is designed to remove objections. I'm not very good at overcoming objections so I have to remove them before they happen. But, the most important thing is finding out why you are there first and foremost.

The very first thing I do is establish that. I find out why they sent in the reply card and why they agreed to meet. If I can't find a reason I do not make a presentation. I thank them for their time, leave my business card and then leave. I will NOT make a presentation to uninterested people.

The last time I got the 'talk to my son" objection was a while ago. I'm sure it wasn't this year so maybe last fall. I had established the reason and made my presentation and apparently misread the situation before I ladi out the options and prices. I don't show any options less than $50/mo to start. She said ,"I do need this but I need to talk to my son before I proceed". I told her that was a good idea and had I realized that her son helped her I would have wanted him in on the discussion from the beginning and offered to call him. She said he wasn't available to talk. I then took back the paper and said this is what you can get for $35/mo. She said, "oh, I'll do that, where do I sign?". I asked about her son and did she need to talk to him still before we did the application. She said, "no, he doesn't pay my bills, I do". We did the application, she was approved and she still has the policy today. The real objection was price and I screwed up somewhere along the presentation and didn't get that.

The cases where it really is a need to talk to the kids then I want them involved. Or any "gatekeeper" whether it's the kids, another family member or a friend. I have rescheduled appointments to have the gatekeeper present. Sometimes it's not an objection, it's just how it is. Deal with that situation as it is. That's the same as doling a one legged appointment if you don't get the other involved.

If you are talking about the objection for the funal home and a preneed policy, I don't combat that at all. The people really contemplaing that are not your typical FE prospects. I do believe that, if you have the money to prepay in full, it's a good deal and I tell people that. I can't tell them otherwise because I don't believe otherwise. I don't do preneed so I tell those to go talk to Newby because he is an expert on those policies. I am not.

I will tell them that, if they have to make payments on a preneed then it's not a good deal because that's what I believe.I will then show them other options.

I don't get that much, hardly at all really, because I find out in the beginning why they sent in the card. Very few people that have been down to the funeral home talking about preneed send in the reply card in my experience.

I am not really a good salesman. I "sell" FE very much the way Frank Statsny "sold" med sups. I had many conversatiolns with Frank and we did so much alike in that we educate our prospects. During my presenation I explain term, UL and whole life. I talk about company ratings and fraternal certificates vs policies. I do tell people that I will not sell them a term or UL for FE. If they want that after i have explained my reason I offer to give them a numer to an agent that will sell them term. I have yet to have anyone take me up on that offer.

It's the same with ROP plans. I do not sell ROP plans. When I run across people that need GI then I refer them to MoO because they can't get a better deal from any agent. Or, that's what I used to do. Now that Vantis is available I do refer some of those same folks to Vantis. I don't write vantis, but Newby does so I send those to him or if they are out of the area where Newby works I give them Brad's card so he can sell them Vantis.

The fact that I will give up business has gotten me more business than I can count.

As far as the op's question on the objection, I would never it that way because I would NEVER ask for the sale in that manner. That's giving them an opportunity to object. Once again I find myself agreeing Greg. I assume every sale. Travis says that, "if someone doesn't stop you from writing the app at least once a week you are not assuming enough". I believe that as well. I had a guy stop me me yesterday when I had it halfway filled out.

I go back to my early training and this is something I keep with me on a piece a paper to refer to every now and again. There are 5 reasons people don't buy.

1.No trust

2.No need

3.No money

4.No urgency

5. No desire

You must handle all five to do business. The hardest to overcome is no trust. The only one impossible to overcome is no money.

You cannot make it in this business if you do not address those fundamentals.

 

[exLeadJunkie]

Very good posts on here on how to handle objections. Thanks for the sharing the info. Now time to go put it into practice, lol.

 

[coloradoseniormarket]

Great post JD- thanks for the refresher. My biggest challenge is assuming the sale.

 

[theinsuranceman]

It is really scary how many agents do not know how funeral preneed plans work in their state especially FE agents. FE agents should become well versed in all aspects of their industry and this Greg fellow and others here have shown gross ignorance of how funeral homes legally fund preneed plans in accordance with their state insurance departments. For this Greg guy to scare his client with the "What happens to your money if the funeral home goes out of business" is both unprofessional and is actually considered slander in most states and is definitly considered slamming. Statements like those are against the law for a reason, it scares seniors into making financial decisions to benefit the agent. There are plenty of legitimate legal ways of explaining the client's need for a FE policy without breaking the law and hurting this industry. If we are not carefull our industry could wind up taken over by this gov't like almost every other industry has been.

Newby is the Pre-Need expert here, and I've learned something new from him today. I've never ever sold pre-needs and don't care to.

If these statements/questions are against the law and considered slamming/slander I say BS. Maybe you can offer something of value instead of criticizing???

 

[Mattschmidt]

I can't believe MGA is the owner of LH...That baffles me!

 

[jdeasy]

I can't believe MGA is the owner of LH...That baffles me!

He has to be the owner of some insurance company. He is always busting on me because I am not an insurance company owner.

Why would he make that argument if he is not an owner himself?