- 119
This is a long post so please bear with me. I read a post several weeks ago from an agent saying that FE policies may not be the best option for most people. There was a lot of discussion on that post, but I feel it is worthwhile to add my perspective. I sold FE policies for about 9 months several years ago and then I shifted to sellling/enrolling in MA plans. I have had great success with my MA business and I have started to cross-selling FE policies and that has been profitable as well. Ironically, when there were questions around CMS funding levels for MA plans, I thought about shifting my focus back to FE. That is when I started cross-selling.
On April 10th, I had one of my first death claims from one of my FE clients that I sold about 23 months ago. It was rough because I sold this man and his wife several policies each and we got know each other fairly well. They had no savings and so they will have to rely on the proceeds to pay for his funeral. He also bought a large enough policy to help his wife get by for a couple of months also. Unfortunately those policies were Forester's policies and they were still in the contestibility period so I know getting those claims paid will be a headache.
I just got a call this morning from the family member another policy I sold just over 2 years ago so there is no contestibility period. The family is devastated. The man was only 55 and it sounds like he past away from a heart attack or something similar. He may have had a bad heart and did not even know it. The family will have no other way to pay for the funeral without the policy proceeds. His premium was $24/month. At two years of premiums, he has about $600 in that policy that will pay $5,000 to the daughter to cover his funeral, which is just want he wanted. He would not have been able to get any other kind of life insurance on his budget. Now I am feeling like I should sell more of these policies. Like they say, the life insurance agent is the only one showing up at the funeral with a check. On top of that, I can make a good living by making a difference in people's lives. And if other people have been thru similar situations the prospects also see the value of FE.
On April 10th, I had one of my first death claims from one of my FE clients that I sold about 23 months ago. It was rough because I sold this man and his wife several policies each and we got know each other fairly well. They had no savings and so they will have to rely on the proceeds to pay for his funeral. He also bought a large enough policy to help his wife get by for a couple of months also. Unfortunately those policies were Forester's policies and they were still in the contestibility period so I know getting those claims paid will be a headache.
I just got a call this morning from the family member another policy I sold just over 2 years ago so there is no contestibility period. The family is devastated. The man was only 55 and it sounds like he past away from a heart attack or something similar. He may have had a bad heart and did not even know it. The family will have no other way to pay for the funeral without the policy proceeds. His premium was $24/month. At two years of premiums, he has about $600 in that policy that will pay $5,000 to the daughter to cover his funeral, which is just want he wanted. He would not have been able to get any other kind of life insurance on his budget. Now I am feeling like I should sell more of these policies. Like they say, the life insurance agent is the only one showing up at the funeral with a check. On top of that, I can make a good living by making a difference in people's lives. And if other people have been thru similar situations the prospects also see the value of FE.
Last edited:
