This product Bankers sells ??

[Life Hawk]

Keep in mind, that contrary to what a lot of agents tend to believe, or at least tell clients, the Guaranteed column does not mean anything.. Almost impossible to happen as illustrated. It is based on minimum interest and maximum cost (including cost of insurance) from day 1. but the companies are paying more interest and charging less than the ma cost when the policy is issued. Even if interest rate is dropped to the guarantee, few companies have raised the internal cost to the maximum.

Always make a phone call with the client and get the skinny. Very much a habit of mine for two reasons:

1. You know exactly what numbers you are dealing with, taken from the horses mouth.
2. You establish a level a trust with the client.. who often is not even aware of what questions to ask.

"Mildred, let's take a look at 'your' paper work and give 'your' company a call."

 

[shonceman]

shonceman, thanks so much for this-----------had I seen such I would have come to the correct conclusion/ it clearly says it on the illustration and see now how the CV can expires before the policy lapses. Was this an illustration you pulled on carrier site or was this a schedule included in the policy---------this says at top 20 year UL which I guess suggests when it lapses out / don't recall her pages saying anything as definitive as this---just say 5 year guarantee on policy page. Thanks again you and others for the guidance

That's actually from a client's policy. I have a PDF of it in his file. I made a copy and changed the file name to what it says at the top so it wouldn't show any of his personal info.

 

[FinalExpenseDojo.com]

One tactic I like to use when replacing is to ask them questions that makes them sell themselves.

"Does it concern you that your policy _______" (enter biggest problem).

In this case it would be "Does it concern you that your policy is not guaranteed for life?"

This usually opens up a can of worms in the clients mind & makes them a lot more open to talk about a different (better) plan since now they feel like it's their idea!

 

[WinoBlues]

One tactic I like to use when replacing is to ask them questions that makes them sell themselves.

"Does it concern you that your policy _______" (enter biggest problem).

In this case it would be "Does it concern you that your policy is not guaranteed for life?"

This usually opens up a can of worms in the clients mind & makes them a lot more open to talk about a different (better) plan since now they feel like it's their idea!

Do you sell Fraternals as Guaranteed?

 

[FinalExpenseDojo.com]

Lol

 

[Life Hawk]

Do you sell Fraternals as Guaranteed?

Reminds me of the news media cook'n up some fake news!

 

[Thedude]

Lol

Well, do you?