Chatted with a college buddy earlier. He has been in the life insurance business longer than I have been in health. He has had good years and bad.
But that's another story.
He was telling me how he made over $100k on one sale.
He got my attention.
Existing client with $1,000,000 term. Diagnosed with ALS in the last 2 years. Ran through options to keep the coverage in force. Ran out of ideas and then asked if he had ever considered SELLING his plan.
Long story short . . . the viatical company paid the insured $450k . . . the agent got a NICE finders fee AND the commission on the conversion.
He had to run. Don't have all the details. Intriguing to say the least.
But that's another story.
He was telling me how he made over $100k on one sale.
He got my attention.
Existing client with $1,000,000 term. Diagnosed with ALS in the last 2 years. Ran through options to keep the coverage in force. Ran out of ideas and then asked if he had ever considered SELLING his plan.
Long story short . . . the viatical company paid the insured $450k . . . the agent got a NICE finders fee AND the commission on the conversion.
He had to run. Don't have all the details. Intriguing to say the least.