Who Is the best people to contract with

[vic120]

When replacing, you have to worry that they'll have a new 2 year contestable period (except in Kentucky).

Lots of people carry overpriced policies with companies like Lincoln Heritage, Senior Life and American Income Life. You can sell them the same amount of coverage for less money, or preferably, sell them more coverage for the same premium.

If they have cash value built up, it might make sense for them to cash it in and pay a little more per month. Pay an extra $10 a month, and get $1,000 plus cash back. It's like figuring out a puzzle.

You have to take their health into consideration. Some times it's better to sell them an additional policy, rather than replace.

Yes that is what I am looking to know more about

how do I know how much and how long they needed to have it how much is built up

 

[goillini52]

Yes that is what I am looking to know more about

how do I know how much and how long they needed to have it how much is built up

In their policy, it will have a table to get a rough idea, but you'll need to call the company to get an accurate cash value.

 

[vic120]

In their policy, it will have a table to get a rough idea, but you'll need to call the company to get an accurate cash value.

So its not something you calculate as you are just speaking with someone

at least a rough Idea of when to bring it up

 

[rousemark]

So its not something you calculate as you are just speaking with someone

at least a rough Idea of when to bring it up

The cash value will differ depending on the product and company. There is no general rule as to how much it might be. You need to look atq the table of nonforfieture values in their policy. That is harder to do over the phone as you have to have v a client that can locate the table in the policy and let you know what the values are. Another option in place of cahinqg the policy out is using the extended term or reduced paid up insurance if the want more coverage without a drastic increase in premium.

 

[goillini52]

So its not something you calculate as you are just speaking with someone

at least a rough Idea of when to bring it up

You have to see the policy to get a rough idea. If doing on the phone, do a 3 way and call the company to get an accurate cash value. Some companies build cash value quicker than others.

 

[jdeasy]

Selling FE is not about the product. If it was then any company desk jockey could sell it.

You have to understand the FE mindset.

You think you know. Ok, prove it.


Don’t worry about replacements. You will do very few replacements by phone.

 

[DonP]

I’m shaking my head. Vic you’ve on this board what 10 yrs read 10’s of 1000’s of posts and your asking questions a guy in the business 3 days would know. You’ve been talking about life for 1-2 months straight . How could an intelligent person have not scrolled threw 100’s of notes over the past yr and gotten ever question your asking answered . You’re not going to replace many over the phone . It’s much harder to replace a policy you can’t physically see or they can’t see you in front of them .A lot of these telesales shops won’t take and train you as your looking at this part time . There’s 100’s of telephone scripts online . Your telesales CO’s will be Sbli,Liberty bankers , Accendo ,Am Am ,gtl for almost Gi and cica . Thats all you need .

 

[vic120]

I’m shaking my head. Vic you’ve on this board what 10 yrs read 10’s of 1000’s of posts and your asking questions a guy in the business 3 days would know. You’ve been talking about life for 1-2 months straight . How could an intelligent person have not scrolled threw 100’s of notes over the past yr and gotten ever question your asking answered . You’re not going to replace many over the phone . It’s much harder to replace a policy you can’t physically see or they can’t see you in front of them .A lot of these telesales shops won’t take and train you as your looking at this part time . There’s 100’s of telephone scripts online . Your telesales CO’s will be Sbli,Liberty bankers , Accendo ,Am Am ,gtl for almost Gi and cica . Thats all you need .

Ok maybe you sold FE before, I really never got into the few calls I did some 6 years ago everyone had a policy and I was not sure what to do with it

Most have had one for 5 years 3 year like that and sometimes it was the same price I could offer or slightly lower

I did not know if they could get back cash value if it made sense to replace

This is why I am not looking to get started blind this time, the few things that took away my confidence in it, I am dealing with beforehand

so what why does that bother you so much?

 

[vic120]

Selling FE is not about the product. If it was then any company desk jockey could sell it.

You have to understand the FE mindset.

You think you know. Ok, prove it.


Don’t worry about replacements. You will do very few replacements by phone.

what are you saying, What just because its an emotional sale and you connect emotional, we should not care to understand the product?

your not making any sense

Does not matter I know what I need to know, and will not be without what I need when I start

not sure why you guys are getting all in a bunch about questions
I've not really sold FE before, nor did I spend the time and effort to learn it before
I am doing that now, Because I am going to be doing it 100%

So what what's the big deal man

 

[DonP]

Ok maybe you sold FE before, I really never got into the few calls I did some 6 years ago everyone had a policy and I was not sure what to do with it

Most have had one for 5 years 3 year like that and sometimes it was the same price I could offer or slightly lower

I did not know if they could get back cash value if it made sense to replace

This is why I am not looking to get started blind this time, the few things that took away my confidence in it, I am dealing with beforehand

so what why does that bother you so much?

Remember this word . CONTESTABILITY . Read up and understand that . Many many times seniors have health issues .Yes many CO’s will issue the policys . But when that claim time comes in that first 2 yrs they’ll underwrite the hell out of it . Any from significant experience with claims in the first 2 yrs 20-50% of these claims will be rejected in the contestable period . Thats why to replace a policy 2-4 yrs old with little to no cash value to save then $2-$8 a month is risky . There plan will pay the claim fast . Your plan will be contested and a decision will usually take 1-3 months .