Another Prime Example Of A Sales Person Rather Than An Agent!

[The Rabbi]

The woman was paying a pre need plan but the family didn't think she would last long enough to pay it off which is why they bought an FE. She must have been in poor health.

In Florida, the applicant initials a statement that it is a felony to lie on the app. If the agent doesn't make sure the applicant understands, shame on the agent.

 

[Newby]

The woman was paying a pre need plan but the family didn't think she would last long enough to pay it off which is why they bought an FE. She must have been in poor health.

In Florida, the applicant initials a statement that it is a felony to lie on the app. If the agent doesn't make sure the applicant understands, shame on the agent.

If the woman was paying on a Preneed plan and the family felt she was terminally ill, why would they change to FE?

The Preneed plan would have covered her 70% NON-contestable after the 12th month. 100% after 24 months and possibly 35% non-contestable after the 6th month.

What FE policy will do that for someone in that bad of health?

 

[explorer67]

I love how the female reporter who speaks over the video says they were making payments to a local funeral home (wrong). Reporters get this wrong all the time. They always confuse funeral preplanning and final expense life insurance in these stories.

Bankers Life does NOT offer any funeral Preneed insurance. Even if it was a RARE funeral home that sold FE insurance they wouldn't sell Bankers Life because Bankers is captive.

It's just an incorrect news report.

It was 2 different policies. they said prepaid was not completely paid yet and that was why they bought from Bankers to cover the difference incase she died before it was paid.

 

[Newby]

It was 2 different policies. they said prepaid was not completely paid yet and that was why they bought from Bankers to cover the difference incase she died before it was paid.

That doesn't make sense. The prepaid funeral would have more insurance coverage than the FE policy. That's why people do them. You don't have to have it paid in full to be fully covered.

 

[explorer67]

That doesn't make sense. The prepaid funeral would have more insurance coverage than the FE policy. That's why people do them. You don't have to have it paid in full to be fully covered.

It may not make sense, but if you listen to the interview that is why they explained they bought the policy. I had a field trainer tell a client that they should pick up an additional policy because when they died their prepaid probably would not cover everything with the funeral home.