Dave Ramsey

[SomeDude99]

How do you guys deal with the Dave Ramsey type objection? People who refuse to buy whole life and demand on buying term. It seems this would hurt us as fe agents selling whole life.

I have run into a few people who were very headstrong with the Dave Ramsey idea of term and wouldn't even listen if I mentioned whole life.

 

[Gooner]

I've only run inton1 person with this objection. I asked, "how much is your car pmt?" PI, "It's only $150/month" me,"well dave also says not to have a car pmt...his advice is good on some thjngs, but not applicable to everyone in every situation. " something like that

 

[nfl72]

As I recall back in the 70's and 80's there was a company A. L . Williams. They preached to buy term, and with the money you saved, invest the rest. In theory if they did that at the end of the 20 or 30 year term they would have enough saved from the investing each month, they would not need insurance.

The problem was nobody invested the rest. At the end of the term they are left out in the cold, hung out to dry without a pot to piss in. Which pretty much describes the typical FE buyer today!

 

[WinoBlues]

Sell them convertibl term

 

[LGilmore]

Sell them what they want, convert them later.

When I started years ago, a senior agent described this type of client and simply said... "if they are going to be that dumb, they deserve to buy twice."

 

[DHK]

Since this is in the FE forum... your marketplace is the natural way to diffuse this.

"I appreciate you bringing this up. Did you buy term insurance when you were younger and working? What happened to it?" (Either they canceled it, or it became too expensive to keep.)

"If you were in your 30's today... this same payment for insurance that I'm quoting you today... would've bought you $xxx in life insurance back then... and it would've built a cash value by now too that you could use for whatever you wanted."

"The best thing I can do for you and your family now as your agent... is help you lock in a guaranteed premium for this promise to pay this money."

 

[WinoBlues]

Sell them what they want, convert them later.

When I started years ago, a senior agent described this type of client and simply said... "if they are going to be that dumb, they deserve to buy twice."

I call that block of business inventory.

 

[Gooner]

I call that block of business inventory.

Yeah..but you're not a FE agent

Bonus points for being 1st to post that

 

[WinoBlues]

Yeah..but you're not a FE agent

Bonus points for being 1st to post that

Hey man, I own that I don't write much FE compared to young beast. I am just a harmless old man.

Got a compulife lead couple days ago. The guy quoted his 75 yr old dad p+ 15 yr Genworth term. Wrote him GUL.

 

[Gooner]

Hey man, I own that I don't write much FE compared to young beast. I am just a harmless old man.

Got a compulife lead couple days ago. The guy quoted is 75 yr old dad p+ 15 yr Genworth term. Wrote him GUL.

You know I was just razzung you