Death Claims Yielding New Business

[Life Hawk]

Handling your own death claims can be very profitable. New agents need to be aware this.

Cutie and I will be headed on vacation to SC soon and because of timing, I will have an opportunity to handle some death claim business that I hope to turn into cash. Life policy has already paid out, but I have an annuity that needs attention, plus a previous annuity I hope to help with as well.

Pennies from heaven.

When your "Mildred" passes, find ways you can be of assistance. Create new relationships that can very well lead to fresh fruit.

...plus it makes you feel very good about yourself.

 

[DonP]

Handling your own death claims can be very profitable. New agents need to be aware this.

Cutie and I will be headed on vacation to SC soon and because of timing, I will have an opportunity to handle some death claim business that I hope to turn into cash. Life policy has already paid out, but I have an annuity that needs attention, plus a previous annuity I hope to help with as well.

Pennies from heaven.

When your "Mildred" passes, find ways you can be of assistance. Create new relationships that can very well lead to fresh fruit.

...plus it makes you feel very good about yourself.

On most $10-$15 k fe policys what's left for an annuity after the claim paid ? Most of the people I sell got zero assets and zero extra money

 

[Life Hawk]

On most $10-$15 k fe policys what's left for an annuity after the claim paid ? Most of the people I sell got zero assets and zero extra money

You need new people.

I sold and annuity in that home and was made aware of another annuity. When the opportunity arises, I've learned to dig deep and ask more questions than just, "Do you have life insurance?"

The art of good questions asked properly is lost if you just do too much rinse and repeat too often and assume more than you should.

 

[shonceman]

Several years ago I was handling a $4,000 claim with the beneficiary when I discovered that the insured (her mother) had left her $300k in bank CD's. Yes. I moved her into an annuity!

If you had seen her house, you would have sworn these were the poorest people in all of Texas! That was a powerful lesson about making assumptions!

 

[DonP]

You need new people.

I sold and annuity in that home and was made aware of another annuity. When the opportunity arises, I've learned to dig deep and ask more questions than just, "Do you have life insurance?"

The art of good questions asked properly is lost if you just do too much rinse and repeat too often and assume more than you should.

Since I write most of my fe people Medicare I ask about " other assets such as cd's or cash around " as many I apply for extra help . Every blue moon someone has a cd . But I'm not touching Mary's cd at the local bank for an uninsured annuity many times with a 5 plus yr surrender charge . I can't imagine if I wrote Mary with Colorado bankers and she needed her money in a yr or 2 . To each his own

 

[WinoBlues]

You need new people.

I sold and annuity in that home and was made aware of another annuity. When the opportunity arises, I've learned to dig deep and ask more questions than just, "Do you have life insurance?"

The art of good questions asked properly is lost if you just do too much rinse and repeat too often and assume more than you should.

10x10

I can point to long threads of clients that came from a claim.
Many were oorphansthat asked that an agent help them.
I happily handle orphan claims.

 

[jdeasy]

I get a lot of business because I handle death claims. And other service work. Moves, new banking, beneficiary changes, etc. A big one for me is getting their annual report for anyone getting any kind of help. From WICS, HUD, Extra Help to full Medicaid. Any kind of assistance and the cash value is a countable asset. Not a big deal other than reporting. Help with that and not only do the current clients refer you, so do the case workers.

Many times, probably most times?, that business doesn't come immediately. Comes in over time. But it comes.

 

[rousemark]

Since I write most of my fe people Medicare I ask about " other assets such as cd's or cash around " as many I apply for extra help . Every blue moon someone has a cd . But I'm not touching Mary's cd at the local bank for an uninsured annuity many times with a 5 plus yr surrender charge . Medicare, sI can't imagine if I wrote Mary with Colorado bankers , friends and she needed her money in a yr or 2 . To each his own

Doesn't have to be annuities. There is a ton of business, FE, Life, Supplemental Health to be written on relatives, friends, neighbors. When they see you providing service by processing the death claim they are more likely to be open to your approach.

 

[WinoBlues]

Doesn't have to be annuities. There is a ton of business, FE, Life, Supplemental Health to be written on relatives, friends, neighbors. When they see you providing service by processing the death claim they are more likely to be open to your approach.

.
A ton of it is not FE or even seniors.

 

[Life Hawk]

I see... well the major difference between you and I is that you sell "Marys" and I sell "Mildreds"...

@DonP But I do agree... if your not capable or feel comfortable sizing up your client and offering financial advice... then you should just leave well enough alone.