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Finding Info on Selling Final Expense by Phone
- Thread starter ling
- Start date
Re: Finding Info. on Selling Final Expense by Phone
What do you mean "the down line can really mess you over"?What do mean by kinda. I am desperatly looking for a company that will do telesales with an electronic signature. who is doing this. I dont want to contract again with baltimore life they are great but the down line can really mess you over.
- 507
Call Ron Archer at The Insurance Group 800-460-5567.
- 25,164
Are you a recruiter?
There is more to being an agent than the sale. You can be sued for what you say and for what you do not say. You can be sued for something the company does or does not do. Hell you can be sued for what the client does not do, if you do not follow up.
I was involved in a deal where the insured died as I was trying to get the policy reinstated. After about 6 months the company settled, to put an end to it. I had to make sure that my name got put on the release.
Do you carry the minimum auto liability because you are a good driver?
Edited: spelled checked before Arn got me
There is more to being an agent than the sale. You can be sued for what you say and for what you do not say. You can be sued for something the company does or does not do. Hell you can be sued for what the client does not do, if you do not follow up.
I was involved in a deal where the insured died as I was trying to get the policy reinstated. After about 6 months the company settled, to put an end to it. I had to make sure that my name got put on the release.
Do you carry the minimum auto liability because you are a good driver?
Edited: spelled checked before Arn got me
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Look, it is not rocket science. When a recording is done with LH or SL there is a script that has to be followed while recording the App. If it is not done correctly the agent has to "re-do" the recording. In essence all recordings are virtually identical except for the customers answers. This then avoids frivolous and irrational lawsuits. The insured is actually on recording answering all questions and verifying every piece of information that is on the application. It's no longer he said-she said at that point like it would be if the app were written in the field. Case CLOSED!
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Obviously, you did not read his response or, if you did, you didn't understand his response. Just keep telling yourself that you don't need E&O. The day will come that you will wish you had listened to the warnings.
Can we move back to the original topic now?
This whole FE by phone 100% has been aggravating me trying to figure out. Some carriers say they do it, but they don't really do it.
Somebody please correct me if I'm wrong here, or expand on this, but this is some of the breakdown as near as I can tell.
The only two carriers that have a true 100% telephone FE product where you can make the call from your home, never have to see the prospect, and complete the entire app right there on the phone with no further action needed by the prospecy are Lincoln Heritage and Standard Life. Both of these have rates on the high side.
Now there are several carriers that have what I would call a "hybrid" phone app process, where you can do the sale and have a conference call to verify medical questions, but then you either have to mail the prospect an app to sign (or somehow get an actual wet signature) or email the prospect and get a "digital" signature. A lot can be done by the phone, but its not completely a phone app. Among these are Assurity, Baltimore Life, and a couple of others I can't remember. Still if you want to do 100% phone sales, like sit in your office and do the whole thing from there, these only partially solve your problem.
And then nobody really knows or has disclosed how Foresters will work.
So is this breakdown right??
This whole FE by phone 100% has been aggravating me trying to figure out. Some carriers say they do it, but they don't really do it.
Somebody please correct me if I'm wrong here, or expand on this, but this is some of the breakdown as near as I can tell.
The only two carriers that have a true 100% telephone FE product where you can make the call from your home, never have to see the prospect, and complete the entire app right there on the phone with no further action needed by the prospecy are Lincoln Heritage and Standard Life. Both of these have rates on the high side.
Now there are several carriers that have what I would call a "hybrid" phone app process, where you can do the sale and have a conference call to verify medical questions, but then you either have to mail the prospect an app to sign (or somehow get an actual wet signature) or email the prospect and get a "digital" signature. A lot can be done by the phone, but its not completely a phone app. Among these are Assurity, Baltimore Life, and a couple of others I can't remember. Still if you want to do 100% phone sales, like sit in your office and do the whole thing from there, these only partially solve your problem.
And then nobody really knows or has disclosed how Foresters will work.
So is this breakdown right??
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Senior Life does 100% over the phone FE sales. They were the originators back in 2002.
I sort of lump them in with Lincoln Heritage
- 25,164
Oh..... OK. I guess I was wrong. As long as you got them on tape, you got them. I feel like such an idoit paying for the E&O insurance. You would think that I would learn after all these years.
You win. as you said Case CLOSED!
Good luck.
