Just left NASB (warning to other future naive noobs)

[shonceman]

To say "but doing so might cost me the sale" is not an answer to the question.

You know I’m not saying that, but I’ll clarify in case anybody thinks that’s what I said. What I’m really after is this: When I really believe the fraternal offering is the best option for that particular client, how do I disclose these considerations in a way that doesn’t just end up talking the client out of it, if possible?

 

[rousemark]

You know I’m not saying that, but I’ll clarify in case anybody thinks that’s what I said. What I’m really after is this: When I really believe the fraternal offering is the best option for that particular client, how do I disclose these considerations in a way that doesn’t just end up talking the client out of it, if possible?

Simply tell them that the premiums are guaranteed but in the rare situation where the company were to get into financial trouble they can access an additional amount to the certificate holders in order to keep the company solvent and continue to pay claims. Explain it is a provision to protect the certificate holders.

 

[DayTimer]

You know I’m not saying that, but

I know you're not and I wasn't speaking ot you there. Sorry for the confusion my friend.

 

[Lawsonhj1]

Well, an agent who replaces a whole life policy that has aged past contestability with a GI 2 year ROP ought to lose his or her license forever, imo. Should also do some time in the county jail.

So if extended term bought the client a period of time say 8-9 years I might be the type to consider a GI policy on one of my loved ones maybe I'm wrong.

 

[WinoBlues]

I will replace ROP term with high cash value FU whole life.

I just did a review on a couple of ROPterm cases that I wrote almost 20 years ago. I'll post them.

 

[WinoBlues]

what would constitute a proper explanation of the differences

Maintenance of Reserves


Yeah yeah yeah, 'never going to happen' then guarantee it. Do you trust insurance companies that much? Especially FE companies that everyone says do not pay contestable claims?

Beats the 'look miss Mary l can save you $6 and I'll bet that $100 of cash values could sure come in handy, right?' close.

 

[Life Hawk]

So, given this scenario, would you replace? Why, or why not? (I’m quoting @DayTimer here. But I would love for anybody to answer!)

Yes, I sure would. Because my clients get me, and I know what kind of agent I am. It's to their benefit. "No brag, just fact." (Shop teacher used to say that all the time.)

If you bringing value to a client is nothing more than the numbers you are quoting, then you may be great salesman, better than me by far, but I'm in this as a profession. I'm looking to be a good salesman and a great agent.

 

[DayTimer]

Especially FE companies that everyone says do not pay contestable claims?

I know everyone says this but I have had every contestable claim paid so far - 10 in all. And four of those were paid by two companies that I was warned by others right here on the forum don't pay contested claims.

 

[WinoBlues]

I know everyone says this but I have had every contestable claim paid so far - 10 in all. And four of those were paid by two companies that I was warned by others right here on the forum don't pay contested claims.

Same experience. Had my first not pay a couple of years ago. He just flat out lied to me. 1 out of hundreds of claims.

 

[Life Hawk]

I have had contestable claims. And I would venture to say that if you have any level of production at all you will eventually have them.

I have had prospects right out lie to my face and not skip a beat. Welcome to the public.

Last year I had one with trans. When I found out I called claims and asked how they found that this client had this condition. I asked was it through his meds. The answer was no. I asked them how did you know then. Doctors statement.

Met with the wife and explained the situation. I asked her did he ever say to you he had this condition. The answer was no.

One of three things just happened. The guy lied, the doctor did not explain to him the situation, or the doctor just screwed him.

Note, when you have the condition he had, you take meds for it. There were no meds listed for this condition. The client didn't mention it, and claims did not see it in his med history.

I was pissed!