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I use NGL for preneed no problems at all. In some cases actually works better than traditional final expense and can be strategically used as a final expense product. Last week I was able to place a 90 year old on a 3 pay with first day coverage. For guaranteed issue at age 85 NGL 5 pay is less than AIG and if they live long enough paid up in 60 months.
My commission on a 90 year three pay is over 20% of the face amount or funeral price. I'm advanced 75%. In Tennessee I would think you wold still get mainly traditional funerals even in the back woods. I write cremations no kidding as low as $555 if no ability to cross sell I would leave the funeral business after 30 years. Once in a while I get an email and computer literate client and can take care of it by phone that help increase my per mile return.
My commission on a 90 year three pay is over 20% of the face amount or funeral price. I'm advanced 75%. In Tennessee I would think you wold still get mainly traditional funerals even in the back woods. I write cremations no kidding as low as $555 if no ability to cross sell I would leave the funeral business after 30 years. Once in a while I get an email and computer literate client and can take care of it by phone that help increase my per mile return.
You understand preneed and it's place. This 90 year old lady was actually single pay direct cremation purchaser selected three pay when given option. She lived on golf course in gated community felt better hanging onto her money. Charge back full first 6 months then prorated for next 6 months not sure better options but I do learn from you. She also answered health questions no amazing at her age sharp little lady knew what she was doing. I was just asked if I made any money on the deal and even a little cremation at 20% of face is better than the 1% Mudhound is claiming.Right. But your 90 year old is going to pay $16,000 for a $10,000 policy over 36 months. And if they die within the 1st 12 months you lose your commission. Right?
I don't see that as a good option for agents to sell at all. Unless I'm missing something.