Real Horror Stories.

[Gooner]

Projections based on averages and assumptions are nice. However, percentage of people who actually follow through with BTID are rare. That being said, there are a lot that buy some form of permanent when young then either borrow to the hilt or cash it in only to later realize they should have kept it and left it alone. Many do the same with their house. Buy with little or no money down then constantly use cash out refi to finance their lifestyle. We are a nation of spenders, not savers. That includes DC.

Yes sir...I agree.

 

[Rearden]

Yes sir...I agree.

You talk about Mental Masturbation in regards to the FE business - this on-going Term versus Whole Life conversation and its tangents take the cake!

How about selling something that someone wants? Better yet, educate the prospect in the basics, get a budget commitment, as show him what his budget can buy in term or whole, and let him decide?

 

[Gooner]

You talk about Mental Masturbation in regards to the FE business - this on-going Term versus Whole Life conversation and its tangents take the cake! How about selling something that someone wants? Better yet, educate the prospect in the basics, get a budget commitment, as show him what his budget can buy in term or whole, and let him decide?

I just get tired of people saying it's the insurance agents fault.

How many people have you met with that bought term in their 30's and 40's and now act surprised that their policies are "terming" out...too many to count for me.

I would guarantee that most, if not all, of these people were told what they were buying. Time gets in the way and they forget.

People love a "financial" plan until they forget about it or life gets in the way...they take the cheap way out with term and get lazy with the rest...I have no sympathy for stupidity.

 

[Rearden]

I just get tired of people saying it's the insurance agents fault.

How many people have you met with that bought term in their 30's and 40's and now act surprised that their policies are "terming" out...too many to count for me.

I would guarantee that most, if not all, of these people were told what they were buying. Time gets in the way and they forget.

People love a "financial" plan until they forget about it or life gets in the way...they take the cheap way out with term and get lazy with the rest...I have no sympathy for stupidity.

Yep - we are all personally 100% responsible for the outcomes of our life, whether we believe it or not.

 

[somarco]

No doubt there are agents out there willing to do anything to make a buck. That includes lying.

There are others that have good intentions but are ignorant about the product and solutions they are selling.

And there are gullible buyers.

In a perfect world everything would work out as it was supposed to. Doesn't always happen that way.

One thing I can't get used to is women calling, wanting to know what to do about their Medigap plan. Their husband, my client, just died. In each case the lady said (my husband) said if anything happened to call Bob. He will know what to do.

Took one of those calls yesterday. It never gets any easier.

 

[sshafran]

The news is littered with examples. Every time you hear, "a fund has been set up" that is code for, "they had no life insurance to pay for the burial".

Yes - I just did a local search on gofundme and there are lots and lots of funeral campaigns...

 

[rousemark]

Or I could actually invest the difference and have $800-900k in a retirement fund in the same 20 years...using 7% interest...which is far below what I average.

That is true.. but what happens when the bottom drops out of the market (stock or bond) at the precise moment the money is needed? Only a permanent life insurance plan guarantees to deliver a set amount of money at the time it is needed no matter when that time occurs. Markets crash, term runs out.

 

[Gooner]

That is true.. but what happens when the bottom drops out of the market (stock or bond) at the precise moment the money is needed? Only a permanent life insurance plan guarantees to deliver a set amount of money at the time it is needed no matter when that time occurs. Markets crash, term runs out.

Absolute, total, unadulterated garbage. Congratulations...as Dave so eloquently quoted me, "mental masturbation"

----------

Absolute, total, unadulterated garbage. Congratulations...as Dave so eloquently quoted me, "mental masturbation"

Let me be a little more clear...today, I have a need for 2 million in temporary coverage...if I need the same coverage in 20 years then I am a dumbass. Plain and simple. Considering all of my debts are on 10 & 15 year notes...which they will be lucky to see...

So the garbage comment is directed towards a "broke" way of thinking. Make a plan, stick to it, ride the waves and retire rich. Oh yeah, I did that already..4 years ago.

 

[sshafran]

Make a plan, stick to it, ride the waves and retire rich. Oh yeah, I did that already..4 years ago.

You retired?

I obviously don't know your story / background. Why still sell FE?

 

[Gooner]

You retired? I obviously don't know your story / background. Why still sell FE?

I sold a business 4 years ago...retired being that I don't do anything that I don't want to do. I really don't have to work, but I enjoy it.

I took a couple of years off and decided that too much golf and alcohol was bad for me...also doesn't hurt that my runs our preschool