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Does anyone have any experience with this company?
A friend's mom bought a policy from them.
He's leery. His mom has been duped many times by the mail and phone.
Thanks for your responses.
My friend's parents are 86 and 82.
I think they were shopping for final expense insurance.
Stonebridge is owned by Aegon Insurance. They run sweepstakes or shopping spree contests and people call in to enter. The agents, after entering them, present to the AD&D insurance to buy. Its a legitimate company and product, if that's your question. Is it something she needs? That's another question.
I spent some time selling these over the phone through a virtual call center setting. Stonebridge stuffs a "you could be an instant winner" or "sign up to win a $5000 shopping spree" flyer in the envelope of JC Penny credit card holders. Lots of them go out through the mail as a postcard as well, but they only send to JC Penny credit card holders.
When the caller calls, we would capture their information right off the bat ( lead ) and since they called, they are now NOT on the DNC list, and Stonebridge would now have them as a lead even if they did not buy. We would check a "customer number" that they would read back to us that was printed on the card. "Oh, I'm sorry but it seems that you are not an instant winner today" and then we would proceed to offer them the AD&D plan with Stonebridge. You would be suprised how many would take it.
They would also offer a Modified Whole Life policy. They would mail to the credit card holders just before their birthday and inform them that if they bought now they could save $ on their premium by not waiting. The postcard had the rates right on it, but did not include the EFT discount. When we would present them with the monthly rate with the EFT discount, they would say "That's even less than what's on the card". They were $10K policies with return of premium in the first 2 yrs. GI.
It was a good filler during slow times, but not a way to make a living. I averaged $30 an hour when the calls were flying in, but couldn't sit there more than a couple of hours at a time. I'm still set up with them but haven't taken any calls for a couple of months. Some days I would sit there for hours and never take a call. It's not very predictable.
SoKYBrian