This past month some of the biggest Medicare only telesales fmo shops have added life divisions

It's time consuming and many times i have to door knock them to save . Few few agents will do that .

Few agents will do it because the majority would know this isn't allowed. You can't contact a disenrolled client solely based on the fact they are disenrolling. This type of behavior could not only result in permanent appointment termination but a DOI investigation. This is a scare tactic.

If it were me, I'd have a huge problem with this and feel extremely uncomfortable. TBH have you considered they remained with you because you made them uncomfortable....

While these are seniors, and at time uneducated, at the end of the day they are adults who are capable of making decisions--regardless if you feel their decision was right or wrong.

I could understand a call (even though this is still wrong) but to show up at their home... that's a different story. Please don't do that. This is why they created these rules in the first place.
 
Few agents will do it because the majority would know this isn't allowed. You can't contact a disenrolled client solely based on the fact they are disenrolling. This type of behavior could not only result in permanent appointment termination but a DOI investigation. This is a scare tactic.

If it were me, I'd have a huge problem with this and feel extremely uncomfortable. TBH have you considered they remained with you because you made them uncomfortable....

While these are seniors, and at time uneducated, at the end of the day they are adults who are capable of making decisions--regardless if you feel their decision was right or wrong.

I could understand a call (even though this is still wrong) but to show up at their home... that's a different story. Please don't do that. This is why they created these rules in the first place.
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Yea the 1% is so lucky they died for $3-10K.

I don't care what anyone or any insurance company says—Final Expense (FE) insurance is designed for low-income and middle-class individuals.

Now imagine I'm speaking with someone who has a low income. They don't have a checking account or a credit card, yet they want an FE policy for $100 a month for a $10,000 death benefit. For someone on a tight budget, that $100 could make or break them financially. That's taking advantage of someone—with no significant payout to justify the cost.

Now, let's say you're marketing to a middle-class person. Sure, they can afford it, but the question is: why would they? Middle-class individuals are likely to live longer. If they pay $100 a month for 10 years, they'll have paid $12,000 into a policy that only pays out $10,000. That math doesn't add up—it's a bad deal, if not a scam.

Insurance companies and brokers are counting on these policies lapsing. They know many clients will keep the policy for a year or two, and when money gets tight, guess what gets dropped? Then, after a couple more years, the broker can come back, rewrite the policy, and earn another commission.

I've sold Final Expense insurance—and I couldn't sleep at night.

Why would you sell FE to a middle class person? FE is a life insurance product for people who can't afford burial AND don't qualify for underwritten policies.
 
And vice versa . Fe agents suck at Medicare retention on low income clients as they're so used to selling , selling and having zero service work . Thats why few fe agents make it long term in Medicare as it takes massive service to make it work combined with building loyalty over yrs . .l And that service from a Va won't cut it . 2 different worlds fe and mapd .
Ya, our pitch several years ago was to start with FE, then build into Medicare within a year or so.

Out of hundreds if not thousands of recruits, I can count on one hand where that strategy actually worked.

Incidentally, we dropped Medicare and ACA recruiting two years ago.
 
Are you kidding? You don't have that new zero premium FE that has a free dental plan, gym membership and no health questions?

It's called TrumperCare. But you have to go to a network funeral home.

They bury you right beside his ex-wife at his country club...


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FE is a double edged sword for society.

You cant save people from themselves. However, you also dont have to participate in their downfall.

Just like every industry, there are predatory sales practices. But there are also legitimate uses and needs for FE.

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Some people have a legitimate need for a FE policy.

They have health conditions that prevent a FU policy. And they have the income/need to make the policy a suitable purchase.

They key, is having the income to make it a suitable purchase. Many low income FE clients are oversold, relative to their income.

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Others, are a demographic who have a need for burial insurance, but would never go through the UW process of a FU policy.

Or, their financial situation makes it very likely they will lapse... and the agent does not deem the situation worth taking the time a FU policy would require.

These are people in a situation where they an incapable of saving properly, they need the leverage of the policy for that expense if it happens.

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The biggest issue I see in the FE industry is the greed for the highest comp possible.

Selling carriers because of the comp they pay, and not because of the quality of the product and carrier.

The big IMOs pushing "top comp" and marketing based on comp trickles down to the general vibe and mindset of the sector.

There is a turn-and-burn mentality, many assume the client will lapse so it doesnt matter what policy is sold. Ive heard IMOs pitch that before.

There are some who 100% have a business model of preying on the poor and those who are financially unsophisticated.
 
Why would you sell FE to a middle class person? FE is a life insurance product for people who can't afford burial AND don't qualify for underwritten policies.

You answered your own question "FE is a life insurance product for people who can't afford burial AND don't qualify for underwritten policies."FE SIWL is a life insurance product for people who can't afford burial AND don't qualify for underwritten policies." Quote - corrected for clarity.
 
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