I cannot believe my eyes

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PostPosted: Tue Jul 06, 2010 8:52 pm   Post subject: insurance  

I've already given a few of my 'clients' this Insurance informtion, how to get ahold of the broker, etc. Thery're (my 'clients') are pretty excited about it!!

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PostPosted: Fri Jul 09, 2010 5:59 am   Post subject:   

Quote:
The "free" insurance conversation started simply to point out that there is such a thing as free insurance and there aren't strings attached. Most conversations about free insurance involve somebody trying to sell something.




Actually, the post I started was based on my disbelief at the suggestion that there was a "free insurance product" being marketed to wealthy persons.



I, like a number of others, was unaware of the LifeBridge program from MassMutual, which was directed at an entirely different type of insured, and from all appearances is/was a remarkable program.



But it does/did come with its own set of significant "strings" attached and intended to prevent most persons from obtaining it. The program was due to expire at the end of 2009 (subject to reevaluation), so I don't know if it still operates, or in what states it was ever approved for marketing.



The "agent solicitation" I posted is most likely being misrepresented when it uses the term "free" or "no premiums".


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PostPosted: Sat Jul 10, 2010 4:15 am   Post subject:   

It's a pension plan with a free health check up.

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PostPosted: Sun Jul 11, 2010 2:36 am   Post subject:   

[/quote]was unaware of the LifeBridge program from MassMutual, which was directed at an entirely different type of insured,

Quote:
I looked at the Mass Mutual website and couldn't find anything on it. "..different type of insured.." How different? What makes the insured different, in this case? I guess this LifeBridge is not making sense to me.
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PostPosted: Sun Jul 11, 2010 8:06 am   Post subject:   

OK, so you couldn't follow the link. I did, and on Pg 2 of this thread, fourth post from the bottom of the page, just above one of yours, I copy and pasted the most important aspects of the program -- age and income requirements -- and the fact that it is limited to one per qualifying household.



It's not that the insured is "different" per se, but the "target market" so to speak. The target of this program is the same kind of person who often gets solicited for "home service" (or "industrial") life policies -- very low value and relatively high cost whole life policies (in CA, the total amount of such insurance on any one life is limited to just $10,000, so the MassMutual program has/had somewhat greater value).



But, in my view, the MassMutual program is/was mostly a public relations thing. Excellent motives, but greater PR value for their agents who could say to more affluent clients, "Here's the kind of company we are." Works for me.



Many other insurance companies are just as philanthropic when it comes to supporting underserved communities, just in different ways than free insurance.



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PostPosted: Sun Jul 11, 2010 8:03 pm   Post subject:   

Yes, the Lifebridge program is good PR for MM. That being said, an insurance company or any business, would be foolish to not do their charity work in a way that gives them quality PR. It seems like giving away free insurance is a good way for an insurance company to give back. As was said earlier, the biggest challenge with the Lifebridge program is that it turned down that it's actually quite difficult to give away free coverage because people don't believe that it's free.


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PostPosted: Mon Jul 12, 2010 2:07 am   Post subject: insurance  

You can't really blame people, can you? Usually when companies say "something is free", consumers just ASSUME it's a scam. Probably from bad experiences, etc.,..I would think.

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PostPosted: Mon Jul 12, 2010 2:56 am   Post subject:   

It is really not possible to give'freebies' all the time.It could be a tool for promoting your business/brand but that can not become regular practice at least insurance can not be sold like this.

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PostPosted: Sat Jul 17, 2010 5:43 pm   Post subject: insurance  

Good point, DIMG. You can't advertise that something is 'free', when it's really not. In some cases, you find out when it's 'done and over with', that it's NOT free. That does 'hurt' the person/company selling whatever product they are trying to sell.

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PostPosted: Sun Jul 18, 2010 3:09 pm   Post subject: Free Life Insurance  

Here is how it works, I went to a meeting! A Donor of a charity loans a large amount of money to a charity that purchases a SPIA with it and then pays the Donor back 4-5% interest for life. When the donor dies, the original loan is paid back to the family and the charity receives a lump sum up front. For instance, (this is an example only and not hard numbers, so those of you ready to pounce, back off!) Donor loans 500K but it only takes 450k to produce enough of a life payout to pay for a life insurance for 500k and pay interest of 4-5%, charity would receive 50K up front as a donation. That is how it is free. Shop around for the best life only payout and lowest life premium / underwriting, this can be achieved.



Now this organization wants 50K from the brokers to get licensed with them to use their program and also wants 50% of your commissions.



By the way, good luck with the Life Bridge program. If you give this information to your clients and they send it in, Mass Mutual will send one of their career agents out and write other business in your house and get the referrals you wanted.





[edited by dgoldenz to remove spam portion]


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PostPosted: Sun Jul 18, 2010 9:21 pm   Post subject:   

Quote:
By the way, good luck with the Life Bridge program. If you give this information to your clients and they send it in, Mass Mutual will send one of their career agents out and write other business in your house and get the referrals you wanted.




Wrong. First of all, the agents involved are prohibited in soliciting for any business through this program. Secondly, eligible people for this program aren't clients that anybody wants. People with household incomes of less than $40K are not prospects.

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PostPosted: Sun Jul 18, 2010 9:25 pm   Post subject:   

Quote:


Now this organization wants 50K from the brokers to get licensed with them to use their program and also wants 50% of your commissions.




HAHAHAHAHA, seriously? wow.


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PostPosted: Mon Jul 19, 2010 12:51 am   Post subject:   

Quote:
50K from the brokers to get licensed with them to use their program and also wants 50% of your commissions




Any chance I could line up one of those "investors" to pony up the $50,000 for an appointment?



And there are people who think it's the insurance companies that are ripping off their clients


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PostPosted: Fri May 24, 2019 9:07 pm   Post subject: היי  

?היי יש לי לקוחות חדשים בשבילך יכל לעניין אותך


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