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 Posted: Mon Oct 27, 2008 3:15 pm Post subject: FE |
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Scott,
Have you ever sold Baltimore Life. I am selling BL and it is 100% over the phone. Also pays pretty good for no driving. |
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Mcampbell
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| Posted: Mon Oct 27, 2008 3:17 pm Post subject: |
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They prefer (may be manditory now) pay pal...I've cashed out I don't know maybe four or five times...yes they actually paid me 
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Lori
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| Posted: Mon Oct 27, 2008 3:28 pm Post subject: fe |
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| Thanks Lori, I had no idea. |
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Mcampbell
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| Posted: Tue Oct 28, 2008 12:27 am Post subject: |
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Mcampbell,
No I havent sold Baltimore Life, They seem like a quite good company. I've taken a good look at Telephone sales, I just dont seem to like them. Seems to me you have to just love the word "NO" to try telesales for FE.
Maybe Im wrong.
Scott |
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psrayburn
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| Posted: Tue Oct 28, 2008 6:01 pm Post subject: FE |
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| Good point, its a easy sale when you get clients that are willing to listen. They say NO some but not as much as I thought. |
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Mcampbell
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| Posted: Wed Oct 29, 2008 6:24 pm Post subject: |
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Lori is correct. While the death benefit is not taxable, the products (plot, casket, flowers, etc.) are. A large funeral could run up a healthy tax bill.
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Please feel free to go to my website at www.markcolbert.com or, if you have a specific question, you can email me directly. I hope I can answer any questions you might have. If not, I can certainly find an answer right away. |
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InsInvestigator
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Location: Central California
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| Posted: Wed Oct 29, 2008 6:33 pm Post subject: |
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FE will give you "products" for a funeral? I thought it was just cash.
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LifeIsGood
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| Posted: Wed Oct 29, 2008 6:45 pm Post subject: |
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Hello everyone,
In the past 15 years, I've investigated several companies that sold FE, Pre-need, and other types of burial insurance. In fact, I even got to close down a couple agencies in the San Jose, CA area.
Here's the most common "test" of an FE or similar type policy.
A couple pages ago, we were discussing a $25K policy on a 50 year-old for $75 per month. For sake of argument, let's assume that neither the death benefit or the premium will change in the future, the insured is healthy, and expects to live to his life expectancy (as determined by the the most recent COS table)
$75 per month is $900 per year and if he lives to age 84 he will have spent $30,600 on a $25,000 death benefit. Where, I ask, is the value?
"Well, you might reply, what if he dies at age 75?" Then, I would say, he needs a type of life insurance and not FE or pre-need. Let's sell these policies to people who already have one leg in the ground and are busy with their estate planning or disbursing assets.
Don't outlive your FE or pre-need policy.
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Please feel free to go to my website at www.markcolbert.com or, if you have a specific question, you can email me directly. I hope I can answer any questions you might have. If not, I can certainly find an answer right away. |
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InsInvestigator
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| Posted: Wed Oct 29, 2008 6:48 pm Post subject: |
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FE will give you tax free money to buy products. You must pay the taxes on those products.
_________________
Please feel free to go to my website at www.markcolbert.com or, if you have a specific question, you can email me directly. I hope I can answer any questions you might have. If not, I can certainly find an answer right away. |
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InsInvestigator
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Location: Central California
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| Posted: Wed Oct 29, 2008 6:57 pm Post subject: |
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| FE is for a funeral take your life policies for the family to spend and FE for a funeral. Nobody knows when they will die just like I don't know when or if i will wreck my car. Why have car insurance or a selt belt. Everybody has more then one policy on themselves. I had a co worker whos husband just passed away and she has to pay 3k out of her own pocket to cremate him. He was 56 and would of only paid around 4k for a 25k policy. Now she doesn't have the money for a nice funeral he deserves. |
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Mcampbell
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| Posted: Wed Oct 29, 2008 7:02 pm Post subject: |
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I'm healthy. I pay $85 a month for a 100K Life Insurance policy. I die. My beneficiary takes the proceeds that he received tax free and pays for my funeral (and associated taxes).
Sorry...but I'm still thinking the having 75K left over 75K is a better option.
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Life moves pretty fast. If you don't stop and look around once in a while, you could miss it. - Ferris Bueller |
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LifeIsGood
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| Posted: Wed Oct 29, 2008 7:08 pm Post subject: |
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| Not everybody can qualify for a 100k policy. Also it is for people that want a smaller policy not a large 100k policy. Its for a funeral of 5-10k which you would only pay 30 bucks a month. Not everubody can pay 85 a month for 30 years. I understand the 100k policies I use to sell them but you have to realize people just want to make sure they can pay for there funeral. |
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Mcampbell
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| Posted: Wed Oct 29, 2008 7:39 pm Post subject: |
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Using Ins' post (and my earlier post) as reference, my 75K left over is valid.
Why would a perfectly healthy individual want to pay $75.00 a month for 25K when he/she can pay just a few dollar more for four times the benefit?
Yes, if someone is of ill health and can't qualify for a "normal" policy, then FE might be just the thing.
But that wasn't our scenario.
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Life moves pretty fast. If you don't stop and look around once in a while, you could miss it. - Ferris Bueller |
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LifeIsGood
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| Posted: Wed Oct 29, 2008 8:08 pm Post subject: |
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| Quote: | | FE is for a funeral take your life policies for the family to spend and FE for a funeral. |
Why couldn't the family spend the life insurance proceeds on a funeral?
| Quote: | | Everybody has more then one policy on themselves. |
I don't.
Be advised that Piggybacking or multiple-policy sales are often not a benefit to the insured. In fact, in some cases, they can be downright harmful - and illegal.
_________________
Please feel free to go to my website at www.markcolbert.com or, if you have a specific question, you can email me directly. I hope I can answer any questions you might have. If not, I can certainly find an answer right away. |
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InsInvestigator
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Location: Central California
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| Posted: Wed Oct 29, 2008 8:51 pm Post subject: |
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| What I am trying to say is that a FE policy is for people only wanting a 3k-15k policy and maybe 25k depending on there health. Its not for everybody and I understand getting a 100k policy but what if you want 3k. Don't want to upset Sherlock Holmes over here. |
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Mcampbell
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