Quote:
Originally Posted by RANDY P
If you have the lowest price and still can demonstrate value, that's perfect.
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Final expense life insurance is a commodity. Each company is state regulated and will pay if you die within terms of the policy. The variables are price and underwriting. As long as you're healthy and qualify for the best rate in the state and want it, why not take it? It's not like one company's $25k payout is any better than another's.
Ran into a really painful one today. The woman was hard to pin down - either mentally ill or stupid beyond belief. I was starting out from behind when I had to call her to come unlock her front gate. She said she didn't know who I was and might not want to meet. I reminded her who I was and that we had set an appt. less than 24 hrs. ago. She came out, was the nicest lady in the world, invited me in, told me to make myself at home, turned the lights up, offered me water, etc.
She said she had a policy that was 11 or so yrs old, she was paying $109/mo, but didn't know anything else. I called the company and got all the info. She'd had it for seven yrs. and it had a cash value of $2400. I was able to get her the exact same coverage for $42/mo
LESS than she was paying and all that $2400 back. COULD NOT CLOSE HER. She said I might be trying to scam her. I told her she was already scammed seven yrs ago and I was trying to fix it and save her a ton of money. And she has a b-day coming up. Her daughter was home, so I asked her to call her daughter into the room. I was sure she was going to kick me out, but she called her daughter in. Daughter was super nice. I explained the situation to her and she looked at her mom and said, "Why aren't you doing this? He's giving you such a better deal. C'mon, Mom." Could not close her. She has to think about it. This is why she's poor.