Neishloss& Fleming Inc.

Last week we delved into Monumental Life‘s discounted direct mail lead program priced at $275 per 1000 mail pieces, as well as their training resources for their agents (Call us for details if you missed last week’s newsletter).  But when and how can their product be used most successfully?

Monumental Life‘s simplified issue life application allows agents to sell an immediate or level death benefit to more prospects than most other carriers.  The immediate death benefit offers both Preferred and Standard rate classes, and some health questions can be checked “yes” while still allowing for an immediate benefit.   Here are some recent  cases where Monumental’s application helped one of our agents make a sale.

• Case #1 — Prospect is a 62 year old insulin dependent Diabetic (type 1), and was diagnosed around age 45.  He recently lost a brother who was actually younger than himself, and that unexpected loss prompted him to contact our agent about life insurance.  Due to the circumstances of his brother’s untimely passing, our agent did not want to present a graded benefit.  Monumental is the one final expense product that we carry – or even know of — that can offer a diabetic diagnosed at age 18 or older an immediate death benefit, even if they are insulin dependent.
• Case #2 –Prospect recently applied for and was declined life insurance by another carrier.  This agent’s primary carrier would not consider this prospect for 2 years after the decline, and the agent called us to find a different product.  Monumental does not ask about or hold insurance history against the applicant, so the case was ultimately sold.
• Case #3 –Prospect is extremely overweight, but besides that has no other medical conditions and was age 39.  First, many other final expense products are not even available below ages 45 or 50.  Secondly, height/weight is usually asked on the application.  This client was well over every build chart we’ve seen, but Monumental Life does not ask for height/weight.  With no other health conditions present, the client was eligible and the sale was made.  Minimum Issue age for the immediate death benefit is 0 (zero), and for the graded benefit it is 18.

There are certainly other areas or situations where Monumental Life‘s unique application and underwriting guidelines can help increase your business.  Please don’t hesitate to give us a call with your next problem life case.  We’ll be happy to help in any way we can!

N&F has a well balanced portfolio of carriers offering Simplified Issue Whole Life products designed for the low to middle income senior market.  Commonly referred to as “Final Expense”, these products are perfect for prospects that recognize the need for life insurance but do not want to undergo full underwriting (and wait 6 weeks for their policy to be issued).  Face amounts are generally low (around $10,000) and premiums are reasonable (around $600/year).  Finding these prospects can be difficult and expensive; however, closing the sale can be difficult as well.  

One of our lead final expense carriers, Monumental Life, offers some answers.   They have a competitive product with a unique application that can offer coverage to a very wide range of prospects.  If I had to pick one company and one application to use with every Final Expense prospect, I would choose Monumental. 

But how do you find Final Expense prospects?  Monumental can help with their Final Expense mailing/lead program.  Priced at $275/1000, agents can send direct mail reply cards to an exclusive territory using age and income parameters of their own choosing.  These reply cards are not recycled, and no other agent in the Monumental lead program will see them.  They belong to each individual agent.  No other Monumental agent will be permitted to mail to another agent’s territory either.  $275/1000 is the lowest mailing cost we have seen in years, and if you know how to work direct mail reply card leads I would strongly encourage you to take advantage of this low price.

OK, but what if you don’t know the best or most productive way to work direct mail reply card leads?  Maybe it’s been a while and you know you are a bit rusty?  I started out in this business in ’83 going door to door selling accident, sickness and life policies.  Believe it or not,  I was successful.   It’s been a while though, and I’m sure I could use some refresher training and sales tips before I plunk down hundreds of dollars for leads.  However, I certainly don’t want to sign up with a captive company and go away for 2 weeks of sales school just to be paid low first year commissions…

Not to fear, Monumental has teamed up with the Legacy Safeguard organization to provide some of the best final expense agent training resources I have seen in a long time.  Available at no charge to all Monumental agents, these training videos can be viewed on their website or ordered in paper form.  This is common sense training that has been sorely needed and neglected for years.  In addition, Legacy Safeguard offers “End of Life” planning tools and assorted discounts on merchandise/services for all your clients.

Taken together as a package we believe Monumental Life can provide the product, the leads and the training we all need to market final expense successfully and productively.  But wait, compensation is there too, with NO REDUCTION in commissions!