Transcription
Happy Monday! Welcome to Final Expense T.E.S. Sales. My name is Dana Niss. I hope you guys enjoyed your Thanksgiving last week. I posted an interview with Amos, who was at the time the number one agent in all of Lincoln Heritage. He ended up finishing number nine in the country with over $35,000 of issued production. During the interview, we played a small portion of one of his calls, and I said if you guys wanted to hear the whole call, let me know and post it in the comments. A bunch of you did, so today I am bringing you that call. I actually believe it was a manager-assisted call, so you're going to get a two-for-one here. You're going to get Amos with an excellent discovery, and then a little bit way through, you're going to have a manager that's going to jump on and take the call home.
If you're interested in joining our agent training program, it is specifically designed to help agents shorten that learning curve and feel more comfortable and confident on the phones because you have a manager and a support team there to pick up those pieces for you and help you sell more policies than you could do on your own, especially when you're learning. If you are just now finding this channel, thank you for being here. Again, my name is Dana. I run a T.E.S. sales team for Tailored Legacy. We sell final expense insurance over the phone with one carrier. My job is to help you have stronger, more sophisticated sales conversations.
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We have 19 business days in December. I say 19 business days because I'm not including Christmas Eve or Christmas, and I'm not including New Year's Eve as well. Actually, it might be 20 days, so maximize those days. That is all we have left in the year, and there's no better way to get some motivation than to listen to a call. I hope you enjoy it. There will be no discussion; I'm just going to let you listen to the call, and I may pop back in at the end. Happy Monday, and have a great week!
Hello, hello, hello. Benny? Yes, this is Amos calling, and I noticed that you recently inquired to possibly look at some coverage for out-of-pocket fun. Yeah, I just had a chance to get back to you and see if I could help.
Okay, so how much would it cost for a guy like me that's 64 years old? 64, you said? Yeah, I'll be 65 in March. In March, okay, gotcha. Definitely, I'll get that price for you. I'm not sure if you're aware, Benny, but there are like 10 different types of life insurance policies, and kind of without knowing exactly what you might need it to take care of, I wouldn't yet know where to begin.
Does that make sense? Okay, what about sick and accident or just straight life? Straight life is the cheapest, though, ain't it? Well, there are a few different types of life insurance. Okay, and were you looking at this to take care of, I mean, I guess what exactly are you looking at it to take care of? Funeral expenses and leave a little something for the family.
Okay, how much were you looking to leave behind? I don't know, about maybe $25,000? Yeah, okay. All right, and funeral expenses, maybe $25K. Well, what caused you to start looking at something like this in the first place, Benny? I just lost a son to cancer a couple of months ago, and he wasn't—he was just in his 30s. So, Lord knows, you know, I'm pushing it in order to make it to 60. It's getting time ticking on me, and I got to leave them a little something. Man, their mama died years ago, you know? That's why I had to come to California because we're from Indiana, and all them was born in Indiana, but she brought them up here, you understand? And they've been up here since they were kids.
Okay, so all of them are grown now, and I just want to leave my list up, you know, on the way out. Sure, well, how many kids do you have? I got four—four, three boys and a girl. I had five; one of them just passed. I had four boys and a girl.
Okay, well, before we look into this, Benny, I do need to let you know the call may be monitored and recorded for quality assurance. Okay, I just—I have a few questions I guess I'd like to, you know, kind of get a better understanding of everything. Would that be okay? Yeah, go ahead.
All right, so you said currently there's no—you have no policy in place, is that right? That's right. Okay, right. All right, what about any sort of a safety net like savings or investments or anything that might be there to kind of help ease the burden? I have nothing. Nothing, nothing, nothing but an SSI check once a month, and that ain't but $1,000. That ain't no money.
Yeah, are you able to survive on that? Not really. Went for my daughter and my family helped, I wouldn't make it. Gosh, yeah, I know with the price of everything these days. I hear you. You're not in California, right? Oh, tell me about it.
Yeah, so I guess what have you found so far as far as insurance goes? The closest I got was like $300 a month; that was for straight burial, you know? And I told him I couldn't afford it like that because that's just giving money away to be put in a hole. No, okay, and $300 a month? Everything going up? Yeah, everything's going up every day.
Yeah, you're right about that. How much coverage did they provide with that $300 a month quote? Oh, that was just straight life. Oh, I died by sick or accident, you know? That wouldn't have made no sense, but it was just straight life. So I'm trying to get sick and accident coverage, you know, in case I get hurt or if I lose a limb. Now, my meal where I used to work, they cover me for sick and accident in case I do lose the limb or die or whatever. They give my family up to $2,000. That's for burial. They have social security to give you that much, but you know, it's so expensive, man. It's kind of hard to just pick.
Yeah, I know. Well, have you—you said you had coverage through your work. Have you ever had any other type of life insurance for yourself? Yes, I had Mutual Omaha, but their rates kept going up; I had to drop them. Yeah, and I had Physicians Mutual, and once I moved up here, they no longer covered me, so I had to start over.
Okay, all right, and your Mutual of Omaha, how much coverage did you have with them? Just $10,000. Okay, rates kept going up. Yeah, I hate that. I hate that.
Yeah, how much is $10,000 a day for me? That my age for you? Well, let's look at that. You know, and it does depend a little bit on health and, you know, things like that, so we'll ask you a few health questions to figure out what you qualify for, and then we'll take a look at some options that we have for you.
Now, just so I can get a clear picture, though, Benny, have you by chance given thought to whether you prefer like a traditional burial with a plot, casket, headstone, or do you prefer cremation instead? I think I go with the cremation. I'm quite sure that's cheaper, ain't it? You're right; it is. Yep, the cremation.
Okay, all right, look at cremation. Is there anything special you want your family to do with the ashes once they have them, like spread them over an ocean, keep them in an urn, anything like that? I don't want to hang around no more. Once I'm gone, I'm gone. I don't give a damn what you do with them. I ain't gonna be here. You don't give a— but I have no special wishes after that, you know? My wishes as now is for the living. See, when I'm dead, I'm dead, and I'm trying to provide for the living. I mean, ain't nothing I can take with me.
Yeah, you're right about that. We can't take anything with us when we go, so yeah, this is for those left behind. I hear you. Right, um, all right, well, tell you what, Benny, I have an underwriter on the line with us, and he'll go over the options that we have for you here and some pricing for you, and then you let us know where you'd like to go next.
Okay, that's not gonna help you today. All right, we have Benny on the line with us out of California, and I have his birth date as—okay, is that correct, Benny? Yes, that's correct. Perfect.
And he's just looking for cremation and hopefully leaving some money behind to his four kids. He was hoping to maybe leave $25,000 if possible but open to looking at less. He recently lost his son to cancer, very young guy, yeah, and so he's just now trying to get prepared to make sure something were to happen, he's taken care of.
Sure, he's gotten a few quotes—$300 a month for one quote for burial. Yeah, and so one thing that's also important to Benny is to have the accidental that we offer to make sure if he gets in an accident, something like that, his kids and himself are taken care of.
Yeah, okay, well, let's take a look at that. I'm really sorry to hear about your son. Wow, that's tough. So, yes, sir, so what I'm gonna do is just kind of go over a few things. This will help you out whether you choose to work with us or you choose to work with another carrier. There are just important things that you need to understand about coverage and how it works and how the funeral system— even though I got a feeling that you already know firsthand how the funeral system works.
I know firsthand, yes, sir, yes, sir, yes, sir, and I'm sorry about that. But let me kind of go over a few things anyway. You may or you probably already know some of this stuff, but let's do a quick refresher. Now, you know when someone passes away, that death certificate is the first thing that's needed. I've seen it take a couple of days; I've seen it take a week; I've seen it take two weeks. You know, you want to make sure that you understand that it's not going to happen overnight.
Then the insurance company has their own turnaround time, and that could be two to three weeks. In the meantime, the funeral man wants his money now. He is not picking up nobody unless he knows how he's getting paid. So the option that the funeral home will give is to do what's called an assignment of policy, and that's just when your family assigns the policy to the funeral home because you want them to pick you up and take care of things, you know?
Now, the only problem that I see with that is that the agent had told me that you were looking to make sure there was something extra left for your family. So if we're talking about you having $25,000 and now you got a cremation that should only cost $1,000 or a few thousand or whatever, but you're handing over a $25,000 policy. Now, you probably know the funeral man like I know the funeral man, and you know that that $3,000 cremation is going to turn into a $10,000 cremation real quick when you hand that money over like that.
So we need to avoid that nonsense because, you know, it's just the funeral home. They're not just not—it's not a charity business, you know? They're out to make the money, and they're going to do it any way they can. Okay, what I call emotional spending, you know? They get your family in the room, and they try to get you to spend more money because they know how much insurance is on that policy, and they're trained to get as much out of you as possible.
So what we do is different, okay? We pay the family because we know what the funeral home does, but we pay the day you're gone. We don't require the death certificate because that just holds things up, and that's a big problem. So we use a DocuSign system that allows us to release the money to your family the day you're gone. This avoids the whole having to assign the policy over to the funeral home, but now your family has all the money in hand. When you got money in hand, you know cash is king; you know how all that works. I don't even need to tell you about that.
But we also take it a step further, and we negotiate the cost, okay? Because the funeral home will try to get more money. You know, I've seen $7,000, $8,000, and $10,000 cremations that should never need to be anywhere near that. So here in California, we're able to get these cremations down to about $1,000. Now, granted, if you do all these extra odds and ends, viewings and things like that, it may cost a little more, but you know a basic cremation isn't going to cost more than $1,000 with us because that's what we're able to get it for with our very unique program.
It's called the Funeral Consumer Guardian Society. Now, this is a nonprofit organization. They're already well known by the funeral homes, and Dignity Memorial is the big player out in California anyway. They own just about every funeral home out there. Luckily, we already have a relationship with them, so they already know that we're not paying more than what we're going to pay.
So that being said, let me get you some information here. I just want you to understand how we're different. We get that money right away; we don't pay the full price ever on anything, burial or cremation. This makes it to where your family gets to keep more of that money, and then it makes it to where you won't have to pay much more for insurance while you're alive. It's a win-win.
So any questions about that? I don't think I need to go over a whole lot because I have a feeling you already know about all this stuff. Yeah, I don't have a whole lot of questions. You understand what I need is the basic price of what I'm going to have to come out of pocket in order to have coverage, and I have proof that I got coverage.
I understand. Let me get you that information. So what I'm going to do here is I'm just going to give you some information on a few different plans here, what they cost. I do need to ask a few health questions to get the price as low as I can. Would that be all right if I ask you those questions?
All right, let's take a look. My first question is, have you used any form of tobacco in the last 12 months? All right, all right, let's go and take a look here. So this would be under our modified program, okay? And our modified program is designed for people that have chronic disease, like do have a limitation on the beginning of the policy, but I'd rather have it at the beginning than at the end of the policy.
What the insurance company is doing—and this is what the other insurance companies do that do this with COPD—is they're going to share in the risk with you. And what that means is that instead of charging you the ridiculous high rate with first-day coverage, they put that limitation because now you're going to be lower risk, and the lower the risk, the lower the premium. Right now, you're high risk, okay?
In order to keep the premium more affordable, this is what they do: they'll put that limitation at the beginning, and all they're saying is if you die in the first 24 months, they're going to return the premiums to your family. We do take it a step further, and we pay interest on that money; we pay 20%. Now, I don't know about you, but if you know anyone paying 20%, I'd like for you to pick up the phone and call me right away so I can put my money there. Nobody's paying 20%, okay?
You know, so I'd be happy, but that's what they do. So after that, the full death benefit goes into place, and let's go ahead and see what that looks like. It does look like here they are going to give you first-day coverage on non-natural death. So let me real quick explain this to you because I think this is important.
If you have a non-natural death, that means an accident of any kind. I don't care if you just get a little small policy to cover cremation; we're going to pay that from day one. But we're also going to pay an extra $25,000 if you get into a car accident. It don't matter if you're driving; it don't matter if you're a passenger; we're going to pay that benefit, but we're going to pay an extra $50,000, okay?
Common carrier—this could be anything you pay a fare for, like a plane, train, boat, taxi, Uber, Lyft, anything like that—it's going to pay out an additional $100,000. And you know those benefits are great, but this next one is the one we pay out the most frequently. I'm sure you know somebody that's passed away when they went and visited family or they're on a vacation. That happens all the time, you know, and that's a disaster because now when they have to pay to bring the body home, that costs money, you know?
So with us, you know, if you die away from home, we're going to bring you home service. It don't cost nothing. If you're in the service and you die, you know, the service will pay for it. Okay, that's—I didn't know that. That's something I learned.
Yeah, I had brothers in the service and lost one. Oh man, okay. Were you in the service? Oh no, sir, I was too young. Okay, okay. So when you pass away, if you die away from home, we're going to bring you home, so you don't have to worry about it. It ain't going to cost no money either. Does that make sense?
Yeah, that's right. Last, there's a dismemberment benefit on here, and this just says if you're dismembered in any way, you lose an arm, a leg, a hand, we're going to pay you a living benefit of $12,500, $25,000 for a double dismemberment.
All right, let's go and take a look. Let's see what we got here. So I know you're looking for $25,000, but I like to show folks what they need, the minimum, and then we'll look at what you want afterwards. So I told—makes sense, you know? I was going way out of my financial needs at the moment because that's what I was offered.
Yes, sir, I don't do business like that. I know you're on a fixed income; I know money's tight. I'm not going to sit here and try to get you to spend $2,000 and $3,000. That don't make no sense, okay? Again, I can get you cremated for $1,000, so I'm going to show you a little $3,000, a little $5,000 policy. After I show you these, when you want to look at more, if it's affordable, I'll be more than happy to show you more, but let's look at what you need. We can look at what you want after, okay?
Okay, let me pull this up real quick. All right, so again, like I told you, I can get you cremated for $1,000, no problem, and with this little $3,000 policy, there'll be a couple thousand dollars left over for your family for whatever they want to do with it. And then the $5,000 just puts a little bit more. Remember, anything over $3,000 is all money going to your family, okay?
So if I did the $3,000 here, we can get that in place for about $40.44. Okay, and I'm going to show you the $5,000. The $5,000 at $70.40. Okay, did you want to look at anything different, or do you think we're kind of—you want to maybe start with something small and maybe add later on?
Be right, right in the ballpark about where I want to be right there. Okay, so you want to kind of—you want to keep it low like the—or you want to go lower? I want to keep it low because I don't need my family fighting over money while I'm gone.
Yeah, that—I like that. You know, you know how money changes people, man. Man, just got off the phone with a lady trying to tell her what money does to people and how it's important. Yes, sir, not split.
Yeah, man, it's not the money; it's the greed of it. It's the greed. It's the greed. Everybody wants—I know exactly what you're talking about. So here's what I'm thinking. I'm thinking that that little $3,000 policy, I can get you cremated for $1,000. There'll still be a couple thousand for them to have a little celebration of life or something for you. That's plenty, and I think what we got for $45.44, I think that would be perfect. It fits your budget, and it would take care of business.
You got no other business on this Earth left but to take care of that last piece of business. Leaving money for people don't make no sense when you ain't got nothing but a one check a month anyway. You see what I'm saying? I'm telling you, I'm not in to party off it, so you know I'm not going to let them kick their heels up too damn high either.
You just want to handle your business. I understand exactly. I'm in and I'm out just like life and death. I mean, look, y'all know I was because I left y'all this up. You help put me away, so y'all work with it from now. That's all I got; that's all they can get. Take blood from a turnip, what I—
I love that saying. So what I can do for you is I can put an application for you. You can start this whenever you want, okay? Some people like to start it when they get paid or whatever it is you want to do. I know you're probably just getting Social Security, and we can do that if you want, but the insurance company still has to say yes. They got to go ahead and run this. I can do this here within a couple of minutes.
So can you help us out here with an application here real quick? Sure, absolutely. Yeah, okay. So Benny, I'm gonna confirm your address. So I have you as Benny.
Okay, a couple things I want to note about the call that you just heard. Number one, we didn't go over education, and that's okay. Just because I'm teaching a sales process doesn't necessarily mean that education is necessary on every single call. The managers have full reign to make judgment calls on whether or not they want to navigate through different parts of the script or where they don't.
And Manny, in this case, who's the manager that jumped on the call, decided to just take it straight through to talk about the problem awareness and the features and benefits of what a Lincoln Heritage policy provides. I will say Amos did such an incredible job in discovery, but the most important thing—and this is for all agents in training and all agents that are about to be in training on our team—the recap that he gave to Manny was perfect, right?
A lot of times, managers will get on calls, and the agent will say, "Yeah, I have Bob on the phone who wants a burial," and there's no other context, right? So the amount of context that Manny got was really everything that he needed to know exactly where to take this call.
I will say that I don't know what part of California he was in, but the Funeral Consumer Guardian Society does have a database of over 30,000 funeral homes and crematories in the country, and we absolutely can find direct cremation places in California that are as low as $600 to $900. Sometimes that doesn't include the cost of transportation, some funeral director's fees, filing for the death certificate, so there may be some additional expenses, but for the cremation itself, we have gotten it for less than $1,000 simply because we're not paying all the markup that a Dignity Memorial Funeral Home attaches to something as simple as a cremation.
In fact, I'll take it one step further. You know, funeral homes that are owned by Dignity Memorial typically have a high-end, a medium-end, and a low-end funeral home to target different class types of families, and they all use the same crematory anyways, but they're charging different prices based on where you live. So we don't play those games; everybody gets the same price regardless of your socioeconomic status.
The other thing that I really liked about it was Manny was kind of like speaking the guy's language, really kind of just making him heard, understood, and sometimes that's not always duplicatable, right? Sometimes you just got that thing that allows you to connect with people to make them feel comfortable changing their situation because at the end of the day, that is the goal, right? We're just trying to get people to feel good about their decision, change their situation, and protect their family.
So thank you so much for watching. If you have any questions, please post a comment below. My contact information is in the description of every single video. You are always welcome to reach out to me to learn more, and I look forward to seeing you on the next video. Have a great sales day! Bye.