This week we discuss the elements that make an insurance carrier and their products good for final expense telesales. We also dive into the first four of our Hot List of the BEST final expense telesales carriers, their products, app process, & underwriting profiles. Listen to learn which carriers these are, why you should have them and how you can add them right away to your arsenal of tools to serve clients.
Pro Tip: Having these carriers available to you will simplify your sales immediately! It will allow you to get more applications processed, issue more policies, cover more families, and put more money in your pocket.
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Show Notes
What do we look for in telesales carriers?
- Simple process
- Quick response
- Clear agent resources & guides
- Liberal underwriting
- Medication review
- Application types & preferences
- Things to consider – accessibility / time of day, busyness of call center
Best Insurance Carriers for Telesales – Part 1
The carriers we cover in this episode are a great option when selling life insurance over the phone to customers who may not have access to technology or have an email address.
Liberty Bankers Life
Product
- Preferred /Standard /Modified 110= 3yrs/4th 100
- Up to $30,000 Face amount (Non Face to face)
- SS billing
Paperless app pack
- Nothing to submit
- No Email Needed
PHI Interview – Everything is done over the phone
- Doctor’s information
- Banking information/ Draft Date
- Beneficiaries
- Signature- “Voice Signature”
Underwriting Profiles
- COPD
- Hepatitis
- Cirrhosis
- Parkinson
- Liver/ kidney disease
- Mental Illness
For resources and contracting, please submit your request using the form above.
Royal Neighbors of America
Product
- Simplified issue whole life
- Level/Graded
- Up to $25,000 Face amount (Non-face-to-face)
- Push out first draft 45 days
- SS billing
Paperless app pack
- POS Agent Worksheet
- Nothing to submit
- No Email Needed
PHI Interview
- Important Information document (Must be sent before the PHI)
- Doctor’s information
- Banking information/ Draft Date
- Beneficiaries
- Signature- “Voice Signature”
Underwriting Profiles
- Diabetic Friendly (Insulin,Complication with neuropathy, retinopathy, nephropathy)
- ADL’s
- Cancer 2 year
- Mental illness
- TIA
- Legal
- Height and weight
For resources and contracting, please submit your request using the form above.
American Memorial Life / Assurant
Product
- Limited to $15,000 Face amount (Non Face to face)
- Level /Modified
Paper Application
- Must submit the application (5 pages, 3 signatures)
PHI Interview
- Time saver – No longer asks each health question
- Medication – Incident based vs prescription based (prep the client)
- Signature – Client name, “Voice Authorization”, date, time
Underwriting Profiles
- COPD over 3 years (No Nebulizer use)
- Cancer 2 year
- Legal
- Pending results
- Ability to explain dual purpose medications and get decisions reversed.
- Most cases are instant but some take an underwriter review – can’t review over the phone
For resources and contracting, please submit your request using the form above.
Great Western Life
Product
- Assurance Plus / Guaranteed Assurance
- 125% of face amount
- Level /Modified
- Up to 40,000 and as little as $1,000
Electronic Application
- MyEnroller (No internet required)
- Time saver (Up to 3 health questions only)
- Signature- “Voice Authorization” (No Email) (recorder)
- Signature- “E signature”
Underwriting Profiles
KNOCKOUT
- Hospice, hospital, nursing home for 5 or more days
- ADL’s
*Medication for 2 years without changes or increases is deemed maintenance meds over treatment meds.
** Only GI product to offer renewals
For resources and contracting, please submit your request using the form above.
Great job! Very useful information from the best in the business.