The BEST Way To Close A Life Insurance Sale (Live Final Expense Call)

And what was that last? Those last, like, five words? You said it cut out there for a second.

I said I had about three life insurance, but with my separation, all of that has dissolved.

Okay, gotcha. So it's just the work coverage right now, Currently, then? Yeah.

Right. Okay, gotcha, gotcha. And with. With you looking to retire, I'm guessing you're looking to retire at age 65?

That's true.

Okay, awesome. Yeah, I'm just trying to make sure I get the perfect picture here. My goal is to make sure that we can get you squared away. I specialize in retirement and transition into retirement, so just kind of figuring out where you're at is going to be super beneficial for me. Now, let's see here. You said that you had had some previous life insurance. Nothing in place currently except for the work coverage. And then obviously you said you'd applied for this before. You know how it works. It's all based off of your health, not your wealth. So I gotta ask you a few questions about, like, you know, if you're falling apart or not. And if you are, we gotta go from there. But are you currently taking medications?

That's it.

Okay. Are you taking any medications for that, or is that something that you just got going on? Do you have, like a pen and paper around you by any chance?

No, as a matter of fact, I'm driving next month.

Oh, no worries. Okay. Are you gonna be stationary anytime soon or.

Probably in the next 20, 25 minutes.

20, 25 minutes. Okay, gotcha, gotcha. Would it be easier if I called you back here in about 20, 25 minutes just to make sure you can write this stuff down for your records?

Yeah, that would be.

Okay. Let's do that. A few moments later off of. Kind of the questions that you'd answered. Remember you told me earlier you said about healthy as a horse? So I got these quotes pulled up here for you, and you said that you were looking to leave these behind to your kids. Is that right? All right, gotcha, gotcha. Okay, let me get this pulled up again here for you. Just getting back from. I took a little break in between as well to make sure I could keep my head on straight. I had to get a snack. You know what I'm talking about? Yeah.

Let's see here.

Gotcha. And then just so you can. Can you jog my memory real quick? You said that you were going to be leaving this behind to your kids.

That's correct.

And what were their names again?

Awesome. Okay, gotcha. So is this something that you would Want to be splitting between them three ways or would you just leave it to the oldest to take care of everything.

Three ways?

Okay, perfect. Perfect. So the reason I ask is because it's going to kind of depend how you want to structure things. Obviously this is something that you're planning ahead for and we got to make sure we, we have all that taken care of and squared away for you. I've got those quotes pulled up for you now. Did you have that pen and paper available?

I did.

Okay. And I've got, I'm loading it up now because I've got to get all three options up for you. I'm writing everything down. I'm old school. I write it all down and then I'm gonna share it with you. Okay.

Okay.

Awesome. Awesome. And then while I'm writing all this down, in the event that something were to happen to you would be able to cover this bill out of pocket or would that be something that would like, would that affect them financially?

It would.

Okay, gotcha. So I'm just asking because I need to know how basically like I'm trying to figure out how important it is for you to get approved here because.

I'm not saying this is going to be the case, but I've had situations where me and there was one night I ended up eating. I used to do this face to face and I ended up eating dinner with the whole family. I actually helped them cook. While I was trying to figure out how we could get her a purse, she got denied. You won't believe this. Nine times nine.

And sweet old lady and living out in North Carolina.

And. Give me one moment. I got a gentleman that's like blowing my phone up.

Give me one moment here. I want to let him, let him know I can't reach out to him right now. Okay. So the company that, that we're going to look at here.

Well, I think I had mentioned them just a moment ago.

Everything all right?

Yeah.

Oh, gotcha. I thought I heard something fall. Did you drop the phone or something?

No. Oh, I don't know what happened. It must have been. I don't know what that was. It sounded like, it sounded like something had like really fallen. I was like, oh my gosh. Okay. Alright, so I've got the. I want you to write these top to bottom for me and then obviously let me know if you have any questions. But the first one is going to be for 25,000. This is day one coverage. Pays out tax free to.

And so that's the one below that is going to be 20,000, this is going to be your second option.

And then below the 20,000, I want you to write down 15,000.

Now, to the right of the 25,000, the 20,000 and the 15,000, I want you to put an equal sign, and I'll explain why in just a moment.

Now, next to the right of the 25,000, I want you to put down 100.54.

Yep, 100.54.

Now, for the 20,000, that's going to be 80.96.

And then for the 15,000, that's going to be 63.24.

Let me know when you got it.

I got it.

Okay. So the reason I had you put the equal sign in between them, too, between the two numbers is very simple. So the reason I did that is because let's say you were to choose the 20,000. For example, if you were to choose the 20,000, that number is never going to go up and it's never going to go down. It's not going to go up in price like we talked about earlier with those term policies, either. It's going to always stay the same. So I put the equal sign because both sides stay the same. And as long as you keep up your end of the bargain with the small payment, the insurance company is going to keep up their end of the bargain with the big payment. Does that make sense?

Now, because you're so healthy, I think we could get you approved for something like this and it would be effective day one. The reason why this is so important is because most people in retirement are killing for a program like this because that means that they're able to get covered from the first day, and it also means that their rate is going to be significantly less expensive. Does that make sense so far? Yeah. Okay, now, out of these three options, which one of these best fits in your budget?

It moved me to 63, but I would still have to wait a moment because, as I mentioned earlier.

I'm separated, about to go through a divorce.

Right, of course.

Gotcha. Gotcha. Okay. Yeah. No, I run into this all the time, especially with people transitioning into retirement or moving into a new stage of life. They're usually looking for something that's going to keep them a little bit more stable. Now, you said you're planning on getting that divorce. Is this something that, like, you're finalizing, or is this something that you're just getting started on?

Just getting started on?

Gotcha. Okay. So typically, what I do here in these types of situations, because you said you're not. You're not. You're not on a fixed income, right? You're still working?

Yes.

Okay. So typically what I do in these types of situations, when people are still working, they're looking at retirement. Now, obviously the divorce puts a little bit of a wrench in the plans, but what I usually recommend to most of the people that I work with is to start with something a little bit lower so you don't have to worry about, you know, going through the divorce, not having enough money, etc. Etc. Start with something a little bit lower and then just work your way up later. That way you can or you already get approved and you don't have to worry about getting declined later or paying a lot more when you're on a fixed income in retirement. Does that make sense?

Now, I know you said that the 6324 would probably be the best fit for you. Is that something that would fit comfortably in your budget or would you want to look something closer to the $40 to $50 a month range?

It would be better with the 40 to 50 because also it also changed.

With the divorce. I don't know how that's gonna go, but I do know we have a daughter in medical school. And I believe just by kind of mentioned that bill will be transferred to me.

Also, the. You're talking about you're gonna have to pay for the college.

Yes. When they were.

Scholarship event in those don't cover.

It was becoming for me.

Okay, gotcha. So with your situation being a little bit different, because I advise people in, you know, anywhere above the age of 50 on this kind of stuff, I would say that we should definitely go for a little bit on the, on the lower end, because here's what I don't want to do. And I've seen this happen a lot of times. People want to leave behind as much behind as they can for family. Right.

And so obviously, like, we can't. There's no way we can ever write the check for our family safety and security. I can't write a check for how much I want to leave to my fiance. I don't have that much money. I want to leave for the world, you know. So I think the best thing that would make sense and weigh in here, let me know what you think. But I think the best thing that would make sense for you here is to just start at the 40, start low, get enough to just cover the burial in case something were to happen. And then if you want to leave more behind a family, if you want to, you know, add more in the future, you can always call me. I'm never going to tell you. I'm never going to tell you. No, as long as you qualify, of course. But.

What it looks like I can do is for the $40 a month, it looks like is actually going to give you a really good deal for $11,198.

Now if, if we were able to lock that in for you at $40 a month, is that something that you want to go ahead and apply for now?

Okay. Okay. And then if I do it this way.

A lot of financial burden does fall on me. What's the penalty to cancel?

There's no penalty to cancel. The only thing that happens when you cancel is that you don't keep your rate anymore. And so, for example, let's say that, you know, we were to get you, get you applied, get you approved, which is the most important thing, and you make your first payment and you decide two or three months from now after, you know, talking with the lawyers and everything, like, hey, you know, I need to cut back a little bit, you just call me up and we'll handle it together. And the reason why I'm willing to do that with you is because I understand that if you're going, my parents went through a divorce. If you're going through a hard time, there's no reason that you should add more onto it. And so we can just keep in touch and when you're ready to reapply, we can always do that. Does that make sense?

Yes.

And then, so for now, what we would be doing would be locking in a lower rate. And then obviously the goal is to keep it. But if something happens, you just let me know, we'll take care of it. And then, you know, we can always come back and then reapply. It's just going to be more expensive if you get less healthy or if you get older. Does that make sense?

Right. Uh huh.

Okay, well, what I'll do real quick here is I'll pull up an application and I will have to ask you a few questions here.

And this would be able to lock you in that rate. And that 11, that number that we went over a moment ago, did you write that down for your records?

Yes.

11,000 and everything?

Yes.

Awesome. And so we're gonna apply for this real quick. And what I'll do is I'm gonna, I'm gonna sound like a, I'm gonna sound like a broken record here in a second. So I'm gonna ask you a few questions and some of them sound kind of similar, so you're probably gonna get a little annoyed with me, so bear with me for a second, okay?

Alrighty. Let's see what we got here for you.