wait if he owes 145k by the time he dies and the value of the homes goes up $170, how does his wife get $170k if they still owe $145k? Isn't that $35k? And how does the $40k protect or have anything to do with the mortgage? Just wondering. Thank you for the video
I'm about to take the exam next week, I'm new to this .... so the house is "worth" 315k at the time of his death but she still owes the bank 145k, (so her equity is 170k ) example .. she sold the house for 315k then minus what she owes (145k) that would leave her with 170k .... plus the 40k ( death benefit ) so 210k total.
I think this video is great, except it doesn't really happen like that. These videos should show more of the struggles and objectives new agents go through
sub in whatever premium you want here guys. He is just giving you an illustration of the process and the presentation. The actual numbers will vary with every single client. If you were gonna really have a question it should be how did he come up with that home value in 25 years? Seems a bit low to me, is that intentional?
And when they sober up and realize they should just invest the money they cancel the policy. If they can't afford a policy just move on to the next lead.
300.00 a month for Life Insurance through another company was for 500k . ALOT more than what your saying. 600.00 a month was at 1.2m coverage ,now this was based off my age and healthy lifestyle but still
Not a strong close. Trying to sell the old guy on GIWL, which in many cases he will out live the value of the death benefit at $285 per month. Now if he stated that his parents died at a younger age with similar health conditions then GIWL will work out in terms of death benefit return.
The gentleman in this scenario has only been able to save 10K his whole life. So, 285/mo is a forced savings that he otherwise would blow at the casino or whatever AND,, the premiums stop at a certain point and the coverage continues until his death. Not to mention the cash value in such a policy that can help him pay the premiums if he gets into a bind.
You cannot tell someone that their house is going to appreciate. That is a misrepresentation of an apparent authority, which you don't have in this case. So if you added that figure into your closing numbers, you misled the customer and that is not lawful.
@@timbelow3025 I disagree. You don't know what you're talking about. You can't make a false claim as a basis for selling insurance. What are you...a Biden vote counter?
What if he dies in year 3?? What will his spouse do with 40 grand policy and the she owes 200 grand on the house?? What if the appreciation of the house does not occur and the house value remains the same or less?? you have obviously little experience in the industry and never lived through real estate market downturns... Client should be shown sufficient coverage to cover mortgage at the very least.... level term, under funded UL might give the client coverage withing his budget........
Jay....I am shaking my head too....re watching the idiocy in this video. I noticed you did not answer any of my above questions.. What happens if he dies in years 1-3 or year 5? What happens if the appreciation of the house does not occur or even goes down in value? Is the appreciation in the house guaranteed? In the above video he is showing the client a premium of 285 per month for a 40k face amount and illustrating the mans death at age 82....hmmmm lets see.....285 per month x12 is 3420 per year......mulitply that by 12 year( age 82) the client has invested over 41k in a policy that will pay his spouse 40k what a shitty deal for the spouse!!....what happens if the client lives to age 85??? The client would have invested over 50k into a policy that pays the spouse a 40k benefit They would have been better off investing in the bank at 0% interest.......hopefully most reading this can see the idiotic planning going on in the above video . If the assumption is that that client could live at least 12 years to age 82 then you should be showing an underwritten policy if you are assuming a 12 year Life expectancy Like I said...... I would show this client a guaranteed UL to age 95 even at table 2 his premium would be 285$ per month for 100 or even 125 k of face....
How do you know how much I make or he makes for a living??? You have no clue! So genius.......show me how it makes financial sense for a client to invest more money into a policy then the benificiaries will receive back???? Why dont you go ahead and de bunk my post above where I show the math...... start with the 40k face policy for 285 per month....... I am waiting
Zuli Zapata I know how much he makes because I work along side him in our company. So don’t tell me what he makes because I know, he is our top producer. The numbers regarding the policy are because the client is 70 years old and unhealthy as he said. The numbers are worst case scenario. It would take almost 12 years for that value to overlap the benefit. He is an unhealthy 70 year old he won’t last. Because he is 70 with a mortgage he will most likely go with a final expense plan.
Great Training!
Omfg now I understand it on a whole other level
Thank you so much
Thanks!
Not in this type of sales but very good. Paint the picture and close repaint if necessary and reclose!
wait if he owes 145k by the time he dies and the value of the homes goes up $170, how does his wife get $170k if they still owe $145k? Isn't that $35k? And how does the $40k protect or have anything to do with the mortgage? Just wondering. Thank you for the video
I'm about to take the exam next week, I'm new to this .... so the house is "worth" 315k at the time of his death but she still owes the bank 145k, (so her equity is 170k ) example .. she sold the house for 315k then minus what she owes (145k) that would leave her with 170k .... plus the 40k ( death benefit ) so 210k total.
🔥🔥🔥🔥
I think this video is great, except it doesn't really happen like that. These videos should show more of the struggles and objectives new agents go through
Doesn’t make sense! He’s paying $285 for $40,000 DB coverage .... period! Appreciation of the property is completely independent of the calculation.
sub in whatever premium you want here guys. He is just giving you an illustration of the process and the presentation. The actual numbers will vary with every single client. If you were gonna really have a question it should be how did he come up with that home value in 25 years? Seems a bit low to me, is that intentional?
@@HABjimmy 12 not 25 years they said they were 70 years old
And when they sober up and realize they should just invest the money they cancel the policy. If they can't afford a policy just move on to the next lead.
That's true. And I'll bet the average policy holder only keeps in 9 months, which is probably just long enough to avoid commission recapture.
MY QUESTION IS , "HOW DID YOU COME UP WITH $170,000 IN CASH VALUE? WHAT'S THE CALCULATION ON THAT? I'M CONFUSED. i THINK I UNDERSTAND EVERYTHING ELSE.
The home will go up in value to 315k and when John dies at age 82, his Mortgage Loan will be 145k. So take 315-145 =170 .
@@rickwells9929 No proof the house will go up that much. Many have not even got back to the values they had in 2008? No guarantee of that?
@@TonyLeeCeo no guarantee he will die at that age, it's theoretical.
Nice
300.00 a month for Life Insurance through another company was for 500k . ALOT more than what your saying. 600.00 a month was at 1.2m coverage ,now this was based off my age and healthy lifestyle but still
Yes, for a term policy at maybe 45 years of age. Not for a senior citizen.
Not a strong close. Trying to sell the old guy on GIWL, which in many cases he will out live the value of the death benefit at $285 per month.
Now if he stated that his parents died at a younger age with similar health conditions then GIWL will work out in terms of death benefit return.
The gentleman in this scenario has only been able to save 10K his whole life. So, 285/mo is a forced savings that he otherwise would blow at the casino or whatever AND,, the premiums stop at a certain point and the coverage continues until his death. Not to mention the cash value in such a policy that can help him pay the premiums if he gets into a bind.
You cannot tell someone that their house is going to appreciate. That is a misrepresentation of an apparent authority, which you don't have in this case. So if you added that figure into your closing numbers, you misled the customer and that is not lawful.
Exactly.
It is an example for the love of God. That man you just watched is worth several million dollars, I think he knows what he is talking about.
@@timbelow3025 I disagree. You don't know what you're talking about. You can't make a false claim as a basis for selling insurance. What are you...a Biden vote counter?
What if he dies in year 3?? What will his spouse do with 40 grand policy and the she owes 200 grand on the house?? What if the appreciation of the house does not occur and the house value remains the same or less?? you have obviously little experience in the industry and never lived through real estate market downturns...
Client should be shown sufficient coverage to cover mortgage at the very least.... level term, under funded UL might give the client coverage withing his budget........
Zuli Zapata .serious? SMH
Jay....I am shaking my head too....re watching the idiocy in this video. I noticed you did not answer any of my above questions..
What happens if he dies in years 1-3 or year 5? What happens if the appreciation of the house does not occur or even goes down in value? Is the appreciation in the house guaranteed?
In the above video he is showing the client a premium of 285 per month for a 40k face amount and illustrating the mans death at age 82....hmmmm lets see.....285 per month x12 is 3420 per year......mulitply that by 12 year( age 82) the client has invested over 41k in a policy that will pay his spouse 40k what a shitty deal for the spouse!!....what happens if the client lives to age 85??? The client would have invested over 50k into a policy that pays the spouse a 40k benefit They would have been better off investing in the bank at 0% interest.......hopefully most reading this can see the idiotic planning going on in the above video . If the assumption is that that client could live at least 12 years to age 82 then you should be showing an underwritten policy if you are assuming a 12 year Life expectancy
Like I said...... I would show this client a guaranteed UL to age 95 even at table 2 his premium would be 285$ per month for 100 or even 125 k of face....
This guy makes probably 7x your salary he isn't stupid. If you can't find value in him then there is something missing on your end.
How do you know how much I make or he makes for a living??? You have no clue! So genius.......show me how it makes financial sense for a client to invest more money into a policy then the benificiaries will receive back???? Why dont you go ahead and de bunk my post above where I show the math...... start with the 40k face policy for 285 per month....... I am waiting
Zuli Zapata I know how much he makes because I work along side him in our company. So don’t tell me what he makes because I know, he is our top producer. The numbers regarding the policy are because the client is 70 years old and unhealthy as he said. The numbers are worst case scenario. It would take almost 12 years for that value to overlap the benefit. He is an unhealthy 70 year old he won’t last. Because he is 70 with a mortgage he will most likely go with a final expense plan.