The 30 day war!
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[quote=Full Throttle]
This one is really going to chap your ass if you make fun of a $7000 account. I have a 4pm meeting on Friday to set-up a $75/month Roth IRA contribution, no other business at this point. 22 years old, $5000 in a savings account (decent saver at least), in sales as a 1099'er, single, and no other real assets. My commission = $41, I actually lose money on it. There is no potential for a DI sale at this point as she has no established income history, no need or desire for life insurance yet, and only $150 per month to work with at this point. I'm not getting greedy and trying to rob her of her necessary liquid money and I'm only using half of her small monthly savings to fund a Roth IRA so she can continue to grow her liquid savings.
I would go broke if I prospected for these accounts, but I'll take the one's that come to me. Why? 1. She is an established saver and I believe she has future financial potential. 2. There will be a DI sale in a year to three years. 3. Eventually there will likely be some life insurance sales. 4. She has older siblings that have families that I should get introductions to them. I could be wrong about her potential, but I'm willing to give her a phone call on her birthday and once a year for an annual review (which can be done over the phone). If she wasn't an established saver, responsible, and I believed she would always be poor, this would be a complete waste of time.[/quote] She's working and making money. Is she showing income? If so, she needs DI today. Work your magic and get DI for her. Can you promise that she'll be healthy a few years from now when she gets knocked up? If not, she needs life insurance today. She only has $5,000 in savings and only $150/month extra. She needs more savings and not investments. You can make $41 and do squat for her or you can get her the DI and Life insurance she needs and make 10x the amount for yourself while doing the right thing for her.[quote=Full Throttle]
This one is really going to chap your ass if you make fun of a $7000 account. I have a 4pm meeting on Friday to set-up a $75/month Roth IRA contribution, no other business at this point. 22 years old, $5000 in a savings account (decent saver at least), in sales as a 1099’er, single, and no other real assets. My commission = $41, I actually lose money on it. There is no potential for a DI sale at this point as she has no established income history, no need or desire for life insurance yet, and only $150 per month to work with at this point. I’m not getting greedy and trying to rob her of her necessary liquid money and I’m only using half of her small monthly savings to fund a Roth IRA so she can continue to grow her liquid savings.
I would go broke if I prospected for these accounts, but I'll take the one's that come to me. Why? 1. She is an established saver and I believe she has future financial potential. 2. There will be a DI sale in a year to three years. 3. Eventually there will likely be some life insurance sales. 4. She has older siblings that have families that I should get introductions to them. I could be wrong about her potential, but I'm willing to give her a phone call on her birthday and once a year for an annual review (which can be done over the phone). If she wasn't an established saver, responsible, and I believed she would always be poor, this would be a complete waste of time.[/quote]Nobody has asked the important question about her, Is she hot? If so their may not be more revenue to generate but some serious savings on your expense account at the Tokyo Spa.
[quote=voltmoie] svm … the moment that guy retires he still has the debt, still wants to eat lobster every night, still wants to take great vacations and drive German cars. It’s not bad if you live on 100k its ugly if you live on 250kHe’s 62, prob. going to retire in three years and he’ll take a 60% cut in income. Still good living but he’ll blow through 1.5 million like me through a cheerleader camp.
[/quote]
By blowing at the cheerleader camp are you referring to the males? I’m confused by your verbage…
He is definitely talking about a cheerleader camp for male cheerleaders. And he will be doing the blowing.
I’m glad the “30 day war” is now officially in the gutter…
was voltmoie the blowjob queen from a male cheerleading camp?
i realize we should be sharing ideas to improve our business…
but i don’t have a business anymore!!!
[quote=Ron 14]
He is definitely talking about a cheerleader camp for male cheerleaders. And he will be doing the blowing.
[/quote]Don’t hate
[quote=voltmoie]
[quote=Ron 14]
He is definitely talking about a cheerleader camp for male cheerleaders. And he will be doing the blowing.
[/quote]Don’t hate
[/quote]
Don’t worry, voltmoie, the first 4 times are just technically experimenting. You’re not gay until you’ve done stuff with guys more than 4 times
She’s working and making money. Is she showing income? If so, she needs DI today. Work your magic and get DI for her.
I agree, but I've been told it wasn't possible since she is brand new in her sales position, hasn't been there for a year, and is 1099'd. If I could, I would. Any suggestions? Can you promise that she'll be healthy a few years from now when she gets knocked up? If not, she needs life insurance today. She only has $5,000 in savings and only $150/month extra. She needs more savings and not investments. I'm newer at this, so I appreciate the feedback. Obviously I can't guarantee her health on the life insurance side. What would you do in this situation? Do a small permanent policy for savings and a death benefit. Do a term policy for her full future need?[quote=Full Throttle]She’s working and making money. Is she showing income? If so, she needs DI today. Work your magic and get DI for her.
I agree, but I've been told it wasn't possible since she is brand new in her sales position, hasn't been there for a year, and is 1099'd. If I could, I would. Any suggestions? Can you promise that she'll be healthy a few years from now when she gets knocked up? If not, she needs life insurance today. She only has $5,000 in savings and only $150/month extra. She needs more savings and not investments. I'm newer at this, so I appreciate the feedback. Obviously I can't guarantee her health on the life insurance side. What would you do in this situation? Do a small permanent policy for savings and a death benefit. Do a term policy for her full future need? [/quote]You can probably get her a small accident type policy, the way these work are if she is injured in an accident it will pay an upfront benefit of say $1000 and will then pay $500 per month for 6 months if she is unable to work. Probably cost her in the neighborhood of $20 per month. Not the nicest disability program on the planet but it's something and she can get it without having to prove income.
On the life side I'd get her a $100,000 UL type policy and get her putting $40 per month into it, she will have the flexibility to stop or reduce premiums for a period of time in the future if she needs to, it should also provide her enough life insurance to carry her through marriage even home ownership to the point that she has dependents and needs to get some term in place.
[quote=BerkshireBull] [quote=voltmoie] [quote=Ron 14]
He is definitely talking about a cheerleader camp for male cheerleaders. And he will be doing the blowing.
[/quote]Don't hate
[/quote]
Don't worry, voltmoie, the first 4 times are just technically experimenting. You're not gay until you've done stuff with guys more than 4 times
[/quote] Sorry Volt, I just have a tough time passing up a gay joke no matter how bad it is
Same goes for me. The thread was heading way offtopic anyway so might as well throw an easy gay joke out there after you set it up so nicely.
I’m that way with mom jokes so I understand.
Alright, my day … Had a strong day on the phone, the strongest in weeks. My conversations could be better but they were rough because I had slacked off and not done a true call session for a month. Sold some bonds to a guy that brushed me off a month ago, he uses another broker so my foot in now in the door for the rest of the stuff. Got some solid leads on future business. It’s amazing, when you talk to people you do business…hmmm Tomorrow will be 100% prospecting and f2f follow ups - 27 contacts in my goal.
Also have a 2nd appt. scheduled for a guy that has a 210k rollover. Plan to do a little VA and alot of Advisory Solutions with it.
[quote=Full Throttle]She’s working and making money. Is she showing income? If so, she needs DI today. Work your magic and get DI for her.
I agree, but I've been told it wasn't possible since she is brand new in her sales position, hasn't been there for a year, and is 1099'd. If I could, I would. Any suggestions? Can you promise that she'll be healthy a few years from now when she gets knocked up? If not, she needs life insurance today. She only has $5,000 in savings and only $150/month extra. She needs more savings and not investments. I'm newer at this, so I appreciate the feedback. Obviously I can't guarantee her health on the life insurance side. What would you do in this situation? Do a small permanent policy for savings and a death benefit. Do a term policy for her full future need? [/quote] For the DI, it really depends on what sort of income she can prove right now. If there is income that can be proved, you'll be able to find someone who will offer coverage or they will soon. It may not be enough coverage, but get her as much as possible with a rider to get more in the future without having to show good health. For the LI, go with a large convertible term policy. This protects her health while guaranteeing that she can buy permanent coverage at good rates when she can afford to do so.BerkshireBull, I have to completely disagree with the UL suggestion. UL is a product that absolutely sucks long term. The flexibility that is looked upon as a positive is one of the worst parts about the product. Human nature gets in the way. If a premium payment isn’t necessary, one may get skipped. Skipping premiums drasitcally increase the chance of lapse. At $40/month for $100,000, ultimately, she will end up with no cash and no insurance when she gets older. If her health changes, her family will have a Mom that is drastically underinsured.
At this point she is much better off buying a $500,000 term policy that is less than $20/month and putting the balance into savings.[quote=anonymous]BerkshireBull, I have to completely disagree with the UL suggestion. UL is a product that absolutely sucks long term. The flexibility that is looked upon as a positive is one of the worst parts about the product. Human nature gets in the way. If a premium payment isn’t necessary, one may get skipped. Skipping premiums drasitcally increase the chance of lapse. At $40/month for $100,000, ultimately, she will end up with no cash and no insurance when she gets older. If her health changes, her family will have a Mom that is drastically underinsured.
At this point she is much better off buying a $500,000 term policy that is less than $20/month and putting the balance into savings.[/quote] There is no way underwriting is going to let you write that much face value on a single 20 year old with no dependents making $15,000 per year.[quote=BerkshireBull][quote=anonymous]BerkshireBull, I have to completely disagree with the UL suggestion. UL is a product that absolutely sucks long term. The flexibility that is looked upon as a positive is one of the worst parts about the product. Human nature gets in the way. If a premium payment isn’t necessary, one may get skipped. Skipping premiums drasitcally increase the chance of lapse. At $40/month for $100,000, ultimately, she will end up with no cash and no insurance when she gets older. If her health changes, her family will have a Mom that is drastically underinsured.
At this point she is much better off buying a $500,000 term policy that is less than $20/month and putting the balance into savings.[/quote] There is no way underwriting is going to let you write that much face value on a single 20 year old with no dependents making $15,000 per year.[/quote] I think I'd beg to differ on this one. I think she's 22, but you can get a half mil term policy on someone earning $15,000. Their human life value is over half a mil if they have the SAME salary until age 65. Underwriters will understand too based on age that within a year or so that person will be earning much more than $15k.You insurance guys are idiots. This chick does not need 500k in life insurance. She MAYBE needs disability insurance. Set her up a nice little roth, a small amount of disability insurance, and make sure she is using her 401k at work. You’ll get business down the road and hopefully she’ll refer you to her parents. With no dependents and at 22 she does not need freaking life insurance and won’t be able to vizualize her future need for it so she is likely to cancel the policy at age 23 anyway.
My god, 500k term insurance. IDIOTS! ANANOLOSER, save me the drama of your long winded hypothetical reason she needs it.[quote=hotair1]You insurance guys are idiots. This chick does not need 500k in life insurance. She MAYBE needs disability insurance. Set her up a nice little roth, a small amount of disability insurance, and make sure she is using her 401k at work. You’ll get business down the road and hopefully she’ll refer you to her parents. With no dependents and at 22 she does not need freaking life insurance and won’t be able to vizualize her future need for it so she is likely to cancel the policy at age 23 anyway.
My god, 500k term insurance. IDIOTS! ANANOLOSER, save me the drama of your long winded hypothetical reason she needs it.[/quote] Here's why you're the idiot: At age 22 how much will a $500,000 term policy cost? $30 a month? If she decided not to get life insurance where would that $30 be going? Starbucks? The mall? Something that doesn't make her financial situation better? More than likely that same $30 wouldn't be systematically being saved somewhere, and even if it was, its $30 freaking dollars. In 3 years the girl is married and is buying a house. Now she has an insurance need of anywhere from $500,000-$1,000,000. 2 years after that she has a kid, and now all of a sudden her insurance need is an extra $500,000-$1,000,000. Please explain the rationale why it is insane to buy a small insurance policy a couple years before you actually need more than that? You're locking in future insurability knowing that within a couple of years it will be imperative to have that coverage in force. How much do you think we make on a $30/month term policy? I would make $200 GDC on that, and net $75 payout on that. We ain't getting rich off the stuff, its doing whats best for the client.[quote=hotair1] You insurance guys are idiots. This chick does not need 500k in life insurance. She MAYBE needs disability insurance. Set her up a nice little roth, a small amount of disability insurance, and make sure she is using her 401k at work. You’ll get business down the road and hopefully she’ll refer you to her parents. With no dependents and at 22 she does not need freaking life insurance and won’t be able to vizualize her future need for it so she is likely to cancel the policy at age 23 anyway.
My god, 500k term insurance. IDIOTS!
ANANOLOSER, save me the drama of your long winded hypothetical reason she needs it.[/quote]
hotair - ever know someone who died at 25? 30? What is her parents’ situation? What is her debt situation? Does she have $200k in student loans because she went to Harvard or Duke?
I know someone who died at 30, and the life insurance saved their parents from going into debt.
What if she had a kid? What about the kid’s standard of living?