PRO TIP: CRITICAL PERIOD

For prospects under age 60, a term policy is the way to go, but for prospects over age 60, it’s time to start thinking of “Critical Period” (a whole life policy that will buy the surviving spouse or children some time in the critical period following your client’s death).

We get busy…or we get lazy…or we get distracted…life happens….and then, we’re going to do it ‘next month.’ It’s this perpetual kicking the can down the sidewalk. It’s the holiday season or tax time and it becomes “I’m gonna wait until the kids get out of school”….

But then BANG – there’s a car wreck  …a cancer diagnoses…an accident of some form…And now the trustee for your estate is the State, and they’re handling the funds instead of {name of trustee}. That process can take months or years to get the money into the hands of those you most want to care for.

The lender is not going to wait for the state probate process. Once 2-3 payments are missed, they will start the process of Foreclosure on your home.

And I’d like to help.

I’m going to ask your permission to help you get the important things done. I don’t want to help you kick the proverbial can down the sidewalk today. I’m gonna help you get the important stuff done. Does that make sense?

[Husband name] What specific challenges would [spouse] and [kid’s names] have right now if something were to happen to you?

What is your specific plan to make sure spouse name and name each child are going to be okay?

You see, about 6-8 weeks after you pass on, your wife will get a call from a Real Estate Agent. They will want to buy the home.  She will want to sell because her life has been turned upside down and she’ll realize that the house is too large – and a check for $400,000 would help her financially. 

Does that make sense?

Well, here’s the trouble. It’s a low-ball number.  The home could easily sell for $450,000, but in desperation (and in the middle of grieving), she decides to sell.  And lose out on $50,000. 

If she had some time to grieve with dignity. If she had time to do a good market analysis on the home and get 3 appraisals done, she would have made an extra $50,000.

The Critical Period program does one thing: it buys your wife time.  Time so she can make the best decisions and time to grieve…

NOTE: A few Final Expense (whole life products) allow cash access along the way.

PRO TIP

If a prospect wants a summary of our meeting, I will send a message like this:

Hey there! Thanks for the conversation. It was fun to get to know you a little bit more.

Here’s a short recap (that was a lot of info to digest). This product is great for families who want to stay in their home (and have it fully or partially paid off – and not be tied to a mortgage) if a major illness or a catastrophic accident or a dread disease occurs.

One person compared it to “AFLAC” to protect a home mortgage and equity.

The unemployment or disability payments that you’d get from work would be used to pay for groceries and doctors visits and things like that, and the money provided through this product would be used to have the home paid off.

With the A-rated carrier Foresters, the premium is $23/mo (or possibly closer to $19 after they view your medical history).

Please feel no pressure from me. My job is just to present options and then help fill out some forms and advocate for you with the Carrier.

Thank you! Please let me know if there are more questions? I’m happy to help in any way.

-Eric