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Does that sound like a desperate person looking for final expense life insurance? Well, the companies hope so, but that is really the stance of the companies wanting to bank the policies of seniors willing to overpay for life insurance.

It’s certainly not news that I have a bone to pick with final expense life insurance companies or those companies that think senior life insurance needs to be no exam or guaranteed issue. I get mail and emails several times a week from those companies wanting me to sell their products. It doesn’t have the desired effect.

I received an email today asking me to call right away to sign up to sell final expense policies for Settler’s Life. Even though the email says for agents only, I figure since I’m not one of their agents they probably don’t mind me sharing their pitch with the public.

What I would like us seniors to come away with is an appreciation of just how much these kind of companies want your business. You can’t tell it from looking at the client side of their pitch, but when you look at the agent side, well, they do everything but give a free cruise for every policy sold.

• Competitive Commissions with Generous Advances Available – They give advances so they can get anyone into this. Successful agents don’t take advances.
• High Renewal Commissions – The only way to pay a high renewal commission is on an overpriced product.
• Freshly Generated Leads – They are beating your mailbox and the airwaves to death so agents can call you. This isn’t cheap and the sold policies paying for it aren’t either.
• Vested 100% Upon Appointment – You get their highest commission level right from the start. Most companies raise your commission level as you prove yourself.
• Daily Commissions and Electronic Pay – Again, a lure to get anyone and everyone selling it. Daily commissions? Most companies pay at most weekly of biweekly.
• Weekly Sales Contest – Probably not a cruise, but no doubt even more money.
• Personalized Agent Support – This is the trouble line when the new agent finds out the product stinks and can’t get anyone to buy it.
• Annual Top Producer Conference – This is the cruise for those agents who have proven they can overcome all logic and sell this to unsuspecting seniors in spite of the product and the price.

Bottom line. So, built into the price of this gem of senior life insurance are all the goodies that it will take to suck anyone into selling the product, as long as they don’t care about their client getting the best deal.