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"So, remember this one phrase, "one and done." Whether selling Forethought over the phone or at the dinner table, tell the customer if they give you 30 minutes right now, they will never have to speak about it again. Providing them with an end-of-life solution is far more important than selling them a final expense policy."

 



To our Valued Marketing Partners,

 

First of all, let me thank each and every one of you for your support of Forethought. We have achieved great success since you've joined us, and you have my commitment that we will continue to build a company of which we can all be proud.

 

I built this division, this product for you...and for my father. I knew you wanted a place to call home, a competitive product with the best underwriting and marketing team in the business, quick policy turnaround and great commissions. I also knew our product, ForeLifeSM , had to be good enough for my father. Dad is 79 and still active. A retired Marine officer who served in Korea, Vietnam and as a drill instructor on Parris Island, he always felt his veteran's benefit or the government would cover his burial expenses. Yes, he's qualified for a $300 burial allowance and a $300 plot interment allowance from the VA, but hardly enough to cover an inexpensive cremation or bare bones funeral service. And this is strictly a reimbursement plan meaning a loved one left behind must gather and submit forms to receive any monies back from the VA.

 

The fact is that my father, your mom and dad, grandmother and grandfather and all those you call on every day need burial or final expense insurance. Recently, I've been meeting with agents and agencies around the country speaking about the three things that touches a senior's life. Health and money issues dominate their daily calendar and conversation, but one topic that remains fairly silent yet ever present is the discussion of death.

 

Recently, the following question was posed to me. "Is there a person you've known that doesn't need final expense protection?" I simply looked at the agent and said, "No, the reality is everyone dies." And death doesn't have a timeline. It could be an accident, disease or illness, but it will happen. The problem is that I have yet to find a person who finds speaking of their own demise as an enjoyable conversation. So, remember this one phrase, "one and done." Whether selling Forethought over the phone or at the dinner table, tell the customer if they give you 30 minutes right now, they will never have to speak about it again. Providing them with an end-of-life solution is far more important than selling them a final expense policy.


 

TIP: Please understand that when calculating a final expense solution, you must include funeral cost inflation...a figure hovering around 3% today. So, if you are calculating coverage and premiums for a 65 year old with another 15 years of life expectancy, you should consider increasing the death benefit to cover this inflation. Essentially, I would take your client from $7,000 to possibly $10-12,000 in coverage. Of course, no insurance is effective unless your client can afford to pay for it, each and every month. So, affordability has to be considered. A little is far better than nothing at all.
Why Forethought?
This was asked to me yesterday by an agent who told me he had a couple of "cheaper" products from competitors. I asked him if cheaper quotes are going to help the families left behind. I further asked him if he would be happy paying a funeral home 50% of the cost of the funeral on his credit card while the funeral home tried to access the death claim benefits from the insurance company that one day may or may not pay the claim. Until 2004, Forethought's sister company was Batesville Casket Company, the largest casket manufacturer in the world. Our roots and our relationships are with the funeral homes, cemeteries and end-of-life professionals who help families deal with death every day. And if you're selling final expense insurance to primarily cover death expenses, then work with an insurance carrier that specializes in death. Fraternals, associations, and others selling final expense as a "line" item in a product portfolio miss the essence of the sale. The policy is the funding piece, but the network of funeral planners, our staff of licensed funeral counselors, and our heritage in helping families before, during and after death is a story as compelling to sell as it is to buy.

I would ask all of you to understand and communicate the Forethought story. You will make more money and find greater satisfaction selling solutions instead of price. Find the affordability factor of your client. Conduct a "one and done." And let them join the 2 million families we have served and continue to be in the industry's best by interviewing, underwriting, and issuing your policies same day.

As always, I'd love to hear your thoughts and suggestions. Please email me anytime at steve.bontell@forethought.com. On behalf of your Forethought family, thanks for all you do for us!



Steve Bontell
Senior Vice President
Forethought Life Insurance Company

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 Product Information

Forethought® ForeLifeSM is a whole life product designed to cover the costs associated with end-of-life expenses including funeral expenses, medical bills, or other obligations that may occur when the client dies. In addition to the simplified product, Forethought® ForeLifeSM also provides you with a unique value offering for your clients.

The following are highlights of the products and services offered.

Service Highlights

ForeHelpSM:

Clients call 1-877-644-4401 to reach staff professionals that can assist with:

  • Education on end-of-life subjects
  • Assistance and guidance in making decisions on end-of-life needs
  • Planning tools to make it easier on family and loved ones

Forethought Funeral Planning NetworkSM:
Access to the largest end-of-life assistance network in the US

  • Over 5,000 local and national end-of-life professionals
  • Planning tools to make it easier on family and loved ones
  • Commitment to helping families at their time of need

ForeFamiliesSM:

Eliminate the need for clients to pay for services out of pocket with hope of reimbursement from the insurance carrier.
Upon death of the insured, beneficiary(s) receive the full policy amount within 48 hours.*
*Some restrictions apply.