Devoted to the Insurance industry and all thing related

If you’re a life agent in Georgia you may or may not have received an email of fax solicitation regarding a “zero cost” or “zero payment” final expense insurance policy.  According to National Underwriter “The Georgia Department of Insurance is looking into companies that are offering ‘zero cost’ and ‘zero payment’ “final expense insurance policies” to consumers ages 65 to 85.”

Agents are being enticed with $250 fees for placing a policy with the company offering the insurance policies.  However, there is no mention of the insurance company backing the policies and according to Georgia officials the communications “indicate or imply that it has already been approved for sale in the State of Georgia.”  

Agents are not allowed to participate in the sale of these policies until the Georgia Department of Insurance has completed their investigation.  I can’t imagine why an agent would want to sell these policies from some unnamed company and risk losing their license.