How exactly do these senior life insurance sales scams work?

Its sustainable if you get your name out there and sell big policies. It's hard to make a living selling GIWL.

Side note, posting your pay stubs online is a huge douche move.

Its like shooting fish in a barrel. Old people will pay their life insurance bill before they buy meds or food. I know a lot of older people need to have a small burial policy or may need a bigger policy for their spouse. But the people they prey on these old folks are going to burn in hell.

nve mind

Is this a MLM?

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What kind of insurance is specifically senior life? Are we just talking term life policies

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No, its guaranteed issue or simple non-med.

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The average funeral cost is over $10,000!"

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no it isn’t

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Is this a MLM?

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I believe it is. He is constantly trying to get people to come work for him to “make them rich”

It's not a "scam" in that it's a legitimate product of a legitimate insurance carrier and the death benefits are paid as advertised. The "scam" might be the obvious problem of an 80 year old buying a 10k life insurance policy for $100 a month or more-a desperate move. The industry name for this is "Final expense". It's whole life , issued to the elderly, for very small amounts. 5k to maybe 25k. Obviously the worse their health/older they are, the more expensive it is.

Sales guys for this generally buy "leads" from IMO's and then visit the client. It can be issued immediately or almost immediately, usually after a prescription check and a phone interview. The agents are generally paid a percentage of the first year premium. So obviously if the agent can crank these out every week, since the premiums are expensive, there is money to be made.

If a low-budget insurance slimeball is putting checks on the internet he is trying to recruit other agents elsewhere to be his "downline". He would then get a cut of all their policy commissions forevermore. Obviously if you have 10 agents you can do very well. Anytime a life insurance job is marketed to you from a Multi level marketing angle, you should RUN as fast as you can. Unless you aspire to feed at the bottom.

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It's not a "scam" in that it's a legitimate product of a legitimate insurance carrier and the death benefits are paid as advertised. The "scam" might be the obvious problem of an 80 year old buying a 10k life insurance policy for $100 a month or more-a desperate move. The industry name for this is "Final expense". It's whole life , issued to the elderly, for very small amounts. 5k to maybe 25k. Obviously the worse their health/older they are, the more expensive it is. Sales guys for this generally buy "leads" from IMO's and then visit the client. It can be issued immediately or almost immediately, usually after a prescription check and a phone interview. The agents are generally paid a percentage of the first year premium. So obviously if the agent can crank these out every week, since the premiums are expensive, there is money to be made. If a low-budget insurance slimeball is putting checks on the internet he is trying to recruit other agents elsewhere to be his "downline". He would then get a cut of all their policy commissions forevermore. Obviously if you have 10 agents you can do very well. Anytime a life insurance job is marketed to you from a Multi level marketing angle, you should RUN as fast as you can. Unless you aspire to feed at the bottom.

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All of this is true. This guy gets it.

I could not sell insurance since it involves bullshitting people into opening their wallets.