I had the same thing happen a couple months ago. My up line called to raise hell and found out they use something called Plan F to look in to some of the questionable files. When I completed the phone interview for this guy they didn't give me the usual approval but said they needed to review it further. A couple days later I got an email stating it had been approved. After it was in force for a month or so is when they rescinded it. Of course it wasn't a little $30 per month plan either. It was a nice $140 per month one.
5-Star policy rescinded after 5 months
- Thread starter Rearden
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I had the same thing happen a couple months ago. My up line called to raise hell and found out they use something called Plan F to look in to some of the questionable files. When I completed the phone interview for this guy they didn't give me the usual approval but said they needed to review it further. A couple days later I got an email stating it had been approved. After it was in force for a month or so is when they rescinded it. Of course it wasn't a little $30 per month plan either. It was a nice $140 per month one.
- 781
Re: WTF 5-Star?
Insurance companies can make mistakes...
One time a client of mine was turned down.
She called the insurance company and told the insurance company they were wrong.
The policy was issued.
Insurance companies can make mistakes...
One time a client of mine was turned down.
She called the insurance company and told the insurance company they were wrong.
The policy was issued.
- 17,077
Here's how it happens. I get a lead I paid $26 of my hard earned for. I meet with them and learn that they bought 5-months earlier.
First I check to make sure it's not one of my guys that sold it. if it is, I bow out. If it's some dirt-bag out of towner blowing through town selling my people, it's game on.
I check to see if I can murder the rate. If no, then I check to make sure they actually qualified for the policy. I get smokers that were written as non-smokers, COPD that was ignored, I even had one that had bottled oxygen on full time with hoses up her nose.
If there is something obvious I say "I don't think the company would have to pay the claim if you died today. We can call and clarify with them if you want to..."
I don't see it as dirty. I see the traveling salesman who clean-sheeted as the dirty one.
I'm not saying Reardon clean -sheeted. But I guarantee you some other agent is behind it. And he found something.
- Thread starter
- #14
- 5,309
Re: WTF 5-Star?
Wasn't clean-sheeted.
I'll let y'all know the outcome tomorrow.
Wasn't clean-sheeted.
I'll let y'all know the outcome tomorrow.
- 26,170
Re: WTF 5-Star?
Maybe, but does not jive with " due to a "MIB follow-up coded report that conflicts with the answers you provided us."
Maybe, but does not jive with " due to a "MIB follow-up coded report that conflicts with the answers you provided us."
Re: WTF 5-Star?
That's the question I have. Why didn't the original MIB show something? Or did they just not do the MIB then? Maybe they are just now getting to it? LOL
That's the question I have. Why didn't the original MIB show something? Or did they just not do the MIB then? Maybe they are just now getting to it? LOL
- Thread starter
- #17
- 5,309
Re: WTF 5-Star?
How would an agent have any authority to influence an underwriter of a competing, supposedly "in-force" policy?
Another thing -- this was rescinded entirely; not even offered Graded. So it must be a major problem they totally missed.
How would an agent have any authority to influence an underwriter of a competing, supposedly "in-force" policy?
Another thing -- this was rescinded entirely; not even offered Graded. So it must be a major problem they totally missed.
- 3,764
Re: WTF 5-Star?
I hope to god an insurance company doesn't wait 5 months after approving a policy before doing an MIB. Maybe that's 5stars niche?
I hope to god an insurance company doesn't wait 5 months after approving a policy before doing an MIB. Maybe that's 5stars niche?
- 15,041
Re: WTF 5-Star?
To me, it sounds like a copy doing some post-issue underwriting. I guess it is their right, but I certainly wouldn't want to make a company like that one of my primary companies.
Those FE agents earn their pay sitting in pee, why should they have to give it back 5 months later because the company finally decided to run an MIB?
To me, it sounds like a copy doing some post-issue underwriting. I guess it is their right, but I certainly wouldn't want to make a company like that one of my primary companies.
Those FE agents earn their pay sitting in pee, why should they have to give it back 5 months later because the company finally decided to run an MIB?
- 26,170
Re: WTF 5-Star?
Not the tele sales guys.
To me, it sounds like a copy doing some post-issue underwriting. I guess it is their right, but I certainly wouldn't want to make a company like that one of my primary companies.
Those FE agents earn their pay sitting in pee, why should they have to give it back 5 months later because the company finally decided to run an MIB?
Not the tele sales guys.
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