50 Year Old - No Bank Account

[smokin goose]

If the prospect/suspect only keeps the policy for one month and then drops it, at least they had coverage for one month. What I suggested is to write em up, knowing the probabilitites of a lapse is very high (that's just the way it is, I don't make up the rules).

This is much better than doing nothing, because then they wouldn't even of had the one month's coverage.

I can only control them paying the premium each month by how much baby sitting time I wish to invest into this one case of biz. Those type of clients are for the debit (home collection agents).

Please share your wisdom on "doing what's best for the client" as you mentioned in your 2nd sentence above.

In your first post you said at least you'll earn comp for a couple months. You didn't say at least he'll have a couple months coverage.

The commission is the byproduct (reward) for helping people in my opinion. To each their own.

 

[theinsuranceman]

In your first post you said at least you'll earn comp for a couple months. You didn't say at least he'll have a couple months coverage.

The commission is the byproduct (reward) for helping people in my opinion. To each their own.

I kinda figured everyone up here would easily understand that the proposed insured would have to be on the books if I'm receiving comp. Sorry, my bad.

You still haven't shared what you meant by the 2nd sentence "do what's right for the customer" a few posts above. I'm open minded and always eager to learn something new.

 

[gordon112]

....This thread is still going, ...here is a clue, limit your exposure to direct billing. There is a reason why many insurance companies and agents avoid it. Simple, it doesn't stick.

 

[deadhead]

I am still getting renewals from DBs I wrote yrs ago

 

[gordon112]

I am still getting renewals from DBs I wrote yrs ago

I do have some as well, % wise they are well below par, being monthly.

I have more 6month and annual that stay on the books. Matter of fact, its better then monthly PAC business.

 

[deadhead]

Staying in touch with customers and building relationships can usually keep poachers at bay and business on the books

 

[Mattschmidt]

Staying in touch with customers and building relationships can usually keep poachers at bay and business on the books

Well said. If a client trusts you, and wants to work with you, they will think twice about switching plans and agents. If you provide value, you can be very successful in this busineess

 

[Dragline]

What do you think? Would you quote a prospective client who I suspect has no bank account. Is there any company that will write a policy on anyone without a bank account?

Client is a 50 year old non-smoking male with diabetes/hbp takes oral medication for it. No other health issues.

Just asking because I think I'm going to run into this situation again and wanted to know if it was worth my time and trouble.

From my perspective and experience, this is a pass.

Its not worth it.

They won't pay and you'll get calls each month they do have the inspiration to do so wanting/expecting you to come pick it up.

It is a colossal waste of time.