Agents Coming Back to Save Business

[WinoBlues]

After a replacement how do you guys like to make sure the previous agent will not be coming back saying anything to conserve the policy? Thanks

By doing a good replacement. One that make sense for my new clients.

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I am assuming he had requested information from different companies and the guy who called him pounded foresters is junk down his throat until he could not breathe anymore. I always show my clients the BBB rating as well as the financial security rating. I've come to realize agents behind you will say whatever they have to say to steal your business.

Steal your business? Kinda like you stole his?

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I am assuming he had requested information from different companies and the guy who called him pounded foresters is junk down his throat until he could not breathe anymore. I always show my clients the BBB rating as well as the financial security rating. I've come to realize agents behind you will say whatever they have to say to steal your business.

Steal your business? Kinda like you stole his?

 

[Jerard]

I hear an echo.......

 

[WinoBlues]

I hear an echo.......

Ha. Old man shaking hands. :(

 

[Big Stick]

How do you know he didn't find a better deal? But anyway, to answer your original question... I don't do many replacements but I pretty much say the same thing after the sale to "warn" them about anyone coming in behind me. I do this at policy delivery: "Mr. Snatchbucket, you know there are alot of agents out there, and believe it or not some are not honest. The reason I personally deliver my policies is to show you in black and white that you are getting exactly the same thing I told you would get. But let me show you a couple of tricks some of these other guys may do to try and steal your plan away from you." At this point I'll go over the non-fort table with focus on the cash value buildup.."Mr. S...some of them will show you this and tell you that the policy isn't in full benefit for 3 years...see here....but that's the cash value column. Now see this column... (show the extended term column), if you were to make payments for just 15 years the policy will still be good (put your finger on it) for 17 years and 345 days after you stop making payments (YMMV)." I also explain the contestability section: "Now...see this section? Every life insurance policy for every company in every state has this same part......" Then go over that part and 'splain how it works. "Mr. S...let's say I asked you if you had been in a hospital within the last 4 years...and you tell me "no" so the policy gets approved. Then let's say after 3 years you're going over old medical bills and you discover that it had actually been 3 1/2 years since you were last in the hospital. This section says that if you made an honest mistake then the policy has to pay off after 2 years no matter what! This keeps people from worrying about their policy for years and years down the road. That's a good thing, huh?" Well, anyway...Happy Easter, y'all...

Very good info.
I never delivered policies before until agentguy5 made a passionate case for it. Originally, I didn't think I had the time for it. After 1month of delivering policies, It's now part of my permanent business plan. Retention is just one many benefits.

 

[rousemark]

It is unethical to do replacements...

Even when it is Lincoln Heritage being replaced?

 

[KidsGotHeart]

How do you know he didn't find a better deal?

But anyway, to answer your original question...

I don't do many replacementsbut I pretty much say the same thing after the sale to "warn" them about anyone coming in behind me. I do this at policy delivery:

"Mr. Snatchbucket, you know there are alot of agents out there, and believe it or not some are not honest. The reason I personally deliver my policies is to show you in black and white that you are getting exactly the same thing I told you would get. But let me show you a couple of tricks some of these other guys may do to try and steal your plan away from you."

At this point I'll go over the non-fort table with focus on the cash value buildup.."Mr. S...some of them will show you this and tell you that the policy isn't in full benefit for 3 years...see here....but that's the cash value column. Now see this column... (show the extended term column), if you were to make payments for just 15 years the policy will still be good (put your finger on it) for 17 years and 345 days after you stop making payments (YMMV)."

I also explain the contestability section: "Now...see this section? Every life insurance policy for every company in every state has this same part......" Then go over that part and 'splain how it works. "Mr. S...let's say I asked you if you had been in a hospital within the last 4 years...and you tell me "no" so the policy gets approved. Then let's say after 3 years you're going over old medical bills and you discover that it had actually been 3 1/2 years since you were last in the hospital. This section says that if you made an honest mistake then the policy has to pay off after 2 years no matter what! This keeps people from worrying about their policy for years and years down the road. That's a good thing, huh?"

Well, anyway...Happy Easter, y'all...

Do most of your clients have no coverage or do you usually add additional coverage?

 

[senior-advisor-indiana]

Even when it is Lincoln Heritage being replaced?

Especially when it is LH...

 

[KidsGotHeart]

It is unethical to do replacements...

Truth for about 90% of the replacements that take place.

 

[Jerard]

Do most of your clients have no coverage or do you usually add additional coverage?

Most don't have any.

 

[goget]

If one is writing 5-10 policies a week and working 8-10 counties in rotation it's physically impossible to hand deliver policies . Also think about how hard it was to find a time for appt to begin with. Trying to hand deliver everything would be a nightmare .I just decided my overall time and profitability is much better spent writing additional policies verses hand delivering.