Agents Coming Back to Save Business

[jdeasy]

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.

I average 6+ policies per week and have for 7 or 8 years now. I work 14 counties. I deliver policies.

There was a time I didn't. I went back to delivering policies about 3 years ago. My production also went up when I went back to delivering.

It's not physically impossible. But it's to each agent to decide. I'm glad I went back to delivering. It's one more thing that separates me from other agents.

When i do replacements I ask if the other agent delivered the policy. Most of the time the answer is no. That gives me another chance to let them know they are in different hands now.

 

[PA Bill]

Don't underestimate how much value the average FE client places on YOU. If you were able to make a solid personal connection and put them in a better place coverage wise, they will stick with YOU. If you don't connect personally and they even dislike YOU, they will sometimes pay MORE to get rid of YOU and vice versa. At the end of the day, YOU have control over this.

 

[cowgoesMoO]

how exactly are all replacements unethical?

I have done 4 replacements this month, increasing clients coverage.

One guy was rated as a table 2 four years ago, and now he got preferred with another company, I was able to save him money and lengthen his term.

The other replacements I've done have been on those WL plans they buy through the mail. I'm able to get them their cash value or have a small paid up policy(whichever they prefer) and increase their life insurance with a small increase in premium.

I think it's a broad sweeping statement to say that replacements are unethical. Just because you've known people who will do anything to get a commish....

 

[Jerard]

how exactly are all replacements unethical?

I have done 4 replacements this month, increasing clients coverage.

One guy was rated as a table 2 four years ago, and now he got preferred with another company, I was able to save him money and lengthen his term.

The other replacements I've done have been on those WL plans they buy through the mail. I'm able to get them their cash value or have a small paid up policy(whichever they prefer) and increase their life insurance with a small increase in premium.

I think it's a broad sweeping statement to say that replacements are unethical. Just because you've known people who will do anything to get a commish....

Even though it's hard to believe I'm talking to a talking cow, I agree with you. There are alot of bad deals out there (we all know who those are...) and if you can better their situation you should do it. But in doing so you have to consider all aspects of the replacement (and we all should know what those are...).

 

[WinoBlues]

Even though it's hard to believe I'm talking to a talking cow, I agree with you. There are alot of bad deals out there (we all know who those are...) and if you can better their situation you should do it. But in doing so you have to consider all aspects of the replacement (and we all should know what those are...).

The problem is we can all justify whatever we want.

 

[moonlightandmargaritas]

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?

Put a cap in him?

 

[rousemark]

Put a cap in him?

Might work.... If you have good aim..

 

[Jerard]

Might work.... If you have good aim..

I hear the aim is the third thing to go....

 

[Bcrane0305]

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...

That is an insurance professional.

 

[rousemark]

That is an insurance professional.

Jerad?