AM AM in big call centers

[Baseball7]

You always have such interesting stories about replacements, but there's so few and far between it's really not a valid thing for an independent agent to be so damn terrified of.

you will lose more business to lapses then replacements probably 100 times over.

 

[jdeasy]

You always have such interesting stories about replacements, but there's so few and far between it's really not a valid thing for an independent agent to be so damn terrified of.

you will lose more business to lapses then replacements probably 100 times over.

Me and every other FEX agent. I'm not at all scared about replacements. I don't get replaced. Or not replaced that sticks anyway. I can count on one hand the times I've knowingly replaced and it stuck. Except for 15 years ago when I wrote LH. It got replaced.

I never get people the best price they qualify for out of fear. I do it because I think it's the right thing to do.

So, you are correct that I would lose more to lapses than to replacement. And I don't lose many to lapses either.

Look, I know the spiel. I've been with IMO's that pushed me to over priced companies because they made more on those companies. And you post from that perspective. I do not. I post from the producer's perspective.

You want a good replacement story? I was replaced last week. Lady had $10K with me. She also had 2 $5K AIG policies. The AIG's were almost 5 years old. Mine was a little over 2 years. She had $900 total cash value. She liked the cash value. He writes her GTL graded to replace the 3 policies. Except he for got to tell her it was graded. Actually he didn't forget, he told her it was immediate coverage. He is kinda forgetful though. He also forgot to do replacement forms. He also forgot to cancel the policy after the lady called him back and told him she didn't want it. So she was charged today. We got everything put back in place today. GTL says they are sending her a refund. The agent has a DOI complaint on the way.

 

[Baseball7]

See you in a few weeks

 

[jdeasy]

See you in a few weeks

6 to be exact!!

 

[DonP]

I got to agree with baseball . Just being in the top tier is good enough . I prep my clients like few agents do . If I replace i go over 3-4 times the agent will be calling you or knocking on your door . DO NOT TALK TO HIM !!! I'm your agent from now on . Jd surely you run into people that just won't switch . They've had the policy years and are attached . I have so many leads flying in between mapd and fe I only have time for serious people .

 

[jdeasy]

I got to agree with baseball . Just being in the top tier is good enough . I prep my clients like few agents do . If I replace i go over 3-4 times the agent will be calling you or knocking on your door . DO NOT TALK TO HIM !!! I'm your agent from now on . Jd surely you run into people that just won't switch . They've had the policy years and are attached . I have so many leads flying in between mapd and fe I only have time for serious people .

Occasionally someone won't. But it's pretty rare if what I can offer is clearly better. I'm not cold knocking and just finding policies. They had that policy when they mailed in the card. And they all know what the card is about.

I had a lady last week with the mofo GI that was about a month old. Completely healthy lady. I offered FU even. She just said, "I know I should do what you are offering. It's really dumb to keep this mofo. But that's what I'm gonna do". I was gone from there in less than 10 minutes.

That's so rare as to be shocking. I still can't believe she didn't switch. I can't remember that ever happening. But she knew it was a 2 year wait and was OK with it. Most people get mad once they find that out. She did tell me that had bought the mofo after mailing the card. She said no one contacted her so she went on line and bought the mofo. I told her I had just gotten the card. But this is a small county that I only get to work every 4 or 5 months. They probably let those build until they had 15 to send me?

She even volunteered, "had you got here first I would signed up with you".

Long answer to your question. So no, they don't all switch.

But that's why I don't want life insurance on my mailers. People with life insurance have a greater tendency to throw the life insurance card away. I want to meet with people that already have life insurance. Number 1, it shows me that life insurance is important to them. Number 2, it shows me that they are OK with bank drafts for life insurance. Although that objection has pretty much gone away over the time I've been in this business. I'm more likely to hear now, I'll only do this if you can take it automatically. Than, I won't do bacnk drafts. I can't even remember the last time a person balked at bank draft.

But I know all the companies. I know who doesn't take DE. So when they show me that company I know they are using bank drafts and not DE. If they show me Trans or Trinity I'll have to ask at some point.

I find people's WHY before I make any moves. If I don't get a WHY, I don't do a presentation. I only present to interested people.

 

[Todd King]

AmAm is a very strong carrier to write. They have decent rates on most age ranges and very competitive smoker rates. Price isn't everything as is said in previous posts. AmAm is one of the most profitable companies an agent can write due to true social security billing, good customer service, good riders like child/grandchild/nursing home waiver of premium etc. The value is there. At the end of the day the best insurance policy is the one that is inforce when the client passes away. AmAm does a stellar job with this.

I think the main reason the call centers like them is because they are set up for a call center environment. Easy to do business with. Good customer service, etc.

 

[DonP]

Am am example . 2 weeks ago client called me and said could he postpone his draft this month and double draft next month . Called am am 1 min hold . They pulled off draft and set up double draft . Took 3 mins . A great unethical salesman cam replace anything . Your $10 k $ 55 a month mine $65 . " Mrs Johnson you seen how much the price of gas and food going up ? Funerals same thing . $10k is not enough . I can give you $13 k for $75 a month . A few more dollars for 30% more coverage . And your with a big company vs a tiny one . You can sleep at night . That's why I sell value over raw price .

 

[jdeasy]

Am am example . 2 weeks ago client called me and said could he postpone his draft this month and double draft next month . Called am am 1 min hold . They pulled off draft and set up double draft . Took 3 mins . A great unethical salesman cam replace anything . Your $10 k $ 55 a month mine $65 . " Mrs Johnson you seen how much the price of gas and food going up ? Funerals same thing . $10k is not enough . I can give you $13 k for $75 a month . A few more dollars for 30% more coverage . And your with a big company vs a tiny one . You can sleep at night . That's why I sell value over raw price .

What company won't let a clint skip a payment and double up next month? Other than maybe someone like trans?

 

[WinoBlues]

I got to agree with baseball . Just being in the top tier is good enough . I prep my clients like few agents do . If I replace i go over 3-4 times the agent will be calling you or knocking on your door . DO NOT TALK TO HIM !!! I'm your agent from now on . Jd surely you run into people that just won't switch . They've had the policy years and are attached . I have so many leads flying in between mapd and fe I only have time for serious people .

Same. I am virtually never replaced. Not counting self replacement. Never by Term 'specialist', Never by FE 'specialist'. If I am I am not made aware of it. I can not remember the last chargeback, outside of a claim, years ago.

We always hear price is king, F2F replaces phone sales, Has to be an A-rated company, Guarantees matter, yeah but not those guarantees, You have to hand-deliver policies. You have to wear a purple shirt. No tablet, use a tablet. American car, No middle-income prospects, this company is always replaced by this other company. yada yada yada

Somehow, tiny little nonrated companies are still here, Edelivery is a growing thing, Phone agents are thriving and somehow not being wholesale replaced, That scary tech stuff is the norm.