AM AM in big call centers

[DonP]

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

Some CO's don't allow an agent to stop a draft on the phone . And Am Am allows the agent to change checking accounts with the same bank on the phone . Until recently they even allowed the agent to change banks on the phone . I and many agents find them easy to work with . I know there's other good outfits too .

 

[jdeasy]

Some CO's don't allow an agent to stop a draft on the phone . And Am Am allows the agent to change checking accounts with the same bank on the phone . Until recently they even allowed the agent to change banks on the phone . I and many agents find them easy to work with . I know there's other good outfits too .

Most every company I write, save for Trans and SNL, allow me to do that.

And my experience with AmAm has been terrible. Long hold times. We were on hold 20 minutes with AmAm friday afternoon to get policy info.

They won't allow surrender over the phone even though they took the whole application by phone.

 

[HoosierLife]

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.

I remember moving from FEX to EFES and being terrified I would get replaced like mad.

I was going from writing kskj and Trinity to trans and rna.

I replaced just as much as I used to and my persistency was just as good.

Actually my persistency with trans was better.

Never could convince myself to write Eagle though.

I think there are 3 types of products: super competitive, competitive, not very competitive at all.

I think writing middle of the road carriers is fine for 95% of agents. Most agents aren't trained to be replacement artists… Not that that's a bad thing lol.

But for the really expensive companies, I think they probably do get replaced a lot more often.

But how many times have you been in a house that a prospect has five different policies from five different companies? We would analyze those and probably roll them all into one policy, but what about the four agents that came in the door before us?

Most are just not trained to do that.

 

[jdeasy]

I remember moving from FEX to EFES and being terrified I would get replaced like mad.

I was going from writing kskj and Trinity to trans and rna.

I replaced just as much as I used to and my persistency was just as good.

Actually my persistency with trans was better.

Never could convince myself to write Eagle though.

I think there are 3 types of products: super competitive, competitive, not very competitive at all.

I think writing middle of the road carriers is fine for 95% of agents. Most agents aren't trained to be replacement artists… Not that that's a bad thing lol.

But for the really expensive companies, I think they probably do get replaced a lot more often.

But how many times have you been in a house that a prospect has five different policies from five different companies? We would analyze those and probably roll them all into one policy, but what about the four agents that came in the door before us?

Most are just not trained to do that.

That's very true. It seems when you find a person that has made bad decisions they have made several of them. They will pull out a Bankers $3k, an LH $5K, an OA $4K and a CP term.

I wouldn't consider AmAm middle of the road. They are just too high. Same for AmMem. Sems many consider them to be middle of the road. But they are just too high.

When you pay more you don't get more. You just paid too much.

A ask people all the time after learning what they have, "do you think you are paying too much?" You would think the answer is yes 100% of the time. But it's not. Many times people say , no, it seems about right. I know people paying more.

That tells me that price was not their WHY. I ask questions to fact find. Even when I know the answer I want them to say it.

Also lets me know if I need to cut this one short and move on.

I don't cold door knock or cold call. The person asked for me to be there. They confirmed on the phone they wanted to talk to me. So my mission is find out WHY?

 

[noah]

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.

You are very clear about not wanting life insurance on the card? You say
why,too.

How do you know who throws the card away and who doesn't?

Why do they have a "tendency" to pitch it if it says life insurance?

How do you know Number 1 and Number 2 ?

Please help me understand.

Thanks

 

[jdeasy]

You are very clear about not wanting life insurance on the card? You say
why,too.

How do you know who throws the card away and who doesn't?

Why do they have a "tendency" to pitch it if it says life insurance?

How do you know Number 1 and Number 2 ?

Please help me understand.

Thanks

18 years of experience

 

[Baseball7]

I think the Final Expense prospect reads maybe 10% of what the direct mail card says, and the verbiage is 90% in our head.

 

[goillini52]

How do you know Number 1 and Number 2 ?

Please help me understand.

Thanks

#1 is peeing and #2 is pooping.

 

[jdeasy]

I think the Final Expense prospect reads maybe 10% of what the direct mail card says, and the verbiage is 90% in our head.

Probably so. It's pretty rare now to even get "I didn't know what this was about". They know what it is. They have already met with a half dozen agents.

 

[noah]

18 years of experience

Well I'm about 8-9 years in so I guess I'll have to wait 10 more years to learn the answers to those questions?

Do I keep the answers a secret ?