ASAP PLEASE Need rate for Bankers life.. possible unethical replacement

[Ksutton]

Devil's advocate question...please don't take offense.

OP got him 10K coverage for $138/mo

Bankers got him 10K coverage + $10K accidental (we're assuming) for $115/mo

Isn't the consumer better off now?

yeah.... if that's the case... obviously

 

[fed up]

I haven't written a Bankers Policy since 2010. At that time we had 2 WL policies for seniors, field Underwritten and Graded. Field Underwritten was immediate issue. If the eyes were open and the person was breathing I could field underwrite as long a 5 questions were answered "NO". Don't really rememeber the 5 questions but may have been: Stroke in last 5 years, Heart attack in last 5 years, In a care facility, Cancer active or treatment...don't remember #5. I wrote my Dad a less expensive, more coverage policy without a 2 year wait for less than a Met Life graded policy he had. If you don't know the details of the policy the customer took, don't bash the competition for beating you. If the customer files a trial app and is not sure if he will replace, is there a replacement form necessary?

 

[PA Bill]

I haven't written a Bankers Policy since 2010. At that time we had 2 WL policies for seniors, field Underwritten and Graded. Field Underwritten was immediate issue. If the eyes were open and the person was breathing I could field underwrite as long a 5 questions were answered "NO". Don't really rememeber the 5 questions but may have been: Stroke in last 5 years, Heart attack in last 5 years, In a care facility, Cancer active or treatment...don't remember #5. I wrote my Dad a less expensive, more coverage policy without a 2 year wait for less than a Met Life graded policy he had. If you don't know the details of the policy the customer took, don't bash the competition for beating you. If the customer files a trial app and is not sure if he will replace, is there a replacement form necessary?

Yes, and thinking otherwise just may cost you $2500.

 

[goillini52]

If the customer files a trial app and is not sure if he will replace, is there a replacement form necessary?

I would say yes. Always CYA.

 

[Life Hawk]

I haven't written a Bankers Policy since 2010. At that time we had 2 WL policies for seniors, field Underwritten and Graded. Field Underwritten was immediate issue. If the eyes were open and the person was breathing I could field underwrite as long a 5 questions were answered "NO". Don't really rememeber the 5 questions but may have been: Stroke in last 5 years, Heart attack in last 5 years, In a care facility, Cancer active or treatment...don't remember #5. I wrote my Dad a less expensive, more coverage policy without a 2 year wait for less than a Met Life graded policy he had. If you don't know the details of the policy the customer took, don't bash the competition for beating you. If the customer files a trial app and is not sure if he will replace, is there a replacement form necessary?

Then answer is yes. And if you are speaking of my Trans friends... then the policy could have been inactive for the past 6 months, but they want a replacement form...

Can someone explain to this stupid insurance guy, how exactly are you "Replacing" a policy that is no longer a policy???

 

[fed up]

Then answer is yes. And if you are speaking of my Trans friends... then the policy could have been inactive for the past 6 months, but they want a replacement form...

Can someone explain to this stupid insurance guy, how exactly are you "Replacing" a policy that is no longer a policy???

which stupid insurance guy?

 

[goillini52]

which stupid insurance guy?

He's referring to himself.

Are there more out there?

 

[Life Hawk]

which stupid insurance guy?

Yes I was referring to me... I mean him... no,no... him, no but that's me... ok, then you... no you still mean me... WHAT EVER!

 

[Life Hawk]

He's referring to himself.

Are there more out there?

It is Friday and I take no responsibility for my actions... including my key strokes!

Facebook will probably ban me.

 

[Ksutton]

I haven't written a Bankers Policy since 2010. At that time we had 2 WL policies for seniors, field Underwritten and Graded. Field Underwritten was immediate issue. If the eyes were open and the person was breathing I could field underwrite as long a 5 questions were answered "NO". Don't really rememeber the 5 questions but may have been: Stroke in last 5 years, Heart attack in last 5 years, In a care facility, Cancer active or treatment...don't remember #5. I wrote my Dad a less expensive, more coverage policy without a 2 year wait for less than a Met Life graded policy he had. If you don't know the details of the policy the customer took, don't bash the competition for beating you. If the customer files a trial app and is not sure if he will replace, is there a replacement form necessary?

I'm not "bashing competition for beating" me. If he got a better policy that is GOOD for him and his family. No replacement form = Sketchy.....This means the agent had to answer NO on the app for replacing a policy.....if one can justify a little lie they can justify a big one - Hand written cancellation with 2 different pen types - 1 as Signature and one as the written note... sketchy. At least carry a generic typed up cancellation and have it next to your replacement paperwork and wait until the policy issues before totally cancelling another one....
The client being in that state of health getting a better deal = sketchy. Regardless, IF the Bankers policy was/is truly better why not file a replacement paperwork and why would you have a client cancel a policy before an official approval / policy to compare? At the least just take it off of Auto Bank...Its all just a bunch of crap. It does not paint an ethical picture for the agent.