Bankers Life Managers Ethics

[bgreen292000]

I recently left blc for another company. I had client that wanted the change the account that from which she was being drafted. Instead of doing a new bank draft they cancelled the policy which cost me a $500 charge back and rewrote it with their names on. By the way these two were managers. Are there any ethic vialations that I may need to presue. If they done it to me whats to stop them from doing it to orher agents?

 

[Jerard]

I recently left blc for another company. I had client that wanted the change the account that from which she was being drafted. Instead of doing a new bank draft they cancelled the policy which cost me a $500 charge back and rewrote it with their names on. By the way these two were managers. Are there any ethic vialations that I may need to presue. If they done it to me whats to stop them from doing it to orher agents?

Most of the managers do crap like that to everyone. BL is ISIS of the insurance industry.

 

[Norwayguy]

I recently left blc for another company. I had client that wanted the change the account that from which she was being drafted. Instead of doing a new bank draft they cancelled the policy which cost me a $500 charge back and rewrote it with their names on. By the way these two were managers. Are there any ethic vialations that I may need to presue. If they done it to me whats to stop them from doing it to orher agents?

Well that sounds like Banker's. Not much you can do but the client could file a complaint with the DOI if they were harmed. You can try and use it in negotiations with Banker's commison/collections dept.

BTW the spelling errors make your post hard to read.

 

[pfg1]

I believe that would be classified as churning. Was there any need for her to have a new policy, other than for them to get another commission? You didn't post the details of the policy, so its hard to say if or how she may have been hurt by replacement. If she was, I would let her know she can file a complaint.

 

[moonlightandmargaritas]

Instead of doing a new bank draft they cancelled the policy which cost me a $500 charge back and rewrote it with their names on. By the way these two were managers. Are there any ethic vialations that I may need to presue.

Of course there are. Not worth your time to pursue it though.

If they done it to me whats to stop them from doing it to orher agents?

I believe the correct choice of words would be: "If they DID it to me..."

 

[bgreen292000]

It was a easy issue life policy.

 

[Norwayguy]

It was a easy issue life policy.

It's an epidemic inside Banker's. .. What 15 years ago when I was with them every monthly sales meeting had at least one story if an agent from the other bankers office in the state coming into a policyholders home ripping up the business card if the existing agent saying he is no longer with the company and the home office sent me to fix their mistakes ie rewrite an existing policy.

If it wasn't for the stories every month I would not believe it as it causes the carrier to have to pay FYC again but then again they just charge back the other agent.

 

[Jerard]

It's an epidemic inside Banker's. .. What 15 years ago when I was with them every monthly sales meeting had at least one story if an agent from the other bankers office in the state coming into a policyholders home ripping up the business card if the existing agent saying he is no longer with the company and the home office sent me to fix their mistakes ie rewrite an existing policy.

If it wasn't for the stories every month I would not believe it as it causes the carrier to have to pay FYC again but then again they just charge back the other agent.

You would think it's things like this that caused DOI's to be created in the first place.

 

[Norwayguy]

You would think it's things like this that caused DOI's to be created in the first place.

Yeah but how many CLIENTS complain oh they might b!tch to you or me but to actually complain to the DOI.

 

[GoPokes]

It is my understanding that the DOI rarely will intervene when an agent makes a complaint against another agent. The DOI is there for the consumer, if the consumer makes a complaint, they will take it seriously.

Perhaps you could just find a better priced plan for her with a different company, and go write it! (Assuming you are still int he FE biz, if not, just refer her to somebody that can help her get a better deal)