Client Sep

[insurance5511]

Have a client who called me today after speaking to a few agents and told me they lost their insurance 30 days ago..they said they spoke to a few agents and they couldn't do anything for her which I thought seemed odd...could it be that they lied to get Sep since another agent explained this to them?? I have an appt with her Tuesday but am skeptical. Thoughts?

 

[taterpeeler]

are you meeting with clients face to face?.... if so, super wow,

 

[AllenChicago]

are you meeting with clients face to face?.... if so, super wow,

Insurance551 has to, because something seemed odd, and he's skeptical that no one else would come to the rescue. Gotta get to the bottom of this mystery.

 

[Yagents]

Any policy u write now is a double rewrite. Twice the work to lock in a client

 

[jstocking]

Sounds like they lost their coverage due to non-payment of premium, which does not qualify for a SEP. That's the only thing I can think of that would scare everyone else away.

 

[insurance5511]

Any policy u write now is a double rewrite. Twice the work to lock in a client

Sorry new to the biz, why is that?

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Sounds like they lost their coverage due to non-payment of premium, which does not qualify for a SEP. That's the only thing I can think of that would scare everyone else away.

No she says she lost her plan, but found out she can get a plan after speaking to a few agents. Let her walk s she sounded like she was lying

 

[Yagents]

Sorry new to the biz, why is that?

It's the new game in town.........might have heard of it.....O'care.
It's where every plan terminates every year no 12/31/15, and if not, the tax credit changes each year, along with client circumstances......to which, if you write a plan for a 10/1/15 effective date, it will only be for 3 months of coverage, and then you have to talk again in November, about moving to a new plan for 2016 (due to premium, plan, income, network changes, etc)

If you keep them with same carrier, expect a lower 2nd year commission rate on them. If you move to new carrier, you'll get first year higher commission. If you get advanced on the first carrier, best be prepared for a charge back if you move them.

Write once, write em' a second time, you'll be best friends by the time your done, and your hourly rate will be under minimum wage.

I should say, I've written about 5 SEP policies in the past week, with the assumption that they will be clients again next year, and maybe long term. Gotta do a little extra work to lock them in.

 

[insurance5511]

It's the new game in town.........might have heard of it.....O'care. It's where every plan terminates every year no 12/31/15, and if not, the tax credit changes each year, along with client circumstances......to which, if you write a plan for a 10/1/15 effective date, it will only be for 3 months of coverage, and then you have to talk again in November, about moving to a new plan for 2016 (due to premium, plan, income, network changes, etc) If you keep them with same carrier, expect a lower 2nd year commission rate on them. If you move to new carrier, you'll get first year higher commission. If you get advanced on the first carrier, best be prepared for a charge back if you move them. Write once, write em' a second time, you'll be best friends by the time your done, and your hourly rate will be under minimum wage. I should say, I've written about 5 SEP policies in the past week, with the assumption that they will be clients again next year, and maybe long term. Gotta do a little extra work to lock them in.

So if I write them now 10/1 date, they stay on same plan after 1/1 I don't keep getting same commission for 1st year?? I get renewals on 1/1?? Thanx for the input

 

[russelltw]

Depends on your carrier. Confirm with your carrier. Most of mine will pay first year for 12 months after original effective date.

 

[taterpeeler]

So if I write them now 10/1 date, they stay on same plan after 1/1 I don't keep getting same commission for 1st year?? I get renewals on 1/1?? Thanx for the input

...and you trust your npn will transfer over at auto renewal? what if the plan you are writing terms and they map them over to a like plan or carrier? welcome to the business however this aint the party your recruiter told you about....its like military recuriters telling new recruits you will get to see the world and they ship your butt off to some hell hole with a gun in your hand..... it is a war zone