Cold Knocking

[wln417]

For ages 65 and over in California, you can't just walk up, door knock, go in and sign 'em up for FE - or any other insurance for that matter. You could door knock to set the appointment. You would then give them the advance notification and come back at least 24 hours later. Since that's the case, you would only have to take a minimal amount of stuff with you.

 

[onefastpony]

For ages 65 and over in California, you can't just walk up, door knock, go in and sign 'em up for FE - or any other insurance for that matter. You could door knock to set the appointment. You would then give them the advance notification and come back at least 24 hours later. Since that's the case, you would only have to take a minimal amount of stuff with you.

That sucks! Cali has some dumb a$$ laws.

 

[Thad.Sipple]

For ages 65 and over in California, you can't just walk up, door knock, go in and sign 'em up for FE - or any other insurance for that matter. You could door knock to set the appointment. You would then give them the advance notification and come back at least 24 hours later. Since that's the case, you would only have to take a minimal amount of stuff with you.

Are you sure, that's sounds like MA rules not MS or FE??

 

[WCMason]

Are you sure, that's sounds like MA rules not MS or FE??

I'd like clarification on that, too. I don't write in CA, but am about to train a relative in the business who is licensed there. Though the plan is not for him to DK or cold call.

 

[Thad.Sipple]

I'm almost 100% positive he is stating the MA rules, I'm pretty sure with MS and FE you can pretty much do whatever you want, door knock, cold call etc.

 

[wln417]

I'm pretty sure you can't door knock MA in any state.

For what I posted, it's for life and annuities. I guess MS is ok.

The below is taken from the Seniors Insurance Bill of Rights page on insurance.ca.gov:


For Life and Annuities

You must be provided with a written notice from any person who meets with you in your home in connection with the sale of a life or annuity policy [CIC §789.10]. This notice must be provided to you at least 24 hours prior to the meeting and must tell you your right to:

Understand the reason for the meeting
Invite others to the meeting, including family members
End the meeting at any time
Contact CDI for information or to file a complaint
The name, license number, and telephone number of all persons coming to your home

Obtain a full disclosure of all surrender charges and related time frames in connection with a life and/or annuity policy prior to purchase [CIC §10127.13].

 

[WCMason]

I'm almost 100% positive he is stating the MA rules, I'm pretty sure with MS and FE you can pretty much do whatever you want, door knock, cold call etc.

Inclined to agree. Not uncommon for agents to conflate the plan types, imposing MA rules--heavily restricted--on non-MA plans--far less restricted.

 

[InsKid]

As I understand wln417 is correct about this. I don't know much about how this hurdle works in practice, it's a noble idea to protect the older folks from scam artists who just barge in, sell some insurance and disappear.

Every FE company I'm contracted with has this special Calif. form available, only one requires the client to sign it (Americo). All the other carriers just say to keep a copy in your files and leave an agent signed one for the insured.

Many clients might lose it anyway but I will still have the "original" in my files, these forms aren't just for buyers, but any "in home" appointment or visit.

This might me a slight loophole:"If the senior has an existing insurance relationship with an agent and requests a meeting with the agent in the senior's home the same day, a notice shall be delivered to the senior prior to the meeting".

Can our "insurance relationship" start when she answered her door? Then she invites me in for a visit and I can make sure to deliver her the form before signing the application.

I would be interested in knowing how this is actually enforced. It seems like maybe hidden cameras or tape recorded phone calls would be needed. It comes down to the agents word against the senior who says they were never given the form and the agent saying the senior was given it in advance.

According to the letter of the law, if I door knock a senior at at 4 pm and they say tomorrow at 1pm would be perfect for an appointment, I would have to give her the form and say sorry I have to wait 24 hours, so I can't see you till 4 tomorrow.

 

[RookieYankee]

@onefastpony this is great. I think I'll use this going out on Thurs and Fri.

 

[wln417]

I think the existing relationship means you've sold something to them once already.

As for enforcement, I imagine it would only come into play if someone filed a complaint. I don't believe they employ secret shoppers like CMS, but I could be wrong.

Yeah, as the one guy said, California does seem to make a lot of dumb a$$ rules, just because we're California. To me, it's easy enough to comply with, and not worth whatever hassle you might have to endure if you don't comply.