I had a situation come to head today that has been going on for about 45 days and am looking for some advice.
I first got into FE about 2 and a half years ago. I was always under the impression when I rewrote polices I had to have a good viable reason to do so. You know a benefit to the client. AFter what happened today I am starting to wonder.
I ran a lead in Grand Rapids on 9/15/11. I could not get him to agree to speak with me in person because he already had a Columbian policy for quite a few years. I knew the 76 year old man was not all that sharp so I suggested he let me speak with his daughter, which he did. When I suggested I could possibly save them some money and get him a better policy, they agreed to meet with me.
He had a $6K policy and was paying $88 per month. I got him approved at Foresters on a 10K level plan at $101 a month. He also got $1750 from his cash value. He was a happy camper. I also wrote his daughter and son.
About 3 weeks after we cancelled the old policy the other agent called me and made all kinds of threats etc. He also stated to the clients that Foresters was a horrible company who would never pay when he passed. He also said there was no way the Foresters policy didnt have a 2 year waiting period. Over the next two weeks I had several calls from the two sisters who stated the agent would not leave them alone. He keept showing up and could not convince them to do anything. He writes through Mutual of Detroit. Most agents there pick up premiums from clients each month as he sometimes did. I have replaced probably 15 to 20 Mutal of Detroit policies in GRand Rapids over the past 2 years. I belive they had a merger with Columbian as they now answer the phone Columbian Insurance group. They all seem to be a bunch of snakes and their policies are some of the most expensive I have ever seen.
I got an email from Foresters today about the client requesting to cancel his policy in writing as it was being replaced. When I called the client he knew nothing about that and I even spoke with his daughters and they knew nothing about it either. According to the daughter the other agent showed up at her fathers house about a week ago when he was home alone, and actualy stold the policy from him. When she found out she called him and he said he would drop it off which he never did. It appears he forged a cancellation and rewrote a columbian policy on the guy. Knowing what I think I know about Columbian it has to be way more expensive than a Plan Right Level?
I am meeting with the client on Tuesday to reinstate the Foresters policy. I am not so naive to not consider the guy just didnt want to tell me he cancelled his policy but he swears up and down as do his daughters that he will not do anything financial without them being involved. And they keeep calling me asking me what they can do?
Any suggestions on how to handle this would be appreciated.
I first got into FE about 2 and a half years ago. I was always under the impression when I rewrote polices I had to have a good viable reason to do so. You know a benefit to the client. AFter what happened today I am starting to wonder.
I ran a lead in Grand Rapids on 9/15/11. I could not get him to agree to speak with me in person because he already had a Columbian policy for quite a few years. I knew the 76 year old man was not all that sharp so I suggested he let me speak with his daughter, which he did. When I suggested I could possibly save them some money and get him a better policy, they agreed to meet with me.
He had a $6K policy and was paying $88 per month. I got him approved at Foresters on a 10K level plan at $101 a month. He also got $1750 from his cash value. He was a happy camper. I also wrote his daughter and son.
About 3 weeks after we cancelled the old policy the other agent called me and made all kinds of threats etc. He also stated to the clients that Foresters was a horrible company who would never pay when he passed. He also said there was no way the Foresters policy didnt have a 2 year waiting period. Over the next two weeks I had several calls from the two sisters who stated the agent would not leave them alone. He keept showing up and could not convince them to do anything. He writes through Mutual of Detroit. Most agents there pick up premiums from clients each month as he sometimes did. I have replaced probably 15 to 20 Mutal of Detroit policies in GRand Rapids over the past 2 years. I belive they had a merger with Columbian as they now answer the phone Columbian Insurance group. They all seem to be a bunch of snakes and their policies are some of the most expensive I have ever seen.
I got an email from Foresters today about the client requesting to cancel his policy in writing as it was being replaced. When I called the client he knew nothing about that and I even spoke with his daughters and they knew nothing about it either. According to the daughter the other agent showed up at her fathers house about a week ago when he was home alone, and actualy stold the policy from him. When she found out she called him and he said he would drop it off which he never did. It appears he forged a cancellation and rewrote a columbian policy on the guy. Knowing what I think I know about Columbian it has to be way more expensive than a Plan Right Level?
I am meeting with the client on Tuesday to reinstate the Foresters policy. I am not so naive to not consider the guy just didnt want to tell me he cancelled his policy but he swears up and down as do his daughters that he will not do anything financial without them being involved. And they keeep calling me asking me what they can do?
Any suggestions on how to handle this would be appreciated.
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