Direct Billing Question

[jerryrut]

Well, I’ve survived for 30 years with no end in sight, so I guess I can make it a few more years.

 

[Todd King]

No doubt there are some things I should be doing and some that I shouldn’t. Some folks write dental, I don’t and won’t, some folks write LTC, I don’t and won’t, the list goes on. If I run across any of that, I’ll be glad to pass it along to you guys.

In order to write dental or LTC, you have to either market for it or ask about it for cross-selling purposes.

However, if you are prospecting for FE and you run across someone that NEEDS a GI policy and wants it...why in the world would you walk away? Makes 0 sense.

 

[Life Hawk]

Well, I’ve survived for 30 years with no end in sight, so I guess I can make it a few more years.

A few more years?? When they close my lid, I want a pen in one hand and an application in the other...... still trying to figure out which company.

 

[jerryrut]

Well, I’m not a big hitter like you guys so I don’t run into a lot of that biz anyway. When I was in Mississippi I usually had better options than GI, I haven’t walked away from very much money from not offering it, if any.

 

[jerryrut]

I get asked about dental all the time but I don’t feel that it’s a good use of scarce insurance dollars, for them or me.

 

[Life Hawk]

Well, I’m not a big hitter like you guys so I don’t run into a lot of that biz anyway. When I was in Mississippi I usually had better options than GI, I haven’t walked away from very much money from not offering it, if any.

I find that the more people I sit down in front of today... the less healthier they are. This young crop of kids coming up in the years, are going to be harder and harder to place. If its not a weight issue, its a driving record or criminal background... not to mention early use of meds.

 

[Newby]

No agent has ever lost a penny on GI case charging back. I write every single case that I get the opportunity to write. Just stick the money in your reserve account if you think they won't make it for a year.

 

[shonceman]

I really don't understand you guys who won't write a GI policy on someone. Even if they die within the first 2 years and you get a full chargeback, you're still not out anything but a few minutes of your time.

There is no way to lose, but you all talk like you are losing something. You can only lose by NOT writing....just as in the example above where all the polices lapsed or cancelled all because he wouldn't write grandma.

It just doesn't make good business sense.

In general, we do not get paid to say no.

As long as it is ethical, legal and moral, our job is to find a reason to write a policy, not to chase it off.

I agree with you, except in the case of home service clients, like the people I mentioned above. The nuances of working with that particular type of client really require that you turn away business at times. They often take on more than they can handle because of emotional pressure they’re feeling at the moment. Adding more coverage, whether on themselves or other family members can jeopardize the whole case. So sometimes it makes sense to talk them out of it. In this particular case, some of those nuances led me to not write grandma. That may or may not have been the right decision in this case.

 

[goillini52]

It’s just a matter of choice as is most everything in this biz.

Yes, it's a gamble to write a GI policy...but there's a gamble every time you write any type of policy. There're many ways to get surprized with a chargeback. Don't qualify, check bounces, buyer's remorse etc. I've lost "sure things", and I've had policies go through that surprized me. Like has been said, if they die in the 1st 2 years, you're only out your time...if not you made a commission.

 

[goillini52]

No doubt there are some things I should be doing and some that I shouldn’t. Some folks write dental, I don’t and won’t, some folks write LTC, I don’t and won’t, the list goes on. If I run across any of that, I’ll be glad to pass it along to you guys.

What kind of insurance do/will you write?