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All new agents should be writing business with POS carriers (or SNL) to prevent unexpected rate-ups, wasted time, and potentially a loss of business.
Do Any of You Folks Try to Do FE Without PHI ?
- Thread starter jboussea
- Start date
- 3,247
Well, now that that most of the guys that have posted prefer a POS interview, let me share with you my perspective.
Carriers with out a POS are going to be a little risky to use for a new agent. I suggest new agents either lead with SNL or a carrier that has a POS interview that approves at the end of the call. I suggest a POS carrier FIRST!
Why?
Well, SNL's underwriting is as easy as they come, but new agents will make dumb mistakes, as we all do, and sometimes things come up that the prospects forgets to mention. This is why I suggest newbs do the POS. This will prevent a lot of going back and forth to the prospects house and can increase your chances of starting strong.
With that being said, I ONLY use carriers that DO NOT have a POS. I have one luxury that most agents don't have. A wife that I can send to the prospect that will sell a POS carrier. If the sale absolutely needs a carrier with a POS, the sale still stays in the family!
Why?
Well, my system entails me taking around 15 appointments in a day. I am often rushing around late and don't need to deal with a POS interview. I also have gotten very good with the Field Underwriting and rarely need a carrier with the interview.
So yes, becoming a master at field underwriting is important, especially when using carriers that have no POS.
Here is a short video on how to do Final Expense Field Underwriting!
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- 4,120
"15 appointments in a day."
Ummmm......
Ummmm......
He does it, Dougs system isnt for everyone but he makes it look easy and he is streamlined with it. Kudos.
- 30,577
Good video Doug. Just curious...how many companies do you know of that send a copy of the replacement form to the agent being replaced?
- 3,247
Thank you
None
When I was with the Hartford, they would notify the agency if there was a replacement.
The point I wanted to make in the video was that I have never had a sale canceled due to a clean replacement, that I know of!
If Im not mistaken Foresters will send out a notice along with the form. I always call a carrier to check if there is a missed payment etc. i would love to be notified asap from any carrier on missed payments vs. replacement. Instead of the normal notification weeks after the missed payment. Dont need the carrier to tell me about replacements, I like to do my own homework, but I can see how it would help.
- 4,120
Most carriers don't know til a week after a NSF. Foresters "certificate cancellation" emails are sent in real time. I got one, went to the clients house and found the bankers agent still there.
- 30,577
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