- 5,305
This is really directed towards the new guys.
I started this business and found out quickly how much squalor and simple-minded (I use this term without malice) many of the people we FE agents see on a daily basis.
And like most FE agents will tell you, persistency can be an issue; some folks won't take the policy, drafts will bounce, people will stop paying, etc.
My experience was no different. But, about 4 or 5 months into selling FE, I decided NOT to call back on people who's drafts bounced, or who cancelled their policies.
Why? Because, I deduced, if they were "too stupid" to not keep their finances in order, then, well, they suck as a client, and aren't worth my effort.
How arrogant and wrong was I!
I spent most of December calling on call-backs, old leads, referrals, and people who's policies had lapsed at one point.
While some had purposely cancelled their policies, I discovered that many had not and were unaware of what happened!
Case in point, I had one lady who informed me she thought she was supposed to call the company directly to deal with any issues (gasp). And she was saddened, thinking the carrier wasn't going to accept her (turns out it was a banking error).
Thankfully for myself, I was able to get appointments with many of them for this upcoming week to resign and resolve their issues, and over the past week or two, and got them back as clients.
But truly, I wanted to share my arrogant mistake with you new guys because -- even more important than the money -- I left my clients -- people I'm supposed to take care of -- without valuable coverage.
What if they had died while their policies had lapsed? Sure, you can say (and I did) that it's their fault that they didn't manage their personal lives better. And you'd be right.
But, if you're determined to be better than a policy peddler (and I am now), I'm convicted you owe it to the people in your care better service and consideration than what I had been giving my clients.
Hope you new guys learn from my mistake. You'll be more profitable, persistent, and a better agent to your clients.
I started this business and found out quickly how much squalor and simple-minded (I use this term without malice) many of the people we FE agents see on a daily basis.
And like most FE agents will tell you, persistency can be an issue; some folks won't take the policy, drafts will bounce, people will stop paying, etc.
My experience was no different. But, about 4 or 5 months into selling FE, I decided NOT to call back on people who's drafts bounced, or who cancelled their policies.
Why? Because, I deduced, if they were "too stupid" to not keep their finances in order, then, well, they suck as a client, and aren't worth my effort.
How arrogant and wrong was I!
I spent most of December calling on call-backs, old leads, referrals, and people who's policies had lapsed at one point.
While some had purposely cancelled their policies, I discovered that many had not and were unaware of what happened!
Case in point, I had one lady who informed me she thought she was supposed to call the company directly to deal with any issues (gasp). And she was saddened, thinking the carrier wasn't going to accept her (turns out it was a banking error).
Thankfully for myself, I was able to get appointments with many of them for this upcoming week to resign and resolve their issues, and over the past week or two, and got them back as clients.
But truly, I wanted to share my arrogant mistake with you new guys because -- even more important than the money -- I left my clients -- people I'm supposed to take care of -- without valuable coverage.
What if they had died while their policies had lapsed? Sure, you can say (and I did) that it's their fault that they didn't manage their personal lives better. And you'd be right.
But, if you're determined to be better than a policy peddler (and I am now), I'm convicted you owe it to the people in your care better service and consideration than what I had been giving my clients.
Hope you new guys learn from my mistake. You'll be more profitable, persistent, and a better agent to your clients.
