Equitable Life- Agents Beware

[bluevoyager]

Does this sound "fishy" to you? I have been an agent with this company for around 9 months. Here is something that happened to me that flabbergasted me and needless to say made me very angry. On 7/27/13 I called the UW express Med Supp hotline to move 2 of my clients over to them due to a rate increase. It was a husband and wife. I started with the wife first and the UW told me she would have to get more info on her meds from her MD. Her app would be on hold for 30 days. OK fine. Then I called the husband 2 times to start the process. One time was inconvenient for him which was at 7 pm because he didnt get home from work until 6:45. So another attempt was made and we agreed that instead of at night, I could call him at his business in the afternoon. So we set a day and time. I called him today and he said somebody from equitable life had already called him and did his application over the phone and had also called his wife. Hmmm? He gave me the name and number of someone and I called that person. It was another agent. I confronted him. He said If the client called him and asked to rescind his app. He would do that. I called the company and spoke to PH services they did some research and said- Well we found out what happened, it was a competing agent and since thats the case, there is nothing we can do. The husband was approved but the wife was not. Questions: Why was the other agent still able to call the wife and go through the UW AGAIN when they had full knowledge and record that I had already tried to write her? Then call the husband and was able to get an issued policy? How did that agent get those 2 particular names? I was first told the company cant do anything. Until I asked the question - Can the client call in and rescind his policy? Yes he can. Oh, I see so there is something that can be done. I asked the person at equitable- since I have the signed dated replacement form from the clients. Does this make any difference? Of course not. Then the company tried to blame it on the clients. Well they should have known better. They shouldn't have signed up with another agent. I doubt very seriously the clients were at fault. They said they thought it was someone at my office that I had told to take care of it. Really? Anyway the clients have both agreed to have their apps rescinded. I will wait to see if that actually happens. This business unfortunately has a nasty side to it.

 

[rousemark]

Does this sound "fishy" to you? I have been an agent with this company for around 9 months. Here is something that happened to me that flabbergasted me and needless to say made me very angry. On 7/27/13 I called the UW express Med Supp hotline to move 2 of my clients over to them due to a rate increase. It was a husband and wife. I started with the wife first and the UW told me she would have to get more info on her meds from her MD. Her app would be on hold for 30 days. OK fine. Then I called the husband 2 times to start the process. One time was inconvenient for him which was at 7 pm because he didnt get home from work until 6:45. So another attempt was made and we agreed that instead of at night, I could call him at his business in the afternoon. So we set a day and time. I called him today and he said somebody from equitable life had already called him and did his application over the phone and had also called his wife. Hmmm? He gave me the name and number of someone and I called that person. It was another agent. I confronted him. He said If the client called him and asked to rescind his app. He would do that. I called the company and spoke to PH services they did some research and said- Well we found out what happened, it was a competing agent and since thats the case, there is nothing we can do. The husband was approved but the wife was not. Questions: Why was the other agent still able to call the wife and go through the UW AGAIN when they had full knowledge and record that I had already tried to write her? Then call the husband and was able to get an issued policy? How did that agent get those 2 particular names? I was first told the company cant do anything. Until I asked the question - Can the client call in and rescind his policy? Yes he can. Oh, I see so there is something that can be done. I asked the person at equitable- since I have the signed dated replacement form from the clients. Does this make any difference? Of course not. Then the company tried to blame it on the clients. Well they should have known better. They shouldn't have signed up with another agent. I doubt very seriously the clients were at fault. They said they thought it was someone at my office that I had told to take care of it. Really? Anyway the clients have both agreed to have their apps rescinded. I will wait to see if that actually happens. This business unfortunately has a nasty side to it.

If they rescind the policies and you rewrite within a specified period of time with Equitable, I would say the other agent will get the commission on the case.. At least that is the way most companies handle it. Do you not have another company you can put them with?

 

[Norwayguy]

Carriers rarely care who brings the business. First with a completed app wins........Interestingly back when I was with Bankers Life 13 years ago they had a rule that an agent had control of a house for 30 days once a presentation was made. I only found out because during training my trainer the USMs wife couldn't close another agent got the app and she wines...I couldn't believe she would even try.

 

[policy doctor]

I had a similar experience with AARP/UHC. I got a lead from the ICA div and after phone talk set up an interview with the client and wrote him med supp and pdp.

After a few weeks it was issued but I didn't get paid on med supp. Reason was he started an online then telephonic app and even though it wasn't complete with check.....the AOR was the CSR who took the app.

He never told me the complete story in the beginning either ...just said he found their web site confusing and frustrating and their phone rep inept.
Hah.

 

[openmindedone]

That could have happened with any company.

Too make a really long story really short; you almost wrote a policy, but another agent beat you too it.

 

[bluevoyager]

Yes I have another company to put them with. I may try to do that or I may not. This is surely the last time I will put a client with equitable

 

[jacobtn]

Yes I have another company to put them with. I may try to do that or I may not. This is surely the last time I will put a client with equitable

how were they able to get a telesales call from equitable in the meantime? very odd. almost makes you wonder how they get your clients info.

 

[AllGold]

It sounds like the call came from another agent rather than from Equitable. Maybe the agent was calling from a list? If so, it was bad timing for another agent to call about Equitable after you had already talked to them.

 

[senior-advisor-indiana]

It sounds like the call came from another agent rather than from Equitable. Maybe the agent was calling from a list? If so, it was bad timing for another agent to call about Equitable after you had already talked to them.

This is most likely what happened. I have seen it before. It's strange though that equitable would take 2 apps on the wife.

 

[rousemark]

Yes I have another company to put them with. I may try to do that or I may not. This is surely the last time I will put a client with equitable

You can have similar problems with any company. To throw out a company over one case is sort of like throwing out the baby with the wash water. I certainly would keep them on hand if there were situations where they were the best fit. Now, if it happened two or three more times, then that would be different.