Ran into a guy today . He had bad Parkinson's . He had Gi over 2 years old . I could have replaced with cheaper policy day 1 benefit . I didn't and walked. I only replace if beneficial . If their health iffy i won't replace.
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Ran into a guy today . He had bad Parkinson's . He had Gi over 2 years old . I could have replaced with cheaper policy day 1 benefit . I didn't and walked. I only replace if beneficial . If their health iffy i won't replace.
- 4,122
How would that not have been beneficial?
New contestability period in most States.
Most health care facilities hooked up with my chart . I have a my chart . Dr's write every single thing you say in there . I was shocked . " When a person is older and has a incontestable policy I just feel more comfortable walking than saving them a few bucks . We've all had denied claims . It's not a good feeling . Just a personal preference to avoid situations that are more iffy .
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30, 60, maybe 90 wait to get a contestable claim paid. If paid.
From a guaranteed pay out to a maybe payout.
There is not new contestability clause. Replacements require credit for time already met under the policy being replaced. If policy being replaced already on the books for two years, there is no contestability clause under the new policy (for insured amounts up to the amount of the policy being replaced). The only restriction on the newly issued policy is that a new suicide exclusion period would be established.
Example 1: If replacing a 2+ year old $10,000 face policy with another $10,000 face policy, no new contestability clause.
Example 2: If replacing a 2+ year old $10,000 face policy with a $25,000 face policy, only the additional $15,000 is contestable.
Example 3: If replacing a 15-month old $10,000 face policy with a $10,000 face policy, then 9 months to go on contestability.
Are you new in the insurance business ? If your not new what you wrote is embarrassing. 2 yr contestability starts over on a new policy when you replace.
I replace very few policies especially those over 2 years old if the person's health could be questioned. Most carriers look for ways to deny contestable claims so they don't need any help.
me112233 you don't know what you are talking about. I hope that you are not telling the owners of the policies you replace this false info.
me112233 you don't know what you are talking about. I hope that you are not telling the owners of the policies you replace this false info.
Maybe they live in KY, where that example would make some sense.
EDIT: It's been pointed out to me that KS and WV also have these laws. They still shouldn't be making blanket statements like that about replacements since states are different but we don't know what we don't know.
EDIT: It's been pointed out to me that KS and WV also have these laws. They still shouldn't be making blanket statements like that about replacements since states are different but we don't know what we don't know.
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Persisistency really isn't about method.. it's about the agent.
People that have never done telesales swear that persistency has to fall off. If persistency was a major issue, Jeff's agency would lose contracts...
Just my opinion, don't crap all over a method you don't do because you don't know what you're talking about.
Granted, I'm in Medicare, but I work locally and do only telesales appointments. I have minimal issues with people wanting an in person agent and haven't lost a client since 2019.
If you F2F players had such an advantage over telesales, I'd have at least one loss.
People that have never done telesales swear that persistency has to fall off. If persistency was a major issue, Jeff's agency would lose contracts...
Just my opinion, don't crap all over a method you don't do because you don't know what you're talking about.
Granted, I'm in Medicare, but I work locally and do only telesales appointments. I have minimal issues with people wanting an in person agent and haven't lost a client since 2019.
If you F2F players had such an advantage over telesales, I'd have at least one loss.
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