- 924
Got an email today saying Foresters will no longer allow (for anyone) VOSP sales as of 11/30.
Said it was because of higher than expected mortality.
Said it was because of higher than expected mortality.
Foresters is done with Voice Sig
- Thread starter suranceman
- Start date
- 15,041
I saw that as well, I can't say I'm surprised. If done properly, it was a very long process. So I'm sure there were quite a few shortcuts going on, which caused problems. It seems like there was not full disclosure (lies maybe?) in a number of cases as well. Probably people claiming they weren't given the disclosures, didn't know what all they were signing up for, etc.
- 1,912
All you guys looking to get into telesales, especially agencies, should take note of this. Foresters is one of the largest producers of final expense premium in the industry (with an independent distribution). They are getting out because they are not making money.
- 15,041
A lot of this was self-inflicted. Their process was not easy and put some additional restrictions on who could use it.
- Thread starter
- #5
- 924
The process being restrictive doesn't affect mortality.
- 4,874
This makes sense.
Offers belong in the offers section. But then again....according to you, you don't recruit here....so maybe, just maybe, this really isn't an actual offer.
- 15,041
Actually, it does. If it drives away more honest agents because of the difficulty, then all Foresters is left with are less honest agents. Agents who might coach their prospects to lie.
When you combine that with unseen business and the inherent mortality risks it brings, it is a recipe for bad business.
- 4,874
- 933
Foresters listed "high levels of non-disclosure" as the first reason...along with mortality. Interesting info on the non-disclosure part.
Instead of raising rates, they withdrew from telesales...which I respect. I don't like it, but I respect it.
Instead of raising rates, they withdrew from telesales...which I respect. I don't like it, but I respect it.
