Helping a Prospect with a company I don’t Offer

[WGO]

I am a part-time agent and I don't do any GI business. I guess I followed the advice of JD from many years ago when he said in that situation he would give the client the phone number for MOO. I am not interested in adding a GI carrier as I will be exiting the business in the next year or so.

My question is ethically and legally how much help can you actually give a person you meet with a company you don't carry. Can you do more than give them a phone number. If they asked you to help them with the call or to help with an online application is something that would be ok or not? I run into a lot of people that would struggle navigating a companies phone menu and may not anyone else to help them.

 

[Baseball7]

I dont agree with JD's old theory, The 2-7% of the business that has to be GI, sell it with whoever you like most for GI and make what you can make.

 

[Todd King]

I dont agree with JD's old theory, The 2-7% of the business that has to be GI, sell it with whoever you like most for GI and make what you can make.

I never agreed with it either. I mean, you're there, they need it....it's not like it's going to cost you anything. Sure, it may lapse, but once again....did you lose money? NO!

 

[WinoBlues]

I never agreed with it either. I mean, you're there, they need it....it's not like it's going to cost you anything. Sure, it may lapse, but once again....did you lose money? NO!

agreed.

My GI is very sticky.
I can not remember the last GI client that died in two years. Seems like there was one but there were more than enough as earns to cover the debt in a month or two.
Isn't the goal in each house to write everyone in the house and as many of their friends and family?
If I write it, it keeps another agent like me out of the house.
'Wow Betty Sue, that insurance salesman was fine with covering Bubba but did not want to take a chance on you?' Don't worry, if something happens to you I will be here to help with the paperwork on this new policy and keep track until Bubba and Lil Bubba get the check. I will also help him with that other company as they will just give you an 800 number that may or may not be answered BY American! ' Let's get a look at that policy that guy wrote on Bubba. Just to make sure about the guarantees and there are no mistakes.

 

[Thedude]

JD has been wrong on a lot of things.

 

[monstrhuntr]

JD has been wrong on a lot of things.

Oh My!!!

 

[HoosierLife]

Understanding our prospects tendency to procrastinate leads me to believe it is in their best interest to sell them a policy no matter what.

Who cares if it's a few bucks more than some mail order company?

Even if you give them the number, what are the chances of them actually calling and getting it set up.

I believe you are doing your prospects a disservice by not selling them something, even if it is more expensive.

 

[Newby]

I am a part-time agent and I don't do any GI business. I guess I followed the advice of JD from many years ago when he said in that situation he would give the client the phone number for MOO. I am not interested in adding a GI carrier as I will be exiting the business in the next year or so.

My question is ethically and legally how much help can you actually give a person you meet with a company you don't carry. Can you do more than give them a phone number. If they asked you to help them with the call or to help with an online application is something that would be ok or not? I run into a lot of people that would struggle navigating a companies phone menu and may not anyone else to help them.

Unless you have JD's balance in your checkbook you should NEVER follow that bit of advice. JD has a lot of great advice that is on target but also has some cringe-worthy ideas. Just like all of us. That has always been one of them.

 

[DayTimer]

Y'all can disagree with what JD does, but let's be clear on why he does it. JD, as far back as I can tell reading his posts here at the forum has always had his clearly stated goal to get his clients the best price he can get them for their insurance. He also believes in giving them the best service they can get - why do you think he delivers every policy even though he is not required by his state to do so? JD knows that MOO GI is the best deal around. If you could sell it, I am sure he would. But since MOO cuts out the brokers on that product, he simply does exactly what he always does: Offers his clients the best deal they can get, even though it means he won't get paid on it.

So you may not agree with what he does, but that's because you yourself don't believe what JD believes.

Unless you have JD's balance in your checkbook you should NEVER follow that bit of advice.

You seem to discount if not completely occlude the fact that a key element of JD's success is that he clearly believes in doing what is best not for JD, but for the client, and that it is this belief that has made JD one of the most successful individual producers of FE ever.

 

[Newby]

Y'all can disagree with what JD does, but let's be clear on why he does it. JD, as far back as I can tell reading his posts here at the forum has always had his clearly stated goal to get his clients the best price he can get them for their insurance. He also believes in giving them the best service they can get - why do you think he delivers every policy even though he is not required by his state to do so? JD knows that MOO GI is the best deal around. If you could sell it, I am sure he would. But since MOO cuts out the brokers on that product, he simply does exactly what he always does: Offers his clients the best deal they can get, even though it means he won't get paid on it.

So you may not agree with what he does, but that's because you yourself don't believe what JD believes.



You seem to discount if not completely occlude the fact that a key element of JD's success is that he clearly believes in doing what is best not for JD, but for the client, and that it is this belief that has made JD one of the most successful individual producers of FE ever.

I understand JD's argument for not selling GI. Most agents can not take that stand and stay in business though. And it has never made sense to me anyway. Why is GI different than underwritten? Any of the WL carriers like Lafayette, Guardian, Ohio National, etc would take a LOT of the FE business at lower rates plus pay dividends. But they are MUCH harder to work with. Maybe USAA would be cheaper on a lot of cases? Should we send all the preferred business to them? Maybe Knights of Columbas is lower sometimes? Should we send those cases to them?

Most of our agents that write much FE business have enough monthly deposits from Gerber each month to more than make their car payment. So walking away costs you a free car. Is there enough difference in premium to MOO for that?