Helping a Prospect with a company I don’t Offer

[DayTimer]

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?

Ok, I see what's in it for the agent but still you miss the point. JD doesn't do what he does with GI cases because of what's i it for him.

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.

I love me some Ohio National, for the record. But your point here misses the fact that simplified issue is what most of these clients want if they are looking for a small burial policy. And how many of those companies you listed are going to write a 5K-15K face?

 

[Life Hawk]

I can not remember the last GI client that died in two years.

I have had 3 in the last 2 years.

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.

In the past week, I helped a lady call 5star and get her policy number, by using her bank statement to find out who it was she already had insurance with (she couldn't remember). I am not (wasn't ever) a 5star guy. But she needed help so I did. Big $0 for me, but made a quick friend and helped someone's mom.

Your an agent... don't be afraid to act like one when it is reasonable to do so.

Someone's mom with thank you.

 

[Newby]

Ok, I see what's in it for the agent but still you miss the point. JD doesn't do what he does with GI cases because of what's i it for him.



I love me some Ohio National, for the record. But your point here misses the fact that simplified issue is what most of these clients want if they are looking for a small burial policy. And how many of those companies you listed are going to write a 5K-15K face?

Lafayette takes the $5,000 to $15,000 face on their underwritten WL.

My point is that you can NEVER be the absolute cheapest in every case. Why is GI different?

 

[goillini52]

JD knows that MOO GI is the best deal around.

But it's not. Most of the time, Sons of Norway will beat MOFO. Also, JD likes Fraternals, maybe Fex should pick them up.

 

[Life Hawk]

But it's not. Most of the time, Sons of Norway will beat MOFO. Also, JD likes Fraternals, maybe Fex should pick them up.

Yes, they should right now, because as slow as they are, they would only be able to offer them to the next generation of FE agents.

 

[goillini52]

Yes, they should right now, because as slow as they are, they would only be able to offer them to the next generation of FE agents.

 

[Newby]

Yes, they should right now, because as slow as they are, they would only be able to offer them to the next generation of FE agents.

Yes, we talked to them early on. But they didn't seem to have any grasp of what the FE business even is. They hadn't yet become aware that they were even priced unusually low. And they could not take on the production of even two good producing agents let alone a whole agency. It would tank them fast if any agency of any size picked them up.

I think they will readjust in the future and re-price themselves or something and likely won't be an attractive offering long term. We made the same decisions when we looked at Degree of Honor a few years ago and that decision seems to have been the right one.

Just because a company is fraternal and priced well doesn't mean they are clicking on all cylinders. Even KSKJ had serious growing pains during our 1st year with them. They had to buy another building and double their staff when we started working together. And they were miles ahead of most small fraternals when we 1st met.

 

[goillini52]

Yes, we talked to them early on. But they didn't seem to have any grasp of what the FE business even is. They hadn't yet become aware that they were even priced unusually low. And they could not take on the production of even two good producing agents let alone a whole agency. It would tank them fast if any agency of any size picked them up.

I think they will readjust in the future and re-price themselves or something and likely won't be an attractive offering long term. We made the same decisions when we looked at Degree of Honor a few years ago and that decision seems to have been the right one.

Just because a company is fraternal and priced well doesn't mean they are clicking on all cylinders. Even KSKJ had serious growing pains during our 1st year with them. They had to buy another building and double their staff when we started working together. And they were miles ahead of most small fraternals when we 1st met.

What if one of your agents wanted to pick up SoN's...would you let them?

 

[Newby]

What if one of your agents wanted to pick up SoN's...would you let them?

Scandleous! But several might have.

 

[Todd King]

What if one of your agents wanted to pick up SoN's...would you let them?

Yeah, if JD was so adamant about getting them the best pricing, he would have already picked them up. I never bought it that he didn't write GI because he wanted to give them the best deal. I've always seen it as he just doesn't want to write GI business period.