Just left NASB (warning to other future naive noobs)

[Dumbledood]

Others can add more than I can but if you're on vector, it is hard to contract with any company or IMO that uses that service.

So I should probably contact the carriers themselves?

 

[Tahoe Ray]

So I should probably contact the carriers themselves?

I would.

 

[DayTimer]

Or is there some time frame?

So I should probably contact the carriers themselves?

When I left one IMO to go to the my current IMO I make sure that my entire lead order was stopped, I paid for all my outstanding lead inventory, and I let them keep a credit card on file to charge me for any leads that came in after I left. Not many but there were a few, and they did make sure that I got those leads. As far as chargebacks, I had a couple and I just cut a check to the carriers to pay them off. It's your debt buddy and you're not gonna find an agent on this forum and we can do and you stick in your debt to anyone else.

 

[noah]

I wrote a guy a Settlers 7k bronze in 2015. He was good on it until last fall. I tried to reach out,I couldn't reach him on the number listed on his policy. A few days ago,his grace period expired and Settlers converted the policy to extended term on the non forfeiture option.
The 7k will expire 07/2026.

Just so happens he sent in a card this week,so I drove out to see him. He had recently added some more coverage.

This guy has heart meds,nitro,COPD,he's 72 and a smoker. Just yesterday he went to the ER for his heart to have some tests. He's a veteran. Just a guy living by himself with a smalll dog. Doesn't want to leave his daughter in a mess.

As it turns out,an NASB agent told him she was combining the existing coverage on 10/20/2020 along with a new policy with day one coverage. He sent the card in because he was looking for more coverage.

When I asked to see the new policy,it's an AIG GI 10k policy issued 11/04/2020 in a NASB folder with the agent's card.


Like that ?

 

[BibH]

Write him GTL and replace it all. I replaced a scum lieing Senior life agent this week that sold a woman with copd , oxygen, smoked and seizures a GI policy and told her it was day 1 coverage and it was 1/2 the face he said . Sold over phone . She called her bank to stop the draft before I left the house as she was so pissed

 

[DayTimer]

As it turns out,an NASB agent told him she was combining the existing coverage on 10/20/2020 along with a new policy with day one coverage. He sent the card in because he was looking for more coverage.

This is the stuff that pisses me off. So this POS agent comes in and steals this guy's guaranteed $7K for what? For her measly 80% AIG commission and if she is NASB her commish was probably 30%.

I wish every state would do like Kentucky with replacements. These people deserve better.

 

[theinsuranceman]

Write him GTL and replace it all. I replaced a scum lieing Senior life agent this week that sold a woman with copd , oxygen, smoked and seizures a GI policy and told her it was day 1 coverage and it was 1/2 the face he said . Sold over phone . She called her bank to stop the draft before I left the house as she was so pissed

I find that hard to believe. After all, the agent does a recording with the proposed insured and the G'Is waiting period is addressed quite thoroughly on the recording (lawyer protection) , and the face amount is reviewed.....all on the recording. The underwriters listen to the recording before the policy is issued. Either the insured lied to you or you're lying up here. There's is no other explanation.

 

[Baseball7]

If you guys have any legitimate problems with folks at Nasb I have a pretty good working relationship with the people there feel free to reach out and let me know.

 

[Dumbledood]

I wrote a guy a Settlers 7k bronze in 2015. He was good on it until last fall. I tried to reach out,I couldn't reach him on the number listed on his policy. A few days ago,his grace period expired and Settlers converted the policy to extended term on the non forfeiture option.
The 7k will expire 07/2026.

Just so happens he sent in a card this week,so I drove out to see him. He had recently added some more coverage.

This guy has heart meds,nitro,COPD,he's 72 and a smoker. Just yesterday he went to the ER for his heart to have some tests. He's a veteran. Just a guy living by himself with a smalll dog. Doesn't want to leave his daughter in a mess.

As it turns out,an NASB agent told him she was combining the existing coverage on 10/20/2020 along with a new policy with day one coverage. He sent the card in because he was looking for more coverage.

When I asked to see the new policy,it's an AIG GI 10k policy issued 11/04/2020 in a NASB folder with the agent's card.


Like that ?

Absolutely, alot of stuff like that goes on, it's not unheard of and in fact is common. I think it's because instead of focusing on producing high quality insurance salesmen who are educated on all things insurance, they are focused on hiring, and pushing for the execution of getting a sale no matter what. Quantity goes up, quality goes down.

 

[rousemark]

Wasn't aware of that, I mean, could I just write it off (meaning on my own pen of course) once the current contracts end and I re contract with the new IMO? Or is there some time frame?

The new contracts will be totally separate from the old. Plus, if you have a debit balance under the old, the company may not give you a new contract until the balance is taken care of.