large scale replacements of your own clients-

Feb 23, 2019

  1. SpruceBruce
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    DHK-
    I think you are gun shy because you are afraid of the carriers. You should replace the Anico policies if you can. When you use their chronic or critical illness acceleration of death benefits provision, you effectively surrender the entire policy. That sucks!!. They don't need that as the only option. With some other carriers and you will find that you can get the same type of living benefits whereby the client can choose to accelerate a portion and not all of the discounted value of the death benefit. This means they can get access to funds if needed but they won't give up their entire policy. This is a major deal. You would be doing your clients a big favor by replacing those poor designed policies.
     
  2. DHK
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    DHK "YOU CAN'T HANDLE THE TRUTH!"

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    This is not about me.

    This is about what you're proposing to do with a chunk of your business that you sold in good faith. Obviously, you want to do what you want to do, so go ahead and do it.

    As for "being afraid of carriers"... the insurance industry is an industry that's (should be) built on TRUST and INTEGRITY. That includes, to me, being honest in all your business dealings, not just with your clients. I honor my commitments and the contracts I sign.

    It's too bad that you don't see yourself that way. At least I don't after going through this thread with you. You just want to see what you can "get away with".
     
    DHK, Feb 23, 2019
    #32
  3. SpruceBruce
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    No irony. I have a current business relationship with my clients. So I am entitled to the list.
    If I gave my client list to another I would be sharing the jointly owned client list of the carrier and myself the agent, to another outside party.
     
  4. SpruceBruce
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    One thing is for sure. I m definitely more about helping better my clients situation and their their beneficiaries than I am about the carriers. It's the public that needs our help, not the carriers. They are doing fine. Help better the lives of your clients. Give them the best you can. I think it's possible you have been brainwashed DHK. Who are you looking out for - Anico, AIG, Prudential? Come on man- Look out for your clients, get them the best, look for the best. If you can better their lives or their families lives, than you should do it or at least try... And by the way this includes replacing older inferior policies with new and better ones, but only if that's really the case. Anyways thank you much for your comments. Greatly appreciated! God Bless you...
     
  5. DHK
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    DHK "YOU CAN'T HANDLE THE TRUTH!"

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    You should've done it right the first time.

    Maybe you should learn how to PROSPECT for new business so you don't have to replace what you've previously sold to earn a new commission??
     
    DHK, Feb 23, 2019
    #35
  6. WinoBlues
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    Question - were these your first life insurance clients. Are you fairly new to life insurance? Just curious why you wrote these type of policies.
     
  7. rousemark
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    rousemark Still Here!

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    This is from SNL's contratc and is similar to the terms of most other company contracts..Remeber, te contrcts are written by teh companies.. They would be foolsih no to load them in thier favor..

    "12. Agent shall safeguard, protect, secure, and hold all Company materials of any type or form, including but not limited to policyholder files, cards, advertising material, promotional material, leaflets, booklets, and any and all other materials furnished by Company, in trust as property of the Company which is provided only for Agent's use during the term of Agent’s authority. Agent shall immediately return such materials to Company upon termination of Agent’s authority or upon request by Company. Agent further agrees to preserve the privacy and confidentiality of any and all policyholder files and information, in accordance with any and all applicable state or Federal law."
     
  8. LGilmore
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    Pretty clear my post to you went over your head. SMH

    NOBODY CARES that you're "right" in doing what you propose. That doesn't matter.

    It is this simple "DO YOU HAVE ENOUGH MONEY TO PAY FOR A DEFENSE?"

    If you do, why are you talking about churning old clients?

    Can you afford to support an attorney as well as your family?

    There are now about 5 pages of agents telling you not to attempt what you're going to do

    You keep arguing about being "right" SMH How bout trying to be "smart" instead?

    I don't work to support the local attorney, I consider that smart.

    Don't confuse intelligence with being afraid. What you're suggesting we've all known others who feel like you. They're gone from the business and they didn't leave with a whole bunch of money in hand.
     
    Last edited: Feb 24, 2019
  9. DHK
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    DHK "YOU CAN'T HANDLE THE TRUTH!"

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    I bet we could (indirectly) blame the whole Ohio National annuity compensation debacle for this mentality.

    After all, if the company can break their word... why can't I?

    Of course, only the attorneys will truly "benefit" from all this.
     
    DHK, Feb 24, 2019
    #39
  10. SpruceBruce
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    Not new, But I joined a national agency group that pushed only non-medical policies, The coverage is decent but the cost is about a table 4 with a FU policy. So if one is a standard risk or better, they can get a much better deal with a FU policy.
     
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