large scale replacements of your own clients-

[VolAgent]

"I sold you the best product I had... at the time. I've grown in my knowledge and I left that job do I can do the best job I can."

However, that only works if you were captive before. If you were independent and operating under your own name... that's a harder conversation to have.

Only in your mind.

This conversation works and doesn't work regardless of whether you were captive or independent the first go around. Some will trust you regardless and do it, and otherwise will lose faith in you, regardless of whether you were captive or independent before.

The ones that lose faith in you will inevitably be the more vocal ones in the community.

I'm with Larry, find new clients and keep in touch with your old ones. Life will change for the older clients and they will have new needs, which you can profitably solve.

 

[fed up]

Does the old carrier offer fully underwritten? Will it also save the clients money? I have written guaranteed coverage and then submitted for fully underwritten with the same carrier. Leave the guaranteed issue in place until the fully underwritten is issued. the problem there is the contestability starts over again but the carrier did not have an issue with a better product for the client. I would be careful about rewriting with a different carrier

 

[SpruceBruce]

OR at a minimum, wait 2 years from the termination of your contract before doing a lot of it. That's a standard time frame for most non-solicit agreements AND (of course) as long as the new policy improves their situation.

Of course, there's no reason to wait to sell ADDITIONAL coverage without replacement.

Neither of these contracts do not have a non-solicit clause.

 

[SpruceBruce]

Neither of these contracts do not have a non-solicit clause.

Correction of my poorly stated grammar---

Neither of the contracts have a non-solicitation clause.

 

[VolAgent]

Correction of my poorly stated grammar---

Neither of the contracts have a non-solicitation clause.

So, let's assume this is true. Let's further assume you get no other push back from the carriers. And let's assume you successfully roll your entire book, or at least as much as you can.

What are you going to do next year?

 

[walthamny]

So, let's assume this is true. Let's further assume you get no other push back from the carriers. And let's assume you successfully roll your entire book, or at least as much as you can.

What are you going to do next year?

Find a new carrier and move them over there probably.( just Kidding) This is why many agents fail. If you dont have name flow/prospecting, there is no way to survive in this business in the long run. It is a call people see people business. It is not a call the same people all the time business.

 

[rousemark]

Find a new carrier and move them over there probably.( just Kidding) This is why many agents fail.

Back in the days when Medicare Supplements were paying 60%-70% first year commissions and 15% renewals, that is exactly the way many Med Supp agents operated.. They would roll their clients every year until they died.. Then, they would have to find a new client..

 

[VolAgent]

Back in the days when Medicare Supplements were paying 60%-70% first year commissions and 15% renewals, that is exactly the way many Med Supp agents operated.. They would roll their clients every year until they died.. Then, they would have to find a new client..

Agents are their own worst enemies.

While heaped commissions more accurately reflect the work with a life policy, it encourages behavior just like this.