My Client Died Before We Could Get her Covered

[Birdman300]

So I met with this couple who wanted to get a FE policy for her mom. The only problem is mom is traveling back east to visit family. So the daughter gives me all of moms info so I can take the app. I get it all filled it except for signatures then I scan and email it to them with instructions on what to do next. Then I wait...and wait and wait for a couple of weeks. I sent the email again with a little follow up note thinking that they were like most people and just forgot about it. Then last night I get a call from the daughter saying that mom passed away last week. It was going to be a $184/mo premium with RNA.

 

[Jerard]

So I met with this couple who wanted to get a FE policy for her mom. The only problem is mom is traveling back east to visit family. So the daughter gives me all of moms info so I can take the app. I get it all filled it except for signatures then I scan and email it to them with instructions on what to do next. Then I wait...and wait and wait for a couple of weeks. I sent the email again with a little follow up note thinking that they were like most people and just forgot about it. Then last night I get a call from the daughter saying that mom passed away last week. It was going to be a $184/mo premium with RNA.

Although I don't know RNA's specific rule is on signatures I would imagine they would require them to be face to face. Not having any on the app probably put it on the back burner, if at all. If it was me I'd be glad the policy never got issued. It's unlikely she passed away from something that came up suddenly so you'd now be looking at a large charge-back.

You also have to have the health questions answered by the proposed insured, not by one of her kids. It looks to me like you dodged a bullet here, consider yourself lucky.

 

[John Galt]

So I met with this couple who wanted to get a FE policy for her mom. The only problem is mom is traveling back east to visit family. So the daughter gives me all of moms info so I can take the app. I get it all filled it except for signatures then I scan and email it to them with instructions on what to do next. Then I wait...and wait and wait for a couple of weeks. I sent the email again with a little follow up note thinking that they were like most people and just forgot about it. Then last night I get a call from the daughter saying that mom passed away last week. It was going to be a $184/mo premium with RNA.

Well its like I always say, you can pay the premium or own the loss, they can now own the loss, should be a lesson well learned not to be a procrastinating moron.

 

[Jerard]

Well its like I always say, you can pay the premium or own the loss, they can now own the loss, should be a lesson well learned not to be a procrastinating moron.

Agree....I suspect she waited until something happened then tried to pull a fast one with the insurance company.

 

[PA Bill]

This will help you in the long run, imho. You didn't lose a fat commission because you never had one to begin with. What you gained out of this "non-sale" is a deeper belief in what you're selling and a powerful personal story to incorporate into your presentation. Tell this story to EVERY prospect. You'll make that two grand ($2500?) back in spades. And if a prospect asks why you are pushing for a decision TODAY, think of this family, then look your prospect squarely in the eye and tell them again. There are perfectly good reasons to do one call closes and avoid pitching one leggers. And if people have a problem with it, then let them have a problem with it.

Obviously, this was an odd situation in that you were selling through the kids. However, the story is powerful nonetheless. I think I'll use it myself. I suspect you are most upset about the commission (you never had) and that's ok. It's our job to take care of our families and the prospect's is to take care of theirs. They need the policy more than you need the commission. After all, you get another chance at the next house. Obviously, grandma never got another chance to buy life insurance.

 

[nfl72]

I would suspect they lied about her heath and it would never have been approved or paid anyway.

 

[John Galt]

This will help you in the long run, imho. You didn't lose a fat commission because you never had one to begin with. What you gained out of this "non-sale" is a deeper belief in what you're selling and a powerful personal story to incorporate into your presentation. Tell this story to EVERY prospect. You'll make that two grand ($2500?) back in spades. And if a prospect asks why you are pushing for a decision TODAY, think of this family, then look your prospect squarely in the eye and tell them again. There are perfectly good reasons to do one call closes and avoid pitching one leggers. And if people have a problem with it, then let them have a problem with it.

Obviously, this was an odd situation in that you were selling through the kids. However, the story is powerful nonetheless. I think I'll use it myself. I suspect you are most upset about the commission (you never had) and that's ok. It's our job to take care of our families and the prospect's is to take care of theirs. They need the policy more than you need the commission. After all, you get another chance at the next house. Obviously, grandma never got another chance to buy life insurance.

Preach it brother, you nailed it!!

 

[Birdman300]

This will help you in the long run, imho. You didn't lose a fat commission because you never had one to begin with. What you gained out of this "non-sale" is a deeper belief in what you're selling and a powerful personal story to incorporate into your presentation. Tell this story to EVERY prospect. You'll make that two grand ($2500?) back in spades. And if a prospect asks why you are pushing for a decision TODAY, think of this family, then look your prospect squarely in the eye and tell them again. There are perfectly good reasons to do one call closes and avoid pitching one leggers. And if people have a problem with it, then let them have a problem with it.

Obviously, this was an odd situation in that you were selling through the kids. However, the story is powerful nonetheless. I think I'll use it myself. I suspect you are most upset about the commission (you never had) and that's ok. It's our job to take care of our families and the prospect's is to take care of theirs. They need the policy more than you need the commission. After all, you get another chance at the next house. Obviously, grandma never got another chance to buy life insurance.

Yeah, when they told me she died I expressed my sorrow for the loss of their mother. After I hung up I admit I that I was pretty glad that it didn't get submitted. That could have ended badly for me. Lesson learned.

 

[summerof18]

Hmmm could i use this story as my own little "white lie" lol. Slight chance I would have this happen to me, so may have to borrow your story! Lol
Thank goodness no chargeback! And at same time you can't feel sorry for these idiots who put this on the back burner!!
I had a client pass away a month after effective date, told the beneficiary it will take awhile for her to get the benefit, if at all, and said See, this is why you don't procrastinate on buying insurance! Granddaughter bought a policy So go sell the daughter! Lol

Amber

 

[xrac]

I would suspect they lied about her heath and it would never have been approved or paid anyway.

This has my vote. Want to bet the mother was not traveling????????????