NAA

Feb 28, 2007

  1. Golddoor
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    Golddoor Guru

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    As you all know Im a former NAA Agent And I have copies of all the F&G apps from those days. I was thinking about calling all these people that I unknowingly scammed into buying a non med mortgage life policy and telling them that there are better options for them, that will save them a lot of money. I am appointed through AIG and Genworth and could get them a lot better deal. Only thing is most of these got the return of premium. It has only been a year to a year and half. I was needing ideas on what exactly if any thing I could do in this situation?
     
    Golddoor, Feb 28, 2007
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  2. Crabcake Johnny
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    Crabcake Johnny Guru

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    You need to read the agreement you signed. If you don't own that business you can't contact them.
     
  3. Steve
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    Steve Super Genius

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    I also imagine there could be other problems for you... "Hi., I sold you some policies that weren't in your best interest..."
     
    Steve, Feb 28, 2007
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  4. Golddoor
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    Wow didnt know that. What could they do to me if I did?

    I dont see how I could have any problems? Its not like I knowingly scammed them or some thing. I actually thought I was helping these people.
     
    Golddoor, Feb 28, 2007
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  5. Crabcake Johnny
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    Crabcake Johnny Guru

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    If you contact those people in violation of your agreement you could be sued. If it's a very small block of business most likely you'd simply get a warning shot with a cease and desist letter from a NAA attorney. If you're talking about flipping a large block you might get a knock on your door with "you've been served."
     
  6. Golddoor
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    What if they call me? Thats how I got the idea. I got a call yesterday from one of my old clients.
     
    Golddoor, Feb 28, 2007
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  7. Steve
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    I'm far from being an expert in this area, so I guess I'd just be cautious.

    Taking a different direction, think of it from the customer's point of view when you say "I sold you a policy that isn't in your best interest. I'd like some of your time to sell you another policy now... You'll lose some money on the change, but really, this is a good deal this time! Trust me!"
     
    Steve, Feb 28, 2007
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  8. Crabcake Johnny
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    Crabcake Johnny Guru

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    So all of your clients are just gonna pick up the phone and call you? If your agreement reads that the business belongs to the NAA then you can't contact them by any means - phone, mail, etc...

    There was a lawsuit I read about (I'll try to find it online) where somone who worked for a captive agency and had a huge block of business decided to be clever and send out a mass mailing staying that he's no longer working for "abc agency" and is now with "def agency" - when clients called he flipped him. He got sued and lost.
     
  9. K-Dub
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    Client: Well if you didn't didn't do what's in my best interest back then what makes you think you will now?
     
    K-Dub, Feb 28, 2007
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  10. insuremojo
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    insuremojo Super Genius

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    Golddoor

    I think there's differing points of view on a topic like this.

    I've been told that if the client initiates contact then you're not bound.

    Clients needs change don't they? Be careful about replacing policies that
    have not been fully earned yet. Keep in mind that they still can serve you with a cease and desist notice.

    I certainly wouldn't approach a client with "that last policy was crap" like the other agents are insinuating...value is in the eye of the beholder.

    Just my 2 cents.