Now I heard everything...

[springbokhouston]

@springbokhouston by the way, how's your CA business partner doing? Does he still need someone local to show him the ropes?

I'll be out in July and will bring it up again, he's not the most self motivated person you'll every meet . Thanks for asking bru.

 

[FinalExpenseDojo.com]

I'll be out in July and will bring it up again, he's not the most self motivated person you'll every meet . Thanks for asking bru.

Sure thing I'd be glad to help.

Let me know when you're out here! We'll have to get together.

 

[shonceman]

There's a huge difference between a good faith action that benefits the client i.e. Changing from Carrier A to a new, previously unknown Carrier B if it's in the best interest of the client. As opposed writing carrier A with the intention of rewriting the client with Carrier B at a later stage in order to generate a double commission.

The former is certainly not an illegal action. Churning is a premeditated act in my humble opinion. Even if a client can save money it's not always a prudent move to make.

Here's a scenario that's not premeditated, at least not as it applies to individual cases: Client has a draft returned NSF a couple months into the second year of the policy. Agent gets a notice in his email the very same day, but instead of calling the client to help them straighten it out, he purposefully waits until the policy lapses and they can't afford the back premiums. Then he calls to "help you get your insurance back", implying a reinstatement when in reality it's a brand new policy with a different carrier. Harder to prove, but still churning.

Executives know this is happening too, and often can spot patterns for particular agents. Unethical agents often think they're clever. But they forget that many of the execs started out as agents, have seen all the tricks, and are pretty clever themselves.

 

[HoosierLife]

Here's a scenario that's not premeditated, at least not as it applies to individual cases: Client has a draft returned NSF a couple months into the second year of the policy. Agent gets a notice in his email the very same day, but instead of calling the client to help them straighten it out, he purposefully waits until the policy lapses and they can't afford the back premiums. Then he calls to "help you get your insurance back", implying a reinstatement when in reality it's a brand new policy with a different carrier. Harder to prove, but still churning.

Executives know this is happening too, and often can spot patterns for particular agents. Unethical agents often think they're clever. But they forget that many of the execs started out as agents, have seen all the tricks, and are pretty clever themselves.

If there are a lot of Final Expense execs that started out as FE agents, I haven't seen it.

Carriers are, for the most part, clueless. Now they may be wisening up to something going wrong. But I'm gotta think independent quick thinking agents are going to run circles around the bean counters.

Especially when the left hand doesn't know what the right hand is doing.

Maybe I'm wrong and I've failed to give these guys enough credit.

 

[goillini52]

Here's a scenario that's not premeditated, at least not as it applies to individual cases: Client has a draft returned NSF a couple months into the second year of the policy. Agent gets a notice in his email the very same day, but instead of calling the client to help them straighten it out, he purposefully waits until the policy lapses and they can't afford the back premiums. Then he calls to "help you get your insurance back", implying a reinstatement when in reality it's a brand new policy with a different carrier. Harder to prove, but still churning.

Executives know this is happening too, and often can spot patterns for particular agents. Unethical agents often think they're clever. But they forget that many of the execs started out as agents, have seen all the tricks, and are pretty clever themselves.

I've seen someone say that they did this on the FE forum a couple of years ago.

 

[shonceman]

If there are a lot of Final Expense execs that started out as FE agents, I haven't seen it.

Carriers are, for the most part, clueless. Now they may be wisening up to something going wrong. But I'm gotta think independent quick thinking agents are going to run circles around the bean counters.

Especially when the left hand doesn't know what the right hand is doing.

Maybe I'm wrong and I've failed to give these guys enough credit.

Have you met very many? I'm not talking so much about actuarial type execs. I'm thinking more of those that oversee sales and marketing functions. Maybe not that many started as FE agents, but there are plenty that were life agents in similar markets before FE was ever a thing.

No question, though, there are plenty of clueless execs to go around.

 

[shonceman]

I've seen someone say that they did this on the FE forum a couple of years ago.

I'm amazed sometimes at what some people will admit to or even brag about!

 

[FinalExpenseDojo.com]

Here's a scenario that's not premeditated, at least not as it applies to individual cases: Client has a draft returned NSF a couple months into the second year of the policy. Agent gets a notice in his email the very same day, but instead of calling the client to help them straighten it out, he purposefully waits until the policy lapses and they can't afford the back premiums. Then he calls to "help you get your insurance back", implying a reinstatement when in reality it's a brand new policy with a different carrier. Harder to prove, but still churning.

Executives know this is happening too, and often can spot patterns for particular agents. Unethical agents often think they're clever. But they forget that many of the execs started out as agents, have seen all the tricks, and are pretty clever themselves.

I'm willing to bet there's more lazy agents out there that ignore those notices and never try to contact those clients again.

Either that or agents that failed out of the biz & could care less about a chargeback.

 

[rousemark]

Have you met very many? I'm not talking so much about actuarial type execs. I'm thinking more of those that oversee sales and marketing functions. Maybe not that many started as FE agents, but there are plenty that were life agents in similar markets before FE was ever a thing.

No question, though, there are plenty of clueless execs to go around.

I think every marketing V.P., Director, etc. I have ever spoken with has been a field agent at one time in their career.. Maybe not FE but some form of life or health.

 

[springbokhouston]

I wish they were as committed in rooting out the bad agents but I just don't see it. There are too many bad apples getting away with mass murder and nobody seems to do much more than cancel the occasional contract.