Question on Replacing a Policy that Will Be Rescinded

[sirherbie]

I ran into a lady. She has a Americo policy 4 months old. Her husband told me she had a stroke 9 months ago. I looked at the app and the agent clean sheeted it. He wrote her the Americo eagle premiere. Its $90 a month as shes a smoker. The Ultra Protector 2 costs $78(I'm assuming all smokers get the protector 2). My first question is why did he write her the Eagle premier as it was face to face? The second question is i'm going to replace it with Gerber which is 30% less. We're going to call Americo to tell them it was clean sheeted. My question is what dept does he talk to and tell them it was clean sheeted? Won't americo immediately rescind it and refund all his premiums? Whats the best way to handle this? Thanks

 

[GoPokes]

Was the policy delivered? I have run into a few situations where the policy could be rescinded and premiums returned, and I offered it to the customer. They have always said dont worry about getting money back, just help me get the best policy moving forward.

 

[Baseball7]

Eagle can be done face to face via ipad, etc.

 

[sirherbie]

Well he wants his premiums back. What dept does he talk to ? Won't they immediately rescind it and refund his premiums?

 

[indiana260]

Was the policy delivered? I have run into a few situations where the policy could be rescinded and premiums returned, and I offered it to the customer. They have always said dont worry about getting money back, just help me get the best policy moving forward.

They tell you don't worry about getting money back? That is very odd, would make me think they were in on it.

I got a guy about a grand back a few months ago. Guy replaced my Aetna with Trans. Wrote him as female.



As to how to go about it. I would have them write a statement explaining everything and send it in with a request to refund all money paid.

 

[WinoBlues]

Well he wants his premiums back. What dept does he talk to ? Won't they immediately rescind it and refund his premiums?

Customer service would be my guess. However, I'd probably call the head of underwriting to get him/her name in the loop. They will probably recind it then just to "cya".

 

[John Galt]

I ran into a lady. She has a Americo policy 4 months old. Her husband told me she had a stroke 9 months ago. I looked at the app and the agent clean sheeted it. He wrote her the Americo eagle premiere. Its $90 a month as shes a smoker. The Ultra Protector 2 costs $78(I'm assuming all smokers get the protector 2). My first question is why did he write her the Eagle premier as it was face to face? The second question is i'm going to replace it with Gerber which is 30% less. We're going to call Americo to tell them it was clean sheeted. My question is what dept does he talk to and tell them it was clean sheeted? Won't americo immediately rescind it and refund all his premiums? Whats the best way to handle this? Thanks

Americo has been running multiple promos and spiffs for eagle as well, free ipads, extra moola per app....and the commission is really high.

 

[Iwillpay]

I ran into a lady. She has a Americo policy 4 months old. Her husband told me she had a stroke 9 months ago. I looked at the app and the agent clean sheeted it. He wrote her the Americo eagle premiere. Its $90 a month as shes a smoker. The Ultra Protector 2 costs $78(I'm assuming all smokers get the protector 2). My first question is why did he write her the Eagle premier as it was face to face? The second question is i'm going to replace it with Gerber which is 30% less. We're going to call Americo to tell them it was clean sheeted. My question is what dept does he talk to and tell them it was clean sheeted? Won't americo immediately rescind it and refund all his premiums? Whats the best way to handle this? Thanks

I would never write smokers with Americo Eagle Plan, the rates are brutal.

 

[Baseball7]

Call me crazy but younger, healthy people looking for small FA's seems to price out pretty fair. But yes the product is more expenisve but 100% less headaches.

 

[sirherbie]

Before I put my foot in my mouth. A person that had a stroke 3 months before the policy was approved couldn't get the Americo eagle could they?