Replaced Foresters Today

[billyg]

I'm just confused why you would sell LH if she was healthy enough to have Foresters? I get lowering the face if she was ok with it, but why LH?

Because that's what he sells. He thinks it is ethical to lower her coverage by over 50% and then claim to have saved her money on premiums when almost any carrier out there, including the one she was with, would be less expensive for the same coverage level. But when you only sell one company, that's what you have to do to make a living.

What was so telling to me was his comment "Gee I'm Good". Seems to me he's gone pretty far down the rabbit hole if he's proud of what he did.

 

[TwiLight]

FD's, if they were in High School they would be expelled for bullying.

I thought there were rules in this business not to do harm to your clients.

Selling an inferior priced product at a lower face just to make a sale is not justice to your client. Having a client go to their current carrier, in this case "Foresters" would have served him/her justice to reduce their face amount to fit the new burial plan.

Also, to plan a Face amount on a 10 year life expectancy is setting yourself up for an E&O claim if she lives longer and you induced replacement at a lesser face amount so you could sell a Funeral product and get an insurance commission. REALLY...

Oh the lawyers will be happy that you are in the business.

 

[Newby]

I have have only had 2 of mine replaced that I know about and newby did one of them.
.

In my defense, that was a good friend's mother who called me and asked me to be her agent. AND it was before you bought me a steak dinner.

Won't happen again.

 

[TwiLight]

What was so telling to me was his comment "Gee I'm Good". Seems to me he's gone pretty far down the rabbit hole if he's proud of what he did.

Great Observation..... could not agree more.

 

[0b1kanobee]

In my defense, that was a good friend's mother who called me and asked me to be her agent. AND it was before you bought me a steak dinner.

Probably some of the best money he ever spent.

 

[rousemark]

In my defense, that was a good friend's mother who called me and asked me to be her agent. AND it was before you bought me a steak dinner.

Won't happen again.

Gee, you can be bought so cheap.... probably at Western Sizzlin' .

 

[GreenSky]

In my defense, that was a good friend's mother who called me and asked me to be her agent. AND it was before you bought me a steak dinner.

Won't happen again.

Too late for an apology. I've received at least 75 PMs along with countless emails saying that you're a bastard for stealing JD's client.

You probably reduced the benefit by 60% and placed the new policy with LH.

Rick

 

[rousemark]

I have been reading this thread with a feeling of disappointment. If FD is who I think he is, I thought he was an FE producer to be admired. But now, he comes across to me as just another policy peddling huckster interested in his own pocket.

I have no problem with his choosing to sell only LH until it comes to replacing a superior product with it. If the lady was truly having a problem with paying the 10K Forester, he could have assisted her in reducing the face amount on the existing policy to 5K. he would "saved" her even more money than he "saved" her by replacing it with LH, but then it would not have put any money in his pocket.

I have had many times when I could have replaced in force coverage but, for one reason or another, I have advised the people to keep what they have and even assisted them with service work on their existing policy. Normally, I would make money through additional business in the home later on or through referrals but even if I didn't make a dime, I slept well knowing I had done the very best job for the client I could do..

 

[Rearden]

Y'all are sounding like a bunch of pinko Communists.

The client can make up her own damn mind whether or not she wants the LH product or the Foresters product.

Mr. Benedict sold her more of what *she* wanted as opposed to the Foresters rep.

Granted, I would have chose an overall better product, but who is anyone to define what is "superior" except what the client feels she needs?

Our product we sell is intangible -- price is only one component of what makes up the entire value proposition. It's up to the *client* to determine what is most important. Not us.


-Dave

 

[0b1kanobee]

I have no problem with his choosing to sell only LH until it comes to replacing a superior product with it. If the lady was truly having a problem with paying the 10K Forester, he could have assisted her in reducing the face amount on the existing policy to 5K. he would "saved" her even more money than he "saved" her by replacing it with LH, but then it would not have put any money in his pocket.

I have no dog in this fight so to speak but you mine as well include 90% of agents in there instead of just picking on this guy.

As far as final expense being all about the least price, I don't buy it. If that was the case then you could always replace with a cheaper premium and same with med-sups. There are a lot of people out there resistant to change, especially seniors.

To have the belief that Funeraldirector (FD) can do this day in and day out means one is only kidding oneself. He just happened to be in the right place at the right time with the right person IMHO.

I've heard from PROs all the way to FMOs on how to replace policies. It's just the way this business works. This guy just happens to use LH. If that is what he wants to sell then he has a right to do so. After all, LH has been good to some people.

If there was a company out there who's premiums were half what the average is now for FE but the commissions were also half, would we all be obligated to sell it?