Replacing Policies

[kgmom219]

This is why I don't do UW policies. This is BS.

Client is on an old Cigna policy, Loyal American, and got an increase to $387 for April 1. She got my number from someone and asked if I could help. She's 78 and healthy. Put her on a "New" Cigna policy at $149.

However, Cigna just informed me that I am the AOR, but the old agent gets the commission.

Is this just how it is? All carriers or just Cigna?

 

[vic120]

#1 rule never replaces a policy with same company even if it's under a secondary name

I believe Mutual would do the same even when replacing a mutual plan with affiliates like a woodsman or a Gerber

 

[goillini52]

This is why I don't do UW policies. This is BS.

Client is on an old Cigna policy, Loyal American, and got an increase to $387 for April 1. She got my number from someone and asked if I could help. She's 78 and healthy. Put her on a "New" Cigna policy at $149.

However, Cigna just informed me that I am the AOR, but the old agent gets the commission.

Is this just how it is? All carriers or just Cigna?

I believe that all companies are that way. Like Vic said, never replace a company with a sister company(if you want to get paid).

 

[somarco]

Aetna does likewise.

As others have said, even with an AOR the original writing agent keeps his/her commission as long as they are licensed and appointed.

Don't cry. Most of us have done the same thing. I AOR'd half a dozen U65 Aetna health plans before I found out I worked for free.

We had a regional meeting shortly after that and I asked the Reg Mgr in public about this problem of not getting paid on AOR. He claimed not to know anything about it and neither did the other reps at the meeting.

My question raised a lot of stink. One person in the room had AOR's 30 or 40 so I didn't feel too bad.

But I never again wrote another U65 plan with them and have been VERY selective in placing Medicare business for the same reason.

Old guys never forget things like this.

But enough about me.

If you want to get paid you can knock off the writing agent.

Not saying you SHOULD. Just an observation.

 

[Midlevel]

KGmom,

Also never rewrite a client to a sister company because it does not reset the 6 year period for renewals. Example if someone had Family Life and you switch them to Manhattan Life, the 6 year period will end based on the effective date of her original Family Life policy. And now that they have added Western United they are in the same category as Mutual of Omaha and are dead to me.

 

[VolAgent]

If you need a referral, I highly recommend Vineyard's AOR restoration service. Their motto is, "We knock'em dead!"

 

[kgmom219]

Thanks everyone!

Today is a win. I learned something. Even if I don't make any damn money.

 

[Life Hawk]

Thanks everyone!

Today is a win. I learned something. Even if I don't make any damn money.

What is keeping you from moving it again? Can you find another fit. Sorry, I don't give up without a fight... if it is good business and makes sense.

 

[Bevo]

What is keeping you from moving it again? Can you find another fit. Sorry, I don't give up without a fight... if it is good business and makes sense.

It's future money in the bank, move em' in a year or two if it makes sense for the client (and it likely will) and you'll get paid then. You can take me to lunch with your earnings.

 

[Todd King]

It's future money in the bank, move em' in a year or two if it makes sense for the client (and it likely will) and you'll get paid then. You can take me to lunch with your earnings.

And sell them some life insurance in the interim.