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[TDFnCali]

I realize you were trying to help by giving her a ride to the bank, but I wouldn't do it again if I were you. I remember when Inside Edition investigated Bankers Life, and one of their agents did that. Actually they trained their agents to, but as it turns out, that's not a very good idea. Just a heads up because I "think" you're kind of new.?.

Ok, but why?? Ive heard of others doing favors for their clients.

 

[0b1kanobee]

What's that got to do with not having a little cash cushion?
If you tell them to do so, and they don't, you should be able to sleep at night.
Many years ago, a mentor told me that my earnings in this business would be commensurate with the market I worked. I believed him, and it's been true - so yes, just about all of my clients have an adequate rainy day fund. Don't deal with "hand to mouth" folks. Not much money in it.
Your analogy doesn't make sense. Health insurance is a protection product. A teacher's 403(b) annuity is an accumulation product.
Glad to hear you're working a little more "up market".
I'm living on the planet where I've made a very nice living - since 1991. How 'bout you?

Cash cushion? Hey bud not everybody is smart like you to have cash laying around the house but not everyone lives next to all the good strip clubs where having cash is handy.

 

[NCnatwidagent]

I might have missed something, but don't you have to fill out a replacement form when ever you take an app?
For every application that I do, I have to fill out a replacement form regardless of whether or not its being replaced.
This requires the replacing company to notify the original company that the policy is being replaced.
It also gives the agent time to react and contact the policy holder and save the business.
Works for me!

 

[jdeasy]

I might have missed something, but don't you have to fill out a replacement form when ever you take an app?
For every application that I do, I have to fill out a replacement form regardless of whether or not its being replaced.
This requires the replacing company to notify the original company that the policy is being replaced.
It also gives the agent time to react and contact the policy holder and save the business.
Works for me!

Agents are required to send in replacement form whenever a policy is being replaced. many agents do not send in replacement forms, but that's another story.

In this case he said she was going with AARP thru the mail. They do not have have to do replacement forms in those cases as there is no agent involved. Same for all those mailhouse offers, Colonial Penn, MoO, etc.

 

[TDFnCali]

I might have missed something, but don't you have to fill out a replacement form when ever you take an app?
For every application that I do, I have to fill out a replacement form regardless of whether or not its being replaced.
This requires the replacing company to notify the original company that the policy is being replaced.
It also gives the agent time to react and contact the policy holder and save the business.
Works for me!

There was nothing to replace....she had canceled her RNA policy & hadnt mailed in the AARP yet, she had it 1/2 filled out on her kitchen table. I dont think I ever have to worry about her again now!

 

[VolAgent]

Agents are required to send in replacement form whenever a policy is being replaced. many agents do not send in replacement forms, but that's another story.

In this case he said she was going with AARP thru the mail. They do not have have to do replacement forms in those cases as there is no agent involved. Same for all those mailhouse offers, Colonial Penn, MoO, etc.

Because insurance company employees are always more ethical and less biased than insurance agents..

 

[WinoBlues]

There was nothing to replace....she had canceled her RNA policy & hadnt mailed in the AARP yet, she had it 1/2 filled out on her kitchen table. I dont think I ever have to worry about her again now!

Nice save and the increase paid for your time.

Did you ask her if she knew anyone else that had AARP?

 

[NCnatwidagent]

Agents are required to send in replacement form whenever a policy is being replaced. many agents do not send in replacement forms, but that's another story.

In this case he said she was going with AARP thru the mail. They do not have have to do replacement forms in those cases as there is no agent involved. Same for all those mailhouse offers, Colonial Penn, MoO, etc.

Thanks for the clarification! Since I'm on the "captive" side of the fence, I only see things the way I'm used to doing.
Seems like there should be a standard for all life insurance sales.

Info like this helps me to know what to look for when I go independent.

 

[jdeasy]

There was nothing to replace....she had canceled her RNA policy & hadnt mailed in the AARP yet, she had it 1/2 filled out on her kitchen table. I dont think I ever have to worry about her again now!

Still technically a replacement since the RNA was in force. If an agent had done it they would have been required to send in a replacement form.