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I've run into a bunch of their stuff lately - same agent on all. Unlike most of his colleagues from the same operation, he doesn't appear to be clean sheeting but his Pioneer stuff is grossly over priced.
Senior Life Services Vero Beach Fla
- Thread starter noah
- Start date
I don't know what grade you got on your insurance exam, but you missed that question.
If they have already cancelled the policy by the time you sell them the new one it's not a replacement. If they actually don't have anything in force, how is it a replacement?
- 19,669
If it can be reinstated it's technically a replacement. In the real world that's probably a distinction without a difference but the DOI does not live in the real world.
Okay, I'll buy that one. I Concede.
- 5,309
Long story short, I ran into two of these agents within the last week.
One dropped in while I was presenting to a prospect.
Ultimately, I let her pitch first, and two-plus hours later, I had to "alley-oop" and close the deal for her with Great Western. Yes, I let her have the deal (I'm a nice guy after all).
P.S.: Here's a video I did reviewing Senior Life Services on YouTube.
One dropped in while I was presenting to a prospect.
Ultimately, I let her pitch first, and two-plus hours later, I had to "alley-oop" and close the deal for her with Great Western. Yes, I let her have the deal (I'm a nice guy after all).
P.S.: Here's a video I did reviewing Senior Life Services on YouTube.
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- Thread starter
- #16
- 1,834
Just helped a client cancel a Trans term policy in the 30 day free look,get her money back and sold her LP 121 Immediate Solution that was submitted to Trans while she was in the cancellation process,waiting on her refund.
Trans told me that no replacement form was required prior to submission of the the app due to cancellation within the 30 day free look.
Policy issued.
Do other carriers have different rules ?
- 5,309
PS: Looks like they shot that video with a potato.
Dude! Trans has different rules than ALL the other carriers out there! You should know that by now!
Furthermore, if it was still in the "cancellation process", it's definately a replacement. I thought you meant it had already been cancelled and done with by the time you wrote the new one. My misunderstanding.
- 19,669
Trans definitely makes, and changes, the rules with regularity. But they do not make the laws. They misinformed you. But they will probable change it before issue and tell you need a replacement form.
And I'm shocked they told you that anyway since it was a Trans policy being replaced. They have their form about that. You may be about to learn about that form?
- Thread starter
- #20
- 1,834
Dude! Trans has different rules than ALL the other carriers out there! You should know that by now!
Furthermore, if it was still in the "cancellation process", it's definately a replacement. I thought you meant it had already been cancelled and done with by the time you wrote the new one. My misunderstanding.
Policy was cancelled via 3 way call 2/16. Cancellation process has begun.
New app submitted 3/3 several days after I asked customer service if the replacement form was required an told "no".
Internal replacement was also discussed
I let Trans "lead the way" on this case..
Approved as applied 3/4.
Client receives refund,1st premium.
I replaced the same term for WL at the very same time for the next door neighbor and since she had paid 5 premiums,completed the replacement form for that case as required.
I always get the replacement form signed when writing other cases,especially replacing other carriers,even if the client had something that had lapsed within 90 days of my app.
This was a one time "no replacement form required per Trans customer service".
They also took a few extra days to review the case before they placed/inforce.
So let's just say their rules on this particular case.
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