Something to Think About

[briko3]

Briko wonder what that's supposed to mean. I do sell a lot of ROP plans. Not always, but many. Have been for as long as ROPs have been around. Never had this happen before. Lolololol. Most people would want to keep them for many years and ALL know a ROP doesn't happen for a very long time.

If he can make the company believe that his identity was stolen and it was done fraudulently, the company could rescind the policy and return all the premiums he paid back to him. There are some agents out there that coach their prospect to do this in order to free up money for a new plan.

Not to say that was what happened, but what other reason would he have to "cancel" his policy in that way? Most people just call and have the draft stopped when they can't afford it anymore. They don't call the company and claim fraud. Sounds to me like he was looking to get ALL his money back.

 

[Lakshmi]

Wino-On all my F2F meetings now as I am filling in the app I ask for their ID and take a picture of it laying on the app. Will it ever help? Who knows but it will be difficult for them to say we did not meet. On mailed and emailed apps I have started to ask them to text picture a copy.



Great ideas! I'm all for covering both myself and the client...

PCB--I know, my thoughts exactly...has a billboard...roflmao.

Also, Briko, a few well established insurance agents and myself just had a convo this am about ROP plans. I would like to hear what you meant by your statement above.

One thing is for sure, the ROP riders are going up in premium and will continue to rise...there are only a few I still sell, but for the most part that's too long of a story to go into on a Monday...

 

[WinoBlues]

Wino-On all my F2F meetings now as I am filling in the app I ask for their ID and take a picture of it laying on the app. Will it ever help? Who knows but it will be difficult for them to say we did not meet. On mailed and emailed apps I have started to ask them to text picture a copy.



Great ideas! I'm all for covering both myself and the client...

PCB--I know, my thoughts exactly...has a billboard...roflmao.

Also, Briko, a few well established insurance agents and myself just had a convo this am about ROP plans. I would like to hear what you meant by your statement above.

One thing is for sure, the ROP riders are going up in premium and will continue to rise...there are only a few I still sell, but for the most part that's too long of a story to go into on a Monday...

I like ROP Term as well. As do my clients that own them. They are not cancelling those. Which is a reason they are going up.

I think you are misreading Brinko's post. He is guessing that some other agent gave him the idea to claim fraud. So that he could get a years worth of premium back. I do not believe he is accusing you of anything. I would guess the client got the idea from an agent as well.

 

[Glen Shelton]

At first he tried to play something like, "oh, I thought it was the lady who came to sign me up for ObamaCare..." She ripped me off... I was saying something like, "I just had a disturbing call from my home office...I find it hard to believe you don't remember me, do you realize saying I stole your identity could be a major problem for me, I thought we had a good working relationship, and that I was helping you out with a problem you asked me to help you with..." I told him I had the signed application with his signature on it...yada yada, that a supervisor from said company would be contacting him in the morning wanting more information from him, would he please be honest. I don't appreciate going the extra mile to help someone for them to turn around and try to slander my good reputation. yada yada. As it turned out, I don't even know if he tried to send in a written statement, since I was told by the supervisor of the company not to worry about it after I sent in the written application with his signatures. It was an "open and shut" case. But supposedly he was going to send one in....anyway, during our phone conversation he was apologetic and just said he wanted it cancelled, couldn't afford it, I told him thanks I can't afford to have my reputation questioned....I was furious with him...and glad he answered my phone because I was going to go over to his house if he didn't and that could've been more uncomfortable.. No, I won't be s%*$ on by a nasty client who I spent my good time trying to help. Wino---this was for a $55 ish a month minimal policy...unreal. I see his billboard regularly when I drive in his direction, and have to hold myself back from a few of my naughtiest fantasies on how to deal with him... Not my first go round with a problem client, but by far the one that may have aggravated me the most, mostly because I love to fly under the radar and not even be bothered with my MGA...crapholio wasted my good time. Dementia, someone asked...I thought about that but realize he is just a liar not buyer and a crapholio. ---------- I did not cancel that policy for him...he could do that all by his little self...

I know this situation is a little extreme (client saying he was defrauded and after 12 months, seems silly) but IF it comes down to your word vs the client and the client sends in a complaint, what can you really do? What happens if it happens a couple times?

 

[1963]

Hey Fortune, while that is an interesting scenario, Lakshmi did the best anyone could when that hard-copy app appeared. My question is, if he had initiated cancellation of a policy insuring another, and the insured died after request was submitted, but before he received resolution, what would his reaction be THEN?

----------

Lakshmi, you did just what I have been doing every since I opened my agency; I get a hardcopy of ALL apps for my records to keep on file due to the type of situation you just described. It's a shame you had to deal with such a jackass; while I am sure it's not the first dummy for you to deal with (and probably not the last), you handled this one the way a professional should! KUDOS!!! Keep up the good work!!!

 

[milliondollaragent]

LOL that is something to think about.

 

[samtheman]

Happy Monday!!!!!!!!

 

[scagnt83]

Document document document. Then document some more!! Also be selective about the clients you take on.


I had an orphan policy that I inherited, the lady wanted to increase coverage so we talked on the phone about 1035ing over to a GUL. Also, even if she didnt increase coverage, her UL needed to up premiums.

Long story short, she claimed that I never called her back or returned any of her calls. She called the regional office to complain. But I had left about 6 or 8 voicemails for her over the course of a few weeks. And she never called my cell or office.

Turns out she had dementia. Her son called me and smoothed things over. It really didnt matter though because I had written in the file I started for her the exact times and dates that I called. When I sent a copy of the file to my regional (and offered to pull phone records for further proof) they said not to worry about it, thats all I needed to cover myself.

Always document very thoroughly!!

 

[WinoBlues]

Document document document. Then document some more!! Also be selective about the clients you take on.


I had an orphan policy that I inherited, the lady wanted to increase coverage so we talked on the phone about 1035ing over to a GUL. Also, even if she didnt increase coverage, her UL needed to up premiums.

Long story short, she claimed that I never called her back or returned any of her calls. She called the regional office to complain. But I had left about 6 or 8 voicemails for her over the course of a few weeks. And she never called my cell or office.

Turns out she had dementia. Her son called me and smoothed things over. It really didnt matter though because I had written in the file I started for her the exact times and dates that I called. When I sent a copy of the file to my regional (and offered to pull phone records for further proof) they said not to worry about it, thats all I needed to cover myself.

Always document very thoroughly!!

I second that. I will walk someone today that I may have written back when I first started.

 

[FEsalesNC]

Anyone's thoughts on having a simple form typed up to have client print and sign showing they submitted an electronic application with agent on this date?? May be easier than carrying all different apps with us.

And I realize that having paper apps on hand only makes sense. Just seems to defeat purpose of e-apps if we need to burn through paper apps just as fast.

I sold a policy to a man about a year ago.

We met at his house, I did an e-app with him in his kitchen, on my laptop. I thought I had good rapport with him, as we talked a lot about some of the things going on in his life, especially about his wife dying and they didn't have life insurance and he didn't want to go without it and wanted to leave something for his daughter, yada yada...anyway, we had a very long conversation about protecting himself and daughter with LI--as well, as other topics...

As with at least 90% of my cases, I had him fill out a paper app as well. I do this every time it's feasible. In this case, I am so glad I did.

Anyway, fast-forward to almost a year later....

He called the company I put him through, and said I signed him up without his knowledge and I must be someone trying to "steal his identity"....

I know, and most of us know, if he signed the app, he signed the app...it's binding, but he was claiming he did not and somehow I, out of the clear blue sky, came up with his banking info, soc #, etc.

The company gave him my MGA's phone number and he called them and told them the same thing....which caused them to call me and question me. I felt my ethics were being questioned and this guy was trying to hurt my credibility and reputation. Even though I know he was screwed...I had a written app. The company also told him to send in a written complaint.

Immediately, I sent in the written application with wet signature.

Of course that's as far as it went...but I wonder just how far this client could've taken this. I often wonder about e-apps. I know, I know, IP addresses and everything....but damn. How crazy is that.

What pissed me off the most is then he wouldn't answer the phone to me when I called from my number...I did manage to get ahold of him by calling him from a different number. UGHHHHH.

I guess what I am saying is there can be some crazy mugs out there. I truly thought I had a beginning to a good working relationship with him. I was floored and didn't see that one coming.

The other thing I am saying, is I am going to make sure I always get a written app.

Even though I know I could have surely cleared my name...by having that written application, I saved myself a lot of time and pain in the rear. The company said it was an open and shut case simply bc of that. Nipped it in the rear before his written complaint went in....I still feel a pit in my stomach, as I drive by this guys house and business regularly...nothing like feeling like you have to defend yourself against someone you wholeheartedly tried to put in a BETTER situation.

Just thought I'd share this...I wonder if anyone else has had a similar situation.