Why Would Assurity Agentin Florida Do This?

[yogooglethis]

I wrote a 20k Monumental preferred FE on NS 56 yr old female effective 8/1/11 with a 55.30 premium.Client called me last October to add coverage for 3 grandchildren.I tried to discourage from wasting her money because like most FE clients she's lower income but I could tell she really wanted to cover them so I gave her a quote for 3 separate whole life policies with Monumental and hoped she would not think it was worth it so i wouldn't have to write it.She said she would think about it and compare it to the " other " prices.That was a mistake I wont make again - to let her go shopping.Anyway I received a notice from Monmental that she let her policy lapse as of 1/8/13 and when i talked to her today she told me that when the Assurity agent came out to write the grandchildren policy he told her that bundling everything together would be cheaper even though she told him that she wasn't looking to change her coverage.She said the Assurity agent really messed up the paper work and now she doesn' t have any coverage and she wants me to come see her to reinstate her policy but she is going to keep the 10,000 Assurity policies she bought for her grandchildren at 8.00 a month each.I am not very familar with Assurity but i ran a Fexquote for FE in Fl. and they are 5.00 more per month more for a 20k FE policy than Monumental.Does Assurrity have a policy in Florida with a grandchildren rider that would have made this a valid replacement?Does Monumental usually send replacement notices to agents to try to conserve business? Even though I don't see the need for it if my client calls me and wants to buy insurance on their grandchildren I am going to help them get it one way or another.I am not going to let my client go grandchildren insurance shopping again so is what is the least worst deal for this type of insurance?

 

[cds251]

Lesson learned.

She told you what she wanted. She told you what her "problem" was. Your job was to find the "solution".

It's not really your job to "see a need for it"

You failed to provide the solution so she went elsewhere, to someone that would do it/provide her with what she wanted.

 

[WinoBlues]

I wrote a 20k Monumental preferred FE on NS 56 yr old female effective 8/1/11 with a 55.30 premium.Client called me last October to add coverage for 3 grandchildren.I tried to discourage from wasting her money because like most FE clients she's lower income but I could tell she really wanted to cover them so I gave her a quote for 3 separate whole life policies with Monumental and hoped she would not think it was worth it so i wouldn't have to write it.She said she would think about it and compare it to the " other " prices.That was a mistake I wont make again - to let her go shopping.Anyway I received a notice from Monmental that she let her policy lapse as of 1/8/13 and when i talked to her today she told me that when the Assurity agent came out to write the grandchildren policy he told her that bundling everything together would be cheaper even though she told him that she wasn't looking to change her coverage.She said the Assurity agent really messed up the paper work and now she doesn' t have any coverage and she wants me to come see her to reinstate her policy but she is going to keep the 10,000 Assurity policies she bought for her grandchildren at 8.00 a month each.I am not very familar with Assurity but i ran a Fexquote for FE in Fl. and they are 5.00 more per month more for a 20k FE policy than Monumental.Does Assurrity have a policy in Florida with a grandchildren rider that would have made this a valid replacement?Does Monumental usually send replacement notices to agents to try to conserve business? Even though I don't see the need for it if my client calls me and wants to buy insurance on their grandchildren I am going to help them get it one way or another.I am not going to let my client go grandchildren insurance shopping again so is what is the least worst deal for this type of insurance?

Unless I am invited in by an agent I take control of all the policies in a home. If I am invited in by say a Farmers buddy I defend them like I wrote them.

You are fortunate that they used Assurity. You can beat them all day long. Since your Monumental policy is now contestable again. Shop it out. Per FXquotes Oxford and Americo both beat Monumental and Assurity. Then replace the kid's policies. Better yet if they are siblings write the parent and put the kids as riders.

 

[TDFnCali]

I wrote a 20k Monumental preferred FE on NS 56 yr old female effective 8/1/11 with a 55.30 premium.Client called me last October to add coverage for 3 grandchildren.I tried to discourage from wasting her money because like most FE clients she's lower income but I could tell she really wanted to cover them so I gave her a quote for 3 separate whole life policies with Monumental and hoped she would not think it was worth it so i wouldn't have to write it.She said she would think about it and compare it to the " other " prices.That was a mistake I wont make again - to let her go shopping.Anyway I received a notice from Monmental that she let her policy lapse as of 1/8/13 and when i talked to her today she told me that when the Assurity agent came out to write the grandchildren policy he told her that bundling everything together would be cheaper even though she told him that she wasn't looking to change her coverage.She said the Assurity agent really messed up the paper work and now she doesn' t have any coverage and she wants me to come see her to reinstate her policy but she is going to keep the 10,000 Assurity policies she bought for her grandchildren at 8.00 a month each.I am not very familar with Assurity but i ran a Fexquote for FE in Fl. and they are 5.00 more per month more for a 20k FE policy than Monumental.Does Assurrity have a policy in Florida with a grandchildren rider that would have made this a valid replacement?Does Monumental usually send replacement notices to agents to try to conserve business? Even though I don't see the need for it if my client calls me and wants to buy insurance on their grandchildren I am going to help them get it one way or another.I am not going to let my client go grandchildren insurance shopping again so is what is the least worst deal for this type of insurance?

Why would u let ya own client go price shopping & speak to another agent? Why would u EVERYTHING do that? U gave her a choice to shop & she did, regardless if the other agent lied... She wouldn't have met that other agent had u did what she asked!

TDF
Sent via my Sprint Phone using Insurance Forums App

 

[WinoBlues]

FYI, on the kids. $25,000.00 GUL 20 pay is about $8.mo $10,000.00 WL 10 pay is about $14.mo

Write the kids, then the parents, then the in laws....... Send the Assurity agent a thank card.

 

[yogooglethis]

Why would u let ya own client go price shopping & speak to another agent? Why would u EVERYTHING do that? U gave her a choice to shop & she did, regardless if the other agent lied... She wouldn't have met that other agent had u did what she asked!

TDF
Sent via my Sprint Phone using Insurance Forums App

Yes I realize it was a mistake .90% of my income is from Medicare health plans and only sell FE when asked by a client so I would not consider myself expert in FE so when she called me about writing a policy on her grandchildren i didn't even know if it could be done and what was involved and it was also in the AEP period so i was extremely busy.I am learning about the product now because it also seems like a good product to write to keep your foot in the door to sell medicare plans at a later date.

 

[jacobtn]

I would try to use it as a learning experience and move on. trust me we have all made mistakes like this and that's what helps us be better agents.

Yes I realize it was a mistake .90% of my income is from Medicare health plans and only sell FE when asked by a client so I would not consider myself expert in FE so when she called me about writing a policy on her grandchildren i didn't even know if it could be done and what was involved and it was also in the AEP period so i was extremely busy.I am learning about the product now because it also seems like a good product to write to keep your foot in the door to sell medicare plans at a later date.