Wow Bankers Really Did It with this Lady!

[yogooglethis]

Was just in another household where a Bankers agent basically took advantage of this lady. First of all, signed her up for their overpriced plan N. Secondly, took about 4-5 old life policies and did a 1035 exchange into a new universal life with a 35k face amount. They rated her up 6 levels and are currently charging her 197 a month! Also, sold her a critical illness plan at 50 a month. She's lost and trying to care for a husband with Altzheimers. I wanted to cry thinking about what this agent did. She did have a pacemaker put in about 5 years ago, but no current heart meds besides one for bp. Takes a anti-depressant and risperdol for (nerves). Said she hasn't been diagnosed with bipolar or any mental issue like that. So, what would you do to help her? I want to switch her sup, but not sure who will take her with the risperdol. Also, I was considering looking into a SPWL for the original 1035 amount still in the policy and then adding on to whatever that gave her. I think it will be less expensive. Any ideas? Thanks.

I don't think you can do anything to help her by selling her a new med supp but you can help her if the Bankers's agent put her in a worst spot than she was before. I see it many times Banker's agent come replace their own plan F with the N at about the same or more premium while putting the client in a higher entry age bracket.I also have had Banker's agent replace one of my clients AARP/UHC plan J with their higher premium F because the BL agent told the client the J wasn't " Modernized Compliant " Funny thing is that the client was initially mad at me for not telling them about the modernization of med supps.BL agents are good about bad mouthing the competition and some people fall for their BS and scare tactics

If they replaced an AARP/UHC or BCBS med supp it is especially bad because in Florida anyway both AARP and BCBS will let client go for example from plan F to N and still retain their original entry age premium which many times is age 65.because AARP and BCBS are usually the lowest premium in Florida there really isn't too many times you can switch them to another carriers N and be doing them a favor because they can just switch down to N with AARP or BCBS w/o underwriting if it's a modernized plan and still retain their original entry age

So you can help this lady by showing her how to file a complaint if what the agent did was blatant churning.

 

[rousemark]

I wasn't referring to only this forum. I read many of the forums on this website and believe me there are lots of sexist comments and many of the op's have been called out on them and some have apologized. I have read comments where the poster has gone so far as to say that women should not even be insurance agents.

You really are coming across as someone who is expecting to be offended and are finding what you expect.. Anywhere you go, you are going to find sexist remarks.. I don't see the men complaining about all the stereotypes that are posted about them.. It is a part of life and the blade is double edged.

 

[Seniorgirl411]

I've never had a problem on this forum. Moreover, I have had many people help me and give me really good suggestions/info. I really appreciate that. I keep trying to learn more about all the companies available no matter how long I have been in it. I haven't had anyone with this particular med and I have seen it on a decline list. I'm hoping I can help save her some money somehow. I'm pretty stumped about the life insurance though. She might be stuck with it. I'm just not sure how long she can keep paying it. I'm thinking the money she spends for critical illness would be better spent(or even less premium)on a STC policy. She cares for her husband, but would have no one for her. I don't think she could qualify or pay for a full LTC policy.