Might.. Was tempted to mail in a LH last week..Thankfully, I have no doubt that you would have the common sense not to mail in one of the reply cards...
Disect my Day.
- Thread starter onefastpony
- Start date
- 1,763
It's like getting girls. I only get the ones that want me. Seems if I try to get the ones I want it never works. That's why when they tell me "I needs me sum insherernce",I'm going in,otherwise I walk.
- Thread starter
- #35
- 847
Has this happened to anybody on here before and if so how do you protect against it?
I was calling my carriers to check on the apps that I had submitted when one of the carriers tells me that the one app was withdrawn because the client called the company wanting to withdraw!
I called the client and asked what had happened since we had discussed that she wanted more coverage and for it to be WL. She said that after we were done she called her son who lives a few hours away from her to let him know about the new plan. She wanted to make sure that he knew there was more coverage in place. She said the son told her to cancel it that he would take care of everything and the 3K she had in place was enough.
Now, the homes that I've been going to have been right in the middle of middle income America. It is feasible that the children COULD have the savings but why would a child tell a parent to cancel a plan that is designed to help?
Any thoughts?
I was calling my carriers to check on the apps that I had submitted when one of the carriers tells me that the one app was withdrawn because the client called the company wanting to withdraw!
I called the client and asked what had happened since we had discussed that she wanted more coverage and for it to be WL. She said that after we were done she called her son who lives a few hours away from her to let him know about the new plan. She wanted to make sure that he knew there was more coverage in place. She said the son told her to cancel it that he would take care of everything and the 3K she had in place was enough.
Now, the homes that I've been going to have been right in the middle of middle income America. It is feasible that the children COULD have the savings but why would a child tell a parent to cancel a plan that is designed to help?
Any thoughts?
- 9,744
When you asked her (as part of your qualification process) if she relied on anyone for advice or guidance in matters like this, what did she say?
It is not at all unusual for a child to tell the parent.. You don't need insurance, I'll take care of it. Then when the time comes, they whine and cry over the cost and the fact the "money grubbing" funeral home wants the money up front.
- 18,989
That happens more than it should. Ron White has a saying about that.
But it's good that you check on it and follow through. This one couldn't be saved but you will find that most companies have a very active business prevention dept.
I had a similar case this week with 5 Star. There was policy on the website that should have been active and wasn't. I called to find out why and was told the lady called in and cancelled. I knew something was wrong with that story so when I called the client she said she had called 5 Star to give them her account number, {she had changed accounts that she wanted drafted from}. She called them on Oct. 31. Her draft was to be on Nov 3. They wouldn't take her information because it wasn't due yet. They told her she would have to call back after Nov 3. Not only would they not let her pay they entered it into the system as a cancel.
Then, to make it right, I had to go se the lady and have her sign that she did want to keep the policy.
Although I'm talking about 5 Star here I could give examples of almost every company doing these things. Had a similar story with Settlers. Many times with RNA.
The difference I've seen with the other companies is that when they realize they are the ones that made the mistake they are usually more than willing to correct the mistake. That's not the case with 5 Star. I had another case with them this week also where they were not drafted the premium from the lady's DE card and did not notify her or me that it wasn't being drafted. It was 3 months before they realized it and then just lapsed the policy. They wouldn't let us just redate it and start over properly drafting. They wanted the 3 months back premium. Even admitting the whole time that it was their mistake.
It's only $40/mo and the lady paid it because I don't have another company that takes the DE card. If I did I would have moved her.
But, back on your point, I've lost cases when the kids got involved after the fact. Some I've been able to save by educating the kids but more often than not the deal is over.
I do have a story I share that helps get them on board. About 4 years ago I get a referral from a client for a lady that lives in her building. I go meet with her. She is early 50's and $10,000 coverage only costs about $28/mo. She qualifies and is thrilled with the coverage and the price. She was really concerned that her daughter was going to have to find a way to pay for her funeral. I put this lady with RNA.
First draft is not honored at the bank. I call her to see what's up. She said her daughter said she needed the $28/mo more for living expenses than dying expenses, {exactly what she said}.
6 weeks later this lady dies of a heart attack.Then I get a call from the daughter. Wants to know if the company will pay. I tell no because she never even made the first payment and that the reason was that she was told by one of her daughters that she didn't need the policy. She admits that it was her that told Mom to drop the coverage. She then gets to wailing about how is she going to pay for this, what is she going to do? I told her that's why her mother wanted the policy so that she wouldn't be in this situation. She then goes on some rant about suing me and the company. Never heard from her after that.
Unfortunately the longer you are in this business you will gain stories like that.
- 5,260
Ahhggg, stupid a$$ people!!!!
People are broke and can't pay for FE because of the hat type of attitude and outlook and you can't fix it.That happens more than it should. Ron White has a saying about that.
