Disect my Day.

[Norwayguy]

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calling my carriers to check on the apps that I had submitted when one of the carriers tells me that the one app was withdrawn because the client called the company wanting to withdraw!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?

You most likely can not save this. But take a page from some LTC agents. To protect themselves from being sued by children for not offering coverage, when they offer a policy and the prospect refuses they have them sign a form stating what was recommended and the client is refusing coverage.

Ask the lady if you can mail or fax the form to her son stating that coverage was offered and applied for and that it was withdraw by the applicant based on the beneficiaries request. You might even tell the lady you will provide her a copy for her records so when the 3k doesn't go far enough her son will see it was by his choice you did not have the extra coverage.

 

[PaperHanger]

Just this week, an April rewrite that soon terminated again due to another NSF, wanted a death claim. The common law husband wasn't kicking in his end, and would promise but never deliver on the back premium. and now she herself termed and the daughter called me in tears about getting the policy info..

And I just know the guy knew it was canceled and had the daughter call anyway , he was probably sitting there with her.