Frustrated

[yogooglethis]

I had that exact thing happen

I signed a Husb and wife to AARP supp

then they were cancelled the next month
I called them they said the nice banker agent saved them
from making a big mistake

that the reason the AARP was so much cheaper
was that is was not a real supplement but through there association
and that many doctors will not take them

And that bankers was so much more because its a real supplement and must be excepted everywhere

Just cant fix stupid

But any time I hear some crazy story from a client
it has always been because a bankers agent

I also had similar thing happen when Banker's agent got in home of my clients who I wrote AARP J when T65 for which each was paying 180.00.Banker's agent put them on F for 230.00 and reason they recommended change was because he told them they were at risk staying on a non modernized supplement and convinced these people that I was a bad agent for not contacting them and alerting them to the modernization of med supps that took place in 2010.My experience is that if a consumer believes a Banker's agent lies enough to switch it's hard to convince them otherwise and the harder you try the more you end up looking like a desperate agent and the one who did something wrong in the first place.

I wish the UHC would send agents a copy of replacement forms because that would be written proof of the agent either lying or churning to get business.I did find out that these people did go back to UHC about 2 years later and because of re entering at a higher age band had to pay 200.00 for F where if they hadn't believed Banker's lies they would still be paying 180.00 for J or could have switched to F with UHC for the same premium

 

[vic120]

I also had similar thing happen when Banker's agent got in home of my clients who I wrote AARP J when T65 for which each was paying 180.00.Banker's agent put them on F for 230.00 and reason they recommended change was because he told them they were at risk staying on a non modernized supplement and convinced these people that I was a bad agent for not contacting them and alerting them to the modernization of med supps that took place in 2010.My experience is that if a consumer believes a Banker's agent lies enough to switch it's hard to convince them otherwise and the harder you try the more you end up looking like a desperate agent and the one who did something wrong in the first place.

I wish the UHC would send agents a copy of replacement forms because that would be written proof of the agent either lying or churning to get business.I did find out that these people did go back to UHC about 2 years later and because of re entering at a higher age band had to pay 200.00 for F where if they hadn't believed Banker's lies they would still be paying 180.00 for J or could have switched to F with UHC for the same premium

Yea but now that I am a little more experienced
whenever I hear something crazy told to a prospect

I usually say, Heh was that a bankers agent that said that?

Client say, huh how did you know?

Yea I'm familiar, they are captive agents and can only sell 1 product so they can be desperate when they are higher priced

Hey I bet they tried to couple in other products as well

Client ; Uh yea

and it usually goes well from there



It was a little tough when I first started to encounter them
but they have to be trained that way because they all have the same lies

 

[yogooglethis]

Yea but now that I am a little more experienced
whenever I hear something crazy told to a prospect

I usually say, Heh was that a bankers agent that said that?

Client say, huh how did you know?

Yea I'm familiar, they are captive agents and can only sell 1 product so they can be desperate when they are higher priced

Hey I bet they tried to couple in other products as well

Client ; Uh yea

and it usually goes well from there



It was a little tough when I first started to encounter them
but they have to be trained that way because they all have the same lies

Well I have been selling med supps since 1992 the year that standardization started so i have about as much experience as anybody selling these and i have a very sensitive radar for detecting when a client/prospect has recently had an encounter with a Banker's agent banker and yes in this particular case I asked them " was it a Banker's agent ? " but it didn't help in this case.Even though most rational people will realize they have been duped by a Banker's agent when you bring it to their attention there is still a few who fall for the Banker's spiel about their med supp superiority and their negative selling against the competition that sometimes the replaced agent is the last person they will believe or sometimes they may realize they made a mistake but are too embarrassed to admit it.In this case these people eventually realized they made a mistake but I was the last person they wanted to face when they decided to go back to a UHC med supp.

 

[vic120]

Well I have been selling med supps since 1992 the year that standardization started so i have about as much experience as anybody selling these and i have a very sensitive radar for detecting when a client/prospect has recently had an encounter with a Banker's agent banker and yes in this particular case I asked them " was it a Banker's agent ? " but it didn't help in this case.Even though most rational people will realize they have been duped by a Banker's agent when you bring it to their attention there is still a few who fall for the Banker's spiel about their med supp superiority and their negative selling against the competition that sometimes the replaced agent is the last person they will believe or sometimes they may realize they made a mistake but are too embarrassed to admit it.In this case these people eventually realized they made a mistake but I was the last person they wanted to face when they decided to go back to a UHC med supp.

I only meant experience with Banker's agent's as it pertains to me

not in regard to experience with Supps
and in no way was meant towards you

I am sorry if it came off the wrong way

and I agree whenever a prospect realizes the agent was right and they are wrong
that agent is the last person they want to sign with

 

[Bevo]

If the words "Banker's Life" come up and you think they might not get the deal, just send em' this video.

If they still want to work with the BL agent after watching this you might not have wanted them as a client in the first place.

Courtesy on Youtube of Chris Westfall btw...thanks Chris.

https://www.youtube.com/watch?v=bL8qRMv994Y

 

[yogooglethis]

If the words "Banker's Life" come up and you think they might not get the deal, just send em' this video.

If they still want to work with the BL agent after watching this you might not have wanted them as a client in the first place.

Courtesy on Youtube of Chris Westfall btw...thanks Chris.

https://www.youtube.com/watch?v=bL8qRMv994Y

Believe me I thought about sending a link to this video to clients/prospects a few times after being sabotaged by a lying banker's agent but didn't because if it if was alleged I sent it to retain PDP or MA business it could get me in trouble for disparaging the competition.It's probably in the AARP/UHC med supp contract that you can be termed for disparaging other med supp carriers as well to consumers

 

[Chazm]

Believe me I thought about sending a link to this video to clients/prospects a few times after being sabotaged by a lying banker's agent but didn't because if it if was alleged I sent it to retain PDP or MA business it could get me in trouble for disparaging the competition.It's probably in the AARP/UHC med supp contract that you can be termed for disparaging other med supp carriers as well to consumers

Bankers doesn't have a med supp tho

 

[CALTCAgent]

As much as I don't care for Bankers "practices".........

That video does make Bankers look bad, the "worry box" stuff doesn't sound good, I suspect if we went behind the scenes at many sales trainings of many companies, they would not sound good.

Where it goes off track is that an annuity does have a 10% penalty free withdrawl. They sensationalized to make a story that sells, IMO.

That being said Bankers has a terrible reputation for training agents.

 

[John Galt]

Next! ......................................

My brother from another mother has spoken the truth!! NEXT!!!!!!!!!!!!!!!

 

[bill3173]

The only thing that I've found that worked when attempting to replace a BL policy is to sound a little "deflated" when I initially find out that they have BL, and let them know that BL is not going to let them replace it anyway.

If they're really interested, they will take the lead in setting the appointment and getting the policy replaced.