Getting My Competition Terminated

[WinoBlues]

Lol you think an agent will lose his license just because you think his replacement had no merit? 50% of fe business is replacement and I bet every agent doing the replacement thinks the previous policy is unethical and wrong. Again many fe clients are un educated and easily manipulated by whoever the agent in the house that day is.

I have the clients go after the company if I can follow the referrals even better. I cause as much grief as I can for predator salesmen.

Because the FE market is so uneducated and easily manipulated is why some salesmen pick the market.

 

[Biggin]

I can see why you'd "turn someone In". But I don't trust the client OR the other agent. I figure that I'll fix the problem and move on. The client can do whatever they want concerning the other agent.

 

[Mavrik]

Do you guys carry replacement forms for every carrier you represent or have you found a generic?

I came across a graded Lincoln Heritage policy today when the guy can probably get day 1 coverage. My prob is I don't have replacement forms for the carrier where I want to place him. I must have missed ordering them.

Is my only choice to go back?

 

[jdeasy]

Do you guys carry replacement forms for every carrier you represent or have you found a generic?

I came across a graded Lincoln Heritage policy today when the guy can probably get day 1 coverage. My prob is I don't have replacement forms for the carrier where I want to place him. I must have missed ordering them.

Is my only choice to go back?

Every company has their own form. Job 1 is to have all the supplies. If you want that business you will have to go back with the proper forms.

Or I suppose you could write it and check that there is a replacement and then get the replacement form signed as an amendment when you deliver the policy?

 

[Newby]

Do you guys carry replacement forms for every carrier you represent or have you found a generic? I came across a graded Lincoln Heritage policy today when the guy can probably get day 1 coverage. My prob is I don't have replacement forms for the carrier where I want to place him. I must have missed ordering them. Is my only choice to go back?

Every single application I have has the replacement form stapled right to it.

In many states you have to fill them out with every application regardless of if you replace insurance or not.

 

[Mavrik]

Every single application I have has the replacement form stapled right to it. In many states you have to fill them out with every application regardless of if you replace insurance or not.

Lesson learned. Apps ordered from the company often include replacement forms. However, when printing them myself, I've got to remember to attach a replacement form.

 

[donamese]

In the past I have turned in 2 different agents for obviously replacing policies with absolutely no merit what so ever to the insured. The DOI, after 90 days of investigating, did absolutely nothing.

In one case the insured could not read or write or even sign his name, he made an X. I made sure when I wrote him I had his family members there to witness the transaction. His replacement policy had his full signature in writing on it yet the DOI just turned a blind eye to the truth.

The reality is, agents will see more happenings than carriers and DOI will and they understand the issues where a client can easily be fooled. The clients won't turn the agent in because they aren't aware of the issue, the carriers and DOI do not see the wrong doing so if the agents don't report it then there is no way to police. DOIs are state employees and not always eager to actually do their work but carriers are typically diligent about getting these people out as they are the ones losing money via claims or lawsuits due to these producers. Guess who takes the hit for those? The ethical producer and clients through increased premiums or decreased commissions.

This case seems a little sketchy on both the client and the producer side but the client did not sign and agree to an ethical standard like the agent did when they got their license and contracted with carriers. If a client says non-tobacco but smells like the ashtrays that are scattered around the house or claims to be 175lbs but looks all of 300, I won't take the app unless there is a decent excuse and that still goes in the agent statement to CYA. Turning a blind eye to deliberate actions like this is pretty much an FU to your fellow ethical agents and all your honest clients. You don't have to hunt them down yourself but having the client call or a quick email to the carrier to follow up is not a waste.

 

[rousemark]

In the past I have turned in 2 different agents for obviously replacing policies with absolutely no merit what so ever to the insured. The DOI, after 90 days of investigating, did absolutely nothing.

In one case the insured could not read or write or even sign his name, he made an X. I made sure when I wrote him I had his family members there to witness the transaction. His replacement policy had his full signature in writing on it yet the DOI just turned a blind eye to the truth.

DOIs will seldom act upon the complaint of another agent. The complaint has to come from the consumer.

 

[myonbroker]

Yes what the agent did was wrong and you benefited from that error in judgement but probably not a good idea to brag about it on the Forum. You know Karma and all that.

 

[Cyborg7]

What a crazy gray area this thread exposes.

The truth of the matter is that alot of clients could be manipulated by agents in any number of ways.

A scary example would be broke azz desperate obese agents trying to convince customers to cancel policies with scare tactics ...