Has a Potential Client Ever Asked You to 'rebate'?

[Guest]

A buddy of mine was telling me a couple of years ago that an annuity client asked him once, the commission was over $10K. He said it was tempting but he told the guy no.

I'm P&C and have never been asked. If I were I would tell them to get lost and wouldn't even consider writing the policy after that.

I figure it is probably more common with annuity sales. Although still not common at all.

Just wondering if any of you vets out there ever ran across this and how you responded?

 

[BIG RED IS BACK]

oh geez, here we go again, remember that guy a few months ago that was argueing with everyone about rebating?

NO, I would never do it, if someone asks you to do it, my first thought would be, they are from the DOI...

 

[Guest]

oh geez, here we go again, remember that guy a few months ago that was argueing with everyone about rebating?

Hmm.. Guessed I missed his posts.

I was just thinking about it the other day and wondered if it ever actually happens. Figured I'd post about it, give us something new to talk about other than the usual 'How can I sell supps over the phone?' and 'how do I start a P&C agency?'.

 

[senior-advisor-indiana]

Hmm.. Guessed I missed his posts.

I was just thinking about it the other day and wondered if it ever actually happens. Figured I'd post about it, give us something new to talk about other than the usual 'How can I sell supps over the phone?' and 'how do I start a P&C agency?'.

You can't sell supps over the phone and its hard to get P&C contracts without building a book of business first...

 

[Guest]

You can't sell supps over the phone and its hard to get P&C contracts without building a book of business first...

Good to know! I've searched and searched the forum and can't find any info about it.

 

[Cory]

I've only had one person ask and this was because another agent mentioned it to the prospect we were both working. IN that particular state it was illegal, but is hard to avoid at times b/c some agents will do so just to write an app.

 

[Tahoe Ray]

I've only had one person ask and this was because another agent mentioned it to the prospect we were both working. IN that particular state it was illegal, but is hard to avoid at times b/c some agents will do so just to write an app.

I had a similar situation...we lost the case.

 

[bluemarlin08]

Had an attorney ask for half the commission on a large life case, 150,000 commission, told him he had to be licensed, he found another agent that would.

 

[AngelBand]

Never had anyone ask but the post about doesn't surprise me at all. That is a profession in which many of it's players come to believe that they are above the law, IMHO.

 

[FEX Quotes]

Had an attorney ask for half the commission on a large life case, 150,000 commission, told him he had to be licensed, he found another agent that would.

Similar to your answer, I might have said..

"Sure, no problem. Let's keep it legal and and above board. What is your producer code?"