to lead a prospect to believe they are buying from the parent carrier when in fact the policy sold is through a subsidiary?
Talked with a guy earlier that just bought a Medigap plan from Manhattan a few hours before visiting my site and running rates. That used to piss me off now I consider it an open door.
When I called and found out the sequence of events I asked, "Why did you continue to look once you signed up?".
They always give some variation of "just making sure I got the best rate".
I also have no qualms about asking what they bought. Most of the time they have no problem telling me. Occasionally they say it's none of my business and rarely, very rarely, they simply hang up.
In this case he bought a G plan from Manhattan.
So I said, "Manhattan stopped writing business in Georgia in November. If you just signed up today you bought from Western, not Manhattan".
"No, I bought from Manhattan. Been in the Medicare business over 100 years".
Medicare was created in 1965 so they can't have been in the Medicare business for over 100 years. Perhaps the guy said the company had been in business that long?
"Could be. But I bought from Manhattan, not this Western company you mentioned"
I figured that horse was dead for now so I moved on. Then he said, "As long as their renewal rates are around 4% I will just keep what I have".
Problem is, Western has only written Medigap business for a few months so we don't know about their renewals. Manhattan however has given renewals ranging from 7% to 9.5%.
He was unwavering so I asked "Do you mind if I summarize our conversation in an email? In the meanwhile you can think it over. Still have time to change your mind."
He agreed so I sent a follow up email stressing the misinformation about the carrier and a few other things. Now I wait and see if the fish takes the bait.
This isn't the first time I have run into misrepresenting the carrier. Telling folks they are buying from Mutual of Omaha when they are the parent, not the issuing carrier. But sometimes agents will say they are buying from Mutual of Omaha when all Omaha does is provide the reinsurance, or is the TPA.
Yeah, that's a bit of a stretch don't you think?
Get the same with Aetna when they really bought from CLI, AHL or ACI or even Genworth.
I guess some agents think "white lies" are OK if it makes the sale.
Talked with a guy earlier that just bought a Medigap plan from Manhattan a few hours before visiting my site and running rates. That used to piss me off now I consider it an open door.
When I called and found out the sequence of events I asked, "Why did you continue to look once you signed up?".
They always give some variation of "just making sure I got the best rate".
I also have no qualms about asking what they bought. Most of the time they have no problem telling me. Occasionally they say it's none of my business and rarely, very rarely, they simply hang up.
In this case he bought a G plan from Manhattan.
So I said, "Manhattan stopped writing business in Georgia in November. If you just signed up today you bought from Western, not Manhattan".
"No, I bought from Manhattan. Been in the Medicare business over 100 years".
Medicare was created in 1965 so they can't have been in the Medicare business for over 100 years. Perhaps the guy said the company had been in business that long?
"Could be. But I bought from Manhattan, not this Western company you mentioned"
I figured that horse was dead for now so I moved on. Then he said, "As long as their renewal rates are around 4% I will just keep what I have".
Problem is, Western has only written Medigap business for a few months so we don't know about their renewals. Manhattan however has given renewals ranging from 7% to 9.5%.
He was unwavering so I asked "Do you mind if I summarize our conversation in an email? In the meanwhile you can think it over. Still have time to change your mind."
He agreed so I sent a follow up email stressing the misinformation about the carrier and a few other things. Now I wait and see if the fish takes the bait.
This isn't the first time I have run into misrepresenting the carrier. Telling folks they are buying from Mutual of Omaha when they are the parent, not the issuing carrier. But sometimes agents will say they are buying from Mutual of Omaha when all Omaha does is provide the reinsurance, or is the TPA.
Yeah, that's a bit of a stretch don't you think?
Get the same with Aetna when they really bought from CLI, AHL or ACI or even Genworth.
I guess some agents think "white lies" are OK if it makes the sale.