Nice Try, Bankers....

[Biggin]

They sent in a cancellation on a whole life in the hopes that they would be approved for a UL. The rate was only a few dollars less but NO WAY would she get approved for fully underwritten. This is why you never cancel a policy before the new one is approved. The agent has just over a year in the biz.

I can hear the herd thinning..........

 

[jdeasy]

They sent in a cancellation on a whole life in the hopes that they would be approved for a UL. The rate was only a few dollars less but NO WAY would she get approved for fully underwritten. This is why you never cancel a policy before the new one is approved. The agent has just over a year in the biz.

I can hear the herd thinning..........

They do that all the time. About a year and half ago I got a cancellation notice on a $25K AmCon policy. When I checked into it a Bankers agent had replaced it with a FU UL. No way could this dude qualify for FU.

But they cancelled the current policy before the outcome of the underwriting. Of course the guy was declined. I was able to get him back with AmCon but he had a two month period without insurance.

This agents card said he was a "vice president" with Bankers. Worked out of the Indianapolis office.

Ran across another one that this same guy wrote. This guy had 4 policies when he met the Bankers agent. A 5 Star, an LH, an OA and an AARP. Totaled $17,000 coverage. All out of the contestable period and all had cash value except for the AARP.

This guy put him in a 3 year graded $17,000 Bankers policy for just about the same premium as the other 4 together. But this time didn't cancel them or surrender them. They just called and stopped the drafts.

The reason he sent in another lead card that I got was because he had just realized the policy was a 3 year graded. The Bankers agent told him it was level coverage. This as the rare person that actually opened the policy and read it.

I was able to put him one level policy for $50/mo less than the Bankers and fortunately all those policies had APL and the cash was keeping them in force.

Once we had his new policy in hand was able to help him get the remaining cash values which was about $600 total and a partial refund from Bankers of about $200.

This is a "vice president"?

The guy wasn't able to contact the Bankers agent once he realized what he had bought.

But once that policy was replaced the Bankers agent showed up at hi dor. Big mistake! Supposedly the Bankers agent told the guy that he had informed him that it was a 3 yar graded.

The neighbor told me that my client chased the Bankers agent to his car with a baseball bat. My client just said he "ran him off".

 

[Newby]

I had one where a Med Sup client had Parkinson's Disease. Bankers replaced it and just answered no to the Parkinson's Disease question.
I don't know if there was a phone interview but she never lied about it to me.

 

[Biggin]

Just spoke with the client and she said that the "agent" has called all day yesterday and this am. Also stopped by yesterday. The most dangerous agent is a desperate one. Americo was really great to work with on this. I just called them and they reinstated the draft (apparently they didn't actually send a written cancellation).

Americo has it's issues but I got a "It's a great day at Americo today, how may I help you?". Call me corny but I love that.

 

[gymguy]

Man people can be such losers. I hate people who wrong people so they can get paid. Its no different than stealing imo.