Changing Agents Before Policy Is Signed

[DBinSJ]

I recently applied for a new life insurance policy.

Prior to my coming to his office to sign the application, the agent was very responsive to questions. After signing the application, he has been completely unresponsive. In other words, he will not answer a simple question, politely phrased.

My wife says: "If that's the way he is after the application has been signed (but before the policy has been signed), I shudder to think about the quality of service we would get after you actually sign the policy." She does not want me to continue with this agent.

My question is this: If I were interested in getting the policy that I applied for (with a particular company) but not through this agent, am I able to do that? I signed the application and someone came to my residence to collect medical information and samples but I have not signed the policy.

Any insight would be appreciated.

 

[pcbinsurance]

You have a free look period so you can always apply with another Carrier.

 

[Josh]

It's possible there just isn't an update from the carrier. Once the policy is issued the service work (not the least of which would be a potential claim) would be handled by the carrier. Not that you couldn't fire the agent right now, but ultimately you'll want to make sure the carrier is giving you the type of customer service you'd like. Have you called them to check on the status?

 

[pcbinsurance]

I think he's talking about before the policy is issued. An agent should be available during that period and, to some degree, after the policy is issued. Simply ignoring them, at this point in the process, is terrible customer service.

 

[Josh]

I think he's talking about before the policy is issued. An agent should be available during that period and, to some degree, after the policy is issued. Simply ignoring them, at this point in the process, is terrible customer service.

I couldn't agree with you more.

If it's the right policy with the right carrier though free looking it now could be a big problem. What happens if the policy gets issued now, they free look it, then go find another agent and in that period of time there is a change in health or even worse, the need for a claim?

 

[pcbinsurance]

If it's the right policy, company, and price, I would stick with it. However, if they want to, there is nothing wrong with them applying for the same type of policy with an equally good company while original app is in underwriting. Who knows, what they applied for may not be the best option.

 

[DBinSJ]

I think he's talking about before the policy is issued. An agent should be available during that period and, to some degree, after the policy is issued. Simply ignoring them, at this point in the process, is terrible customer service.

Thank you all very much for your responses.

I don't know that the "free look" period applies here, as we have not gotten to the point that I signed for/provisionally accepted a new policy. All I signed was the application.

I have not cancelled my existing policy and will not do that of course until an appropriate point in the future.

I was not asking the agent for an update from the carrier. My wife was asking about the likely time frame because it relates to an upcoming quarterly payment on my existing policy.

The question is whether I am at liberty to go through a different agent or perhaps apply to the carrier directly, for the same policy--or would I be obliged to stay with the agent who submitted the application on my behalf, *if I want a policy through the carrier to which we applied* (the same policy, a 20-year, fixed term life policy)?

I don't know what the rules of the game are in insurance.

 

[1963]

If the policy has yet to be delivered, the free look period has not started; it starts on the date of policy delivery.
One option you have, since you do have coverage already, you can decline the policy within the free look period, pay the quarterly premium on the existing policy, and seek an independent agent that markets the same product as the one you want.

 

[WMG]

I would call and leave one final voice mail and send one final email. State it is imperative that you get a return phone call and explain that you have a premium coming due on your current policy/coverage.

If you get no reply within 3 business days -- and state that's what you want -- then call the office, main office, etc. and speak with a manager, branch manager, general agent, etc.

This is deplorable client treatment and you should be concerned.