Getting My Competition Terminated

Rearden

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5000 Post Club
I finally got into the door of a lead we've been working the past 4 months around 6 weeks ago.

Upon meeting the prospect and doing some fact-finding, I discovered she had a policy on herself and her husband (he was at work) through a fairly common final expense company I and other agents occasionally will sell.

Reviewing her husband's policy, I reviewed the copy of the application and found the agent checked "No" to the tobacco question, which the wife claimed vociferously that she told the agent he smokes non-stop.

Anybody catch that?

I asked her to clarify what she meant by "she told the agent"; apparently, the agent asked her to sign his name for him since he was at work, and to sign off on her daughter's name as the payor, as she lived an hour south.

Naturally, I made my stand and informed her how the company requires the agent to be present to issue the policy, and how the agent wrongfully advised her to sign off for her husband.

I was able to replace his policy through Lafayette, and advise my client to call Customer Service and escalate a complaint regarding how the agent misguided the applicants, so as to request a refund.

Fast forward to today; the applicant is sending a notarized copy of his signature and the payor's signature to said company with the ultimate goal of refunding around 6 months worth of premiums paid in, and to successfully terminate this agent.

The agent in an obvious act of desperation accused my client of both lying, saying that he in fact met with him, as well as accusing him of insurance fraud.

Moral of the Story -- Follow the rules, and don't *&@# with my future clients. (And always review existing coverage!)
 
I would have made the replacement and let it go...

There are so many desperate agents barely surviving that it's sad...

That's not the worse part. I intend on selling FE for a very long time and if the states start making it harder for us to do that, then we will all suffer.

Somewhere there might be a politician saying, "See... another Final Expense agent EASILY took advantage of a senior citizen, let's get rid of this Final Expense Insurance!"
 
If there was a lie told then the applicants were in on the lie. Why didn't they do the right thing without another agent showing up?
 
I would have made the replacement and let it go...

There are so many desperate agents barely surviving that it's sad...

That's not the worse part. I intend on selling FE for a very long time and if the states start making it harder for us to do that, then we will all suffer.

Somewhere there might be a politician saying, "See... another Final Expense agent EASILY took advantage of a senior citizen, let's get rid of this Final Expense Insurance!"

I'm not leading the fight; I merely suggested, as a way to solidify the deal, what she could do to take action if she pleased.

Bottom line, the agent didn't follow protocol and hopefully will contribute to the thinning of the herd.

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If there was a lie told then the applicants were in on the lie. Why didn't they do the right thing without another agent showing up?

This was a non-POS carrier (meaning no 3rd party verification of WHO is being interviewed, and HOW questions are being answered), and, like most of both of our prospects, she gave him the benefit of the doubt and trusted that he was telling the truth that she could sign off on the policy for him.
 
I would have made the replacement and let it go...

There are so many desperate agents barely surviving that it's sad...

That's not the worse part. I intend on selling FE for a very long time and if the states start making it harder for us to do that, then we will all suffer.

Somewhere there might be a politician saying, "See... another Final Expense agent EASILY took advantage of a senior citizen, let's get rid of this Final Expense Insurance!"

Or, "the insurance industry will not do anything to police their agents.. Let's either get rid of the product or add another 10 layers of regulation".

How many people is he supposed to put in a precarious position financially before he should be reported? If he did it to one couple, he has probably done it to many more.
 
I'm not leading the fight; I merely suggested, as a way to solidify the deal, what she could do to take action if she pleased.

Bottom line, the agent didn't follow protocol and hopefully will contribute to the thinning of the herd.

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This was a non-POS carrier (meaning no 3rd party verification of WHO is being interviewed, and HOW questions are being answered), and, like most of both of our prospects, she gave him the benefit of the doubt and trusted that he was telling the truth that she could sign off on the policy for him.

I ain't buying that story. Who wouldn't question someone telling them to sign another person's name? Not just once but twice?

I bet if there was no chance at getting money back now her conscience wouldn't be bothering her nearly as much.
 
I would have made the replacement and let it go...

There are so many desperate agents barely surviving that it's sad...

That's not the worse part. I intend on selling FE for a very long time and if the states start making it harder for us to do that, then we will all suffer.

Somewhere there might be a politician saying, "See... another Final Expense agent EASILY took advantage of a senior citizen, let's get rid of this Final Expense Insurance!"

Seriously? The agent committed a felony and you'd just let it pass?

I've been accused of promoting my ethics where they don't belong. But in this case, the agent needs to lose his license.

Rick
 
Seriously? The agent committed a felony and you'd just let it pass?

I've been accused of promoting my ethics where they don't belong. But in this case, the agent needs to lose his license.

Rick

My job is to do the best I can for my clients...

Not to police other agents!

It's just not my style because of my past... I have made bad decisions and can honestly say that I am not the same person I was 20 years ago...
 
If there was a lie told then the applicants were in on the lie. Why didn't they do the right thing without another agent showing up?

They might not have known about it until Dave pointed out it out to them. She said they told the agent.. Most clients expect the agent to record the answers truthfully.. Over the years, I have not had more than a handful of clients that have ever reviewed the answered on the application before signing the app.... most of them were school teachers ..
 
This doesn't add up. She was adamant about the smoker question, yet didn't do a thing about it. Not even a call to the company. It is all the agent. Now she is really interested in getting her money back.

:no:
 
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