Helping a Client Stop Payment

[billyb]

I don't replace much, but if I can better the persons coverage I will. Ran across several newly issued Transamerica policies the last few weeks and walked, but if it is a policy from an overpriced company I will replace it.
When I do replace I usually hand write a note for the insured and have them sign it. Got a call from a lady today saying she got a letter from this certain company that said another agent can't help her cancel her policy. Stopped by to see her and she then called them and cancelled. Is it illegal for me to write the note?

 

[Baseball7]

Nope, its a LH scare letter they send everyone. Most don't pay that letter any mind but I'm sure it helps them save a few cases.

 

[bboman23]

I don't replace much, but if I can better the persons coverage I will. Ran across several newly issued Transamerica policies the last few weeks and walked, but if it is a policy from an overpriced company I will replace it.
When I do replace I usually hand write a note for the insured and have them sign it. Got a call from a lady today saying she got a letter from this certain company that said another agent can't help her cancel her policy. Stopped by to see her and she then called them and cancelled. Is it illegal for me to write the note?

They won't know an agent wrote the letter as long as you are not signing it. I recommend always calling and STOPPING the BANK DRAFT while you are there. I only send a letter if there is cash value to get, and even then i still call and stop the bank draft first...

 

[HoosierLife]

I have a pre-filled hand-written sheet with blanks for the client's name, policy number, DOB and last 4 of SS.

It asks to be taken off the draft and at the bottom it says "No calls or visits from any representative from your company. Please take me off your calling list."

If it's a cash surrender or RPU, I will just write in at the bottom that they are requesting the paperwork for the CV surrender or RPU.

Then I fax it into the carrier. I don't like to call. It takes time and they will send you to the client retention department many times.

The only companies that have not honored the fax are Primerica, American Income Life and United insurance. Go figure.

 

[VolAgent]

Turn it into a positive.

If they make it this difficult for you while you are alive, what will be the experience of your beneficiary once you are gone?

 

[jdeasy]

Turn it into a positive.

If they make it this difficult for you while you are alive, what will be the experience of your beneficiary once you are gone?

Yep, I've never understood the rationale behind being rude to your client when they are looking at a change. Columbian Life make the replacement so much easier when they refuse to talk to the person with an agent present.

If they were wavering the attitude of the CSR seals the deal. AIL is very bad about that and helps us too.

LH may be the worst. I had a case with them a few years ago. There was a lady that I had placed with LH back when I wrote them. I had never tried to replace it nor did she want to replace it.

2 or 3 years ago she called me about having trouble with getting a loan from her LH policy. Said she needed to borrow about $250 for a car repair and just couldn't understand what they were asking her. I was going to be in her town the next day anyway so I volunteered to stop by and help her call LH and get that loan processed.

Called on speaker. I told them who I was, who I was with and what she wanted. I don't know if this CSR didn't know he was on speaker but he went berserk. Asked what I was doing there and said that I had no business being there with their client as I wasn't contracted with them anymore. Just ranting!

The lady spoke up then and said, "I asked him to be here to help me". You could have heard a pin drop. He was so apologetic after that and asked her, "what can we do for you?". She was blood red and said, "not a damn thing!!". Then told me to hang up on them.

Then she said, "I know you have other companies, what can you do to get me away from them?". I wrote her RNA to replace the LH. She got more coverage for what she was paying and she got all her cash from LH and didn't have to be concerned with a loan.

Had that guy not acted that way I'm sure that lady would still be with LH today.

 

[FinalExpenseDojo.com]

I have a pre-filled hand-written sheet with blanks for the client's name, policy number, DOB and last 4 of SS.

It asks to be taken off the draft and at the bottom it says "No calls or visits from any representative from your company. Please take me off your calling list."

If it's a cash surrender or RPU, I will just write in at the bottom that they are requesting the paperwork for the CV surrender or RPU.

Then I fax it into the carrier. I don't like to call. It takes time and they will send you to the client retention department many times.

The only companies that have not honored the fax are Primerica, American Income Life and United insurance. Go figure.

Add Allstate to the list. They don't accept any Cancelation forms unless at an official Allstate form.

 

[TPAAgent]

Do you guys really go through all that? It takes 2 seconds at the table- have your clients call their carrier and ask to be taken off bank draft and to have them send them a bill- fill out the replacement form and tell them they're covered for another 45 days and that you'll call them in 3-4 days once they get approved- once they do- tell them when they get the bill to just toss it in the trash.. of course unless they have CV, then ya gotta kinda have them ask one be sent to them and ya might have to go out and help them fill it out-

 

[HoosierDaddy]

I have a pre-filled hand-written sheet with blanks for the client's name, policy number, DOB and last 4 of SS.

It asks to be taken off the draft and at the bottom it says "No calls or visits from any representative from your company. Please take me off your calling list."

If it's a cash surrender or RPU, I will just write in at the bottom that they are requesting the paperwork for the CV surrender or RPU.

Then I fax it into the carrier. I don't like to call. It takes time and they will send you to the client retention department many times.

The only companies that have not honored the fax are Primerica, American Income Life and United insurance. Go figure.

I see your FEX Contracting education is still the gold standard here.

 

[Baseball7]

JD in LH's defense they have the softest CSR to get info from.