Kick Backs and Indian Culture?

[lifeinsuranceguytx]

yeah... I mean I don't mind doing business with people who do business with me... As in he owns a liquor store. I'll buy some wine or something from you.
I'll make you my regular place to buy wine for my clients which I do sometimes BUT there is no way in hell I can negotiate a I'll give you $1,000
for doing business with me. It's just not worth the risk and it feels dirty!!!!

AND LOL actually he does own a hotel.

 

[LifeWorth]

You know what happens when you ASSUME?

I doubt the suspect has a clue about all this. He simply knows what the other agent offered and it may well be with another carrier.

Also, there may not even be another agent. The suspect may just be fishing and seeing what he can get. No telling.

Note, I do call him a suspect and not a client, he hasn't bought squat from the OP and has thrown up roadblocks instead.

It annoys me to no end when someone calls a random person that has barely even spoken to me about insurance a "client". I get it from my upline all the time.

"How did the appointment with the client go?"

"We have a walk-in. See what you can sell this client".

"Client has chosen to go not taken with the policy".

Good to know anyone that slightly looks our way is considered a client by my upline.

 

[DHK]

Your "upline" should read the OCS textbook.

Suspect = "someone that looks your way" - a name and little else.

Prospect = someone who has expressed interest in your services.

Customer = someone who has bought at least one time from you.

Client = someone who has bought multiple times from you.

Advocate = someone who has bought multiple times from you and professionally/personally introduces you to others like them on a regular basis.


However, as you build your book, I'd call them by variations of "A" clients. No one wants to be thought of as a "B" client or lower. Everyone is an "A" client... or better, such as "AA", "AAA", and so on. This way, you can always say that they are one of your "top A clients".

 

[briko3]

It annoys me to no end when someone calls a random person that has barely even spoken to me about insurance a "client". I get it from my upline all the time.

"How did the appointment with the client go?"

"We have a walk-in. See what you can sell this client".

"Client has chosen to go not taken with the policy".

Good to know anyone that slightly looks our way is considered a client by my upline.

That's because most people don't like to think of themselves as sales people and it makes them feel more "professional" to think of everyone as clients. Those people have a hard time becoming successful.

 

[rousemark]

So I just came here to vent and talk crap basically....

Today I went to see a client well potential client
who got approved pref plus for a $1,000,000 policy with Banner.
The annual premium is $10,500. The client wants to pay annually.

I walk in and show him the quote and this son of a gun tells me
his other agent will give him $500 or more out of the commission
and it's a discount. I responded "that's illegal". He says well
whether it's illegal or legal he's an indian guy like me and he
understands the game you have to play. I told him to think about
the offer from Banner and let me know. I shook his hand and walked
out. Any advice? Or anyone would like to rant with me here.
I'm pissed that he even asked me that.

As I shook his hand to leave I would have said, "Just keep in mind, an agent that will violate the law and lie to his company will lie to you." Might not change anything but it plants a seed of doubt in his mind.

 

[lifeinsuranceguytx]

I essentially did. I drove back over there that night because my wife said she wanted to have a drink together so I went there and bought a small bottle of
$18 crown royal. I then told him this... "I said if a 15 year old walked in here and asked to buy liquor would you sell it them?" He says "no" I said "why not?" He says " I could lose my liquor license." "I said so why did you ask me to do something that could make me lose my license?"
I then proceeded to tell him...I don't mind being your customer as shown here today by me buying this crown royal. I try to do business with those who do business with me and I want your business but I cannot and will not give you money from my commission to pay you to do business with me. I won't even do business with you an part of the agreement of you doing business with me BUT I will do business with you because I like doing business with clients of mine. I said I may throw a Christmas party for clients and need a whole bunch of wine or something like that and I can use you or any other liquor store for that sort of thing. I then said let me leave you with this..
Let's say you had brain cancer and you went to the surgeon and he said
I'm a pretty good surgeon and if you'll let me operate on you after you pay
me $100,000 I will give you back $20,000 and the other surgeon said I am the best surgeon around you will pay me $120,000 to operate on you and I can't give any of that back to you BUT I am going to do my very best to save your life. Then I asked him which surgeon he would choose. He said the one that would save my life. I said Well I am that surgeon. If you die I will personally bring a check to your wife for $1,000,000 not only that I will make sure that your wishes are followed to the best of my ability and try to assist in making your family survive in your absence -through proper planning and investing etc. So you think about that and let me know. He said well my other guy will do the same. I said your other guy will probably be out of the business with no license by the time you pass away. I am in the business for the long haul so you think about it...and I left...

 

[pfg1]

Nice work.

Not sure what it is about the indian culture that makes them feel like they absolutely have to have the best deal, or shake you down for more. I dealt with that when I was doing mortgages. They would try to beat you down even if you were giving them the best possible deal. I fired many of them, it gets old after a while. I have a couple friends that are indian... they do it too, but can't really tell me why. LOL

 

[pcbinsurance]

They are very shrewd businessmen. Call it cheap if you want, but they are typically loaded.

 

[VolAgent]

They are very shrewd businessmen. Call it cheap if you want, but they are typically loaded.

As I said earlier, it is one thing to ask. It is another to insist once you know it is illegal.

Kickbacks, rebates, etc. are rather common in a lot of sales arenas. But it is illegal in insurance in most states. Asking isn't a problem, insisting once he knows it is illegal is another.

 

[Rich Eddy]

As I said earlier, it is one thing to ask. It is another to insist once you know it is illegal.

Kickbacks, rebates, etc. are rather common in a lot of sales arenas. But it is illegal in insurance in most states. Asking isn't a problem, insisting once he knows it is illegal is another.

I think in California is is actually legal (something about Prop 103), but insurance carriers will drop your contract like a hot potato if they find out you are doing it.