Term Life Policy Servicing

[bill3173]

Just curious if anybody else feels a little ripped off by the life carriers on the free service work on term policies. You don't notice it the first year or so, but when you're getting called for COB, COA, etc. every couple of years for a policy that you got paid $400 on 7 years ago, it gets to be annoying, or maybe I'm wrong to get tired of all the free work..the almost free health insurance job doesn't help.

Here's a funny one..had this guy that I wrote a policy on before Obama was pres..he calls in a cob, coa every couple of years. The last one he called in about two months ago, COA and phone number changed. I didn't submit it to the carrier, because I thought it would be temp, so he didn't disappoint me. He calls me back 6 weeks later with a new number, and address. This shitt never ends.

 

[WinoBlues]

Just curious if anybody else feels a little ripped off by the life carriers on the free service work on term policies. You don't notice it the first year or so, but when you're getting called for COB, COA, etc. every couple of years for a policy that you got paid $400 on 7 years ago, it gets to be annoying, or maybe I'm wrong to get tired of all the free work..the almost free health insurance job doesn't help.

Here's a funny one..had this guy that I wrote a policy on before Obama was pres..he calls in a cob, coa every couple of years. The last one he called in about two months ago, COA and phone number changed. I didn't submit it to the carrier, because I thought it would be temp, so he didn't disappoint me. He calls me back 6 weeks later with a new number, and address. This shitt never ends.

Refer them to me. Just give me an AOR. Wino blues at Gmail. Com. I gladly AOR term regularly.

Oh and yeah, I got a couple clients that change banks what seems like monthly. PITA

 

[Bigdogguy]

Give them the link to set up online access with the company so they can monitor their account themselves.

 

[bill3173]

Refer them to me. Just give me an AOR. Wino blues at Gmail. Com. I gladly AOR term regularly.

You must be a masochist..you would get nothing out of it.

 

[WinoBlues]

You must be a masochist..you would get nothing out of it.

I am sure you are correct. I have been getting nothing from term and term orphans for a long time. I have got 5 to quote this week. All my clients. Every one of them had insurance with somebody else before I wrote them the first time.

Offer stands, send me your 13+ month BoB and you will never hear from them again. Every one of them will get a call, email and a letter with my contact information and several reasons for them to call me.

Term is inventory.

WinoBlues at gmail

I really appreciate it, thanks.

 

[bill3173]

I am sure you are correct. I have been getting nothing from term and term orphans for a long time. I have got 5 to quote this week. All my clients. Every one of them had insurance with somebody else before I wrote them the first time.

Offer stands, send me your 13+ month BoB and you will never hear from them again. Every one of them will get a call, email and a letter with my contact information and several reasons for them to call me.

Term is inventory.

WinoBlues at gmail

I really appreciate it, thanks.

I am familiar with orphans. I have read Oliver Twist and Of Human Bondage, just to name a couple of books that delve into this subject.

Sometimes an orphan policy holder can be a good client, other times not. If you think you know more about this than I do, enjoy it.

Term is terminal.

I left out Cider House Rules, another excellent (and more recent) book and movie, which detail the challenges and heart ache of dealing with orphans.

 

[LostDollar]

If you think you know more about this than I do, enjoy it.

The value of the forums comes from a variety of experience, knowledge and skillsets being brought together.

 

[WinoBlues]

I am familiar with orphans. I have read Oliver Twist and Of Human Bondage, just to name a couple of books that delve into this subject.

Sometimes an orphan policy holder can be a good client, other times not. If you think you know more about this than I do, enjoy it.

Term is terminal.

Not saying I know more about orphan policies than anyone. I have worked hundreds of them though. But my experience is my own. Just different options and methods. I prefer to write people who believe in and own insurance. Could be that I am to lazy or lack the skill set to sell. I much prefer in bound calls.

Again, just different methods. To your original post. My term clients are far less service work than my FE clients. It is normally me contacting them not them contacting me. Many times by snail mail. Old school prospecting for an old guy.

My favorite service calls are change to Beneficiary. A decent percentage of those lead to a new client thread.

Have a good one.

 

[bobson]

Refer them to me. Just give me an AOR. Wino blues at Gmail. Com. I gladly AOR term regularly.

Oh and yeah, I got a couple clients that change banks what seems like monthly. PITA

Can you send me a copy of that letter and e-mail?

 

[gambrinus]

Can you send me a copy of that letter and e-mail?

Ummm me too. Share the wisdom oh wise one. Would love to see a high converting marketing piece to get term policies over to perm.