Just Received a Rare Not Taken

[ltcadviser]

Okay, I just received an email from an applicant that ran me ragged since October 11th informing me that he was buying a Country Financial policy instead of the Genworth policy I delivered to him last week.

A few months ago he sent me a list of about 60 questions that must have been copied and pasted on the internet for the past 20 years filed under "What to look for in a long term care policy circa 1994"

Questions like: Is Alzheimer's covered?
Are pre-existing conditions covered?

And of course he insisted I reference the specific page of the policy for the answer to every question.

Against the advice of my closest centers of influence that all advised me to fire him immediately, I answered his questions.

Took hours.

And not surprisingly he is my "not taken" for 2014.

So, please take my advice. If a consumer insists that you spend hours answering 100 questions they deem important that took them about 2 seconds to copy and paste, just respectfully decline and find another client.

 

[Mr_Ed]

Okay, I just received an email from an applicant that ran me ragged since October 11th informing me that he was buying a Country Financial policy instead of the Genworth policy I delivered to him last week.

A few months ago he sent me a list of about 60 questions that must have been copied and pasted on the internet for the past 20 years filed under "What to look for in a long term care policy circa 1994"

Questions like: Is Alzheimer's covered?
Are pre-existing conditions covered?

And of course he insisted I reference the specific page of the policy for the answer to every question.

Against the advice of my closest centers of influence that all advised me to fire him immediately, I answered his questions.

Took hours.

And not surprisingly he is my "not taken" for 2014.

So, please take my advice. If a consumer insists that you spend hours answering 100 questions they deem important that took them about 2 seconds to copy and paste, just respectfully decline and find another client.

or... just insist that you answer the questions over the phone....

OR... copy all the questions and your answers and make a new page on your website... then, next time, you only have to send them to that webpage to read your answers.

 

[yankee466]

Okay, I just received an email from an applicant that ran me ragged since October 11th informing me that he was buying a Country Financial policy instead of the Genworth policy I delivered to him last week.

A few months ago he sent me a list of about 60 questions that must have been copied and pasted on the internet for the past 20 years filed under "What to look for in a long term care policy circa 1994"

Questions like: Is Alzheimer's covered?
Are pre-existing conditions covered?

And of course he insisted I reference the specific page of the policy for the answer to every question.

Against the advice of my closest centers of influence that all advised me to fire him immediately, I answered his questions.

Took hours.

And not surprisingly he is my "not taken" for 2014.

So, please take my advice. If a consumer insists that you spend hours answering 100 questions they deem important that took them about 2 seconds to copy and paste, just respectfully decline and find another client.

I know we all have clients that, while we are in the process of trying to help them, we know in our gut that we are likely wasting our time or they will be more trouble than they are worth for the life of the process. Some people were put on this earth to only be a waste of time to others.....or so it seems.

The only LTC not takens I can recall recently tend to be where the wife gets declined for a "total shock and awe" reason, and then the husband gets ticked off and will walk away from his offer since "if they don't want her, they can't have me either".....and blames it all on the insurance company, and not his wife's lousy medical records..... that they neglected to mention at application time.

I have also learned to tread carefully when someone says their "trusted advisor" wants them to get rates, but their trusted advisor is also insurance licensed.

 

[CALTCAgent]

I have also learned to tread carefully when someone says their "trusted advisor" wants them to get rates, but their trusted advisor is also insurance licensed.

I love that one.


I also love the engineer guy that says bring me all the numbers, compare and contrast everything. My "trusted advisor" is working with me on this.


I have had some "health isuues", although I know my actuarial age. However my PSA's are going up and down, but I don't know the numbers. Oh I also had a liver biopsy, not sure the results though, just had a bad reaction to a medication.


Next!

 

[Charlie456]

I feel your pain. Thanks for the reminder. I pride myself on very few NTO's, but I don't think I've ever had a year with zero... Dare to dream.

 

[NWBenefitProvider]

I'm thinking I may get my first one on my very first try! Wife was declined due to information not disclosed on her application. Her husband was offered a preferred rate. She's mad as hell, but not willing to let me go to bat for her to try and get a reconsideration with notes from her doctor.

He did take it for the 30 day free look, but I'm not convinced he will keep it. This has been a real drag and it doesn't change the fact that regardless of what she does, he still has the need and should keep the policy.

 

[CALTCAgent]

Wife was declined due to information not disclosed on her application.

Just curious, what didn't she disclose?

Her husband was offered a preferred rate. She's mad as hell, but not willing to let me go to bat for her to try and get a reconsideration with notes from her doctor.

This is one of the biggest problems, IMO.

 

[ltcadviser]

I'm thinking I may get my first one on my very first try! Wife was declined due to information not disclosed on her application. Her husband was offered a preferred rate. She's mad as hell, but not willing to let me go to bat for her to try and get a reconsideration with notes from her doctor.

He did take it for the 30 day free look, but I'm not convinced he will keep it. This has been a real drag and it doesn't change the fact that regardless of what she does, he still has the need and should keep the policy.

Yes, let us know what company declined her and for what reason. Underwriting can vary tremendously by company. Don't give up yet. Your client may be perfectly insurable with another underwriter.

 

[MarkForte]

Okay, I just received an email from an applicant that ran me ragged since October 11th informing me that he was buying a Country Financial policy instead of the Genworth policy I delivered to him last week.

A few months ago he sent me a list of about 60 questions that must have been copied and pasted on the internet for the past 20 years filed under "What to look for in a long term care policy circa 1994"

Questions like: Is Alzheimer's covered?
Are pre-existing conditions covered?

And of course he insisted I reference the specific page of the policy for the answer to every question.

Against the advice of my closest centers of influence that all advised me to fire him immediately, I answered his questions.

Took hours.

And not surprisingly he is my "not taken" for 2014.

So, please take my advice. If a consumer insists that you spend hours answering 100 questions they deem important that took them about 2 seconds to copy and paste, just respectfully decline and find another client.

Sounds like a nasty person. What goes around. This person most likely will not purchase and become on of the 50%

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I love that one.


I also love the engineer guy that says bring me all the numbers, compare and contrast everything. My "trusted advisor" is working with me on this.


I have had some "health isuues", although I know my actuarial age. However my PSA's are going up and down, but I don't know the numbers. Oh I also had a liver biopsy, not sure the results though, just had a bad reaction to a medication.


Next!

Tell them to have their trusted advisor get the quotes. Look them in the eye and ask them. If I do all the work and put the time, present you with the top 3 options for your situation. Are you going to place the policy with me

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Yes, let us know what company declined her and for what reason. Underwriting can vary tremendously by company. Don't give up yet. Your client may be perfectly insurable with another underwriter.

Its tough once you have gone through the hoops and the client is turnded down. Pre underwrite first

 

[CALTCAgent]

Tell them to have their trusted advisor get the quotes.

While it might feel good to say, I would word things differently.

I'd be curious how others have this discussion and deal with when a client has a trusted advisor that may be involved.

Can be a very tough situation to overcome.

Look them in the eye and ask them. If I do all the work and put the time, present you with the top 3 options for your situation. Are you going to place the policy with me

They may say, they don't know as they don't know what the options will be yet. Then what do you say?


Many agents spin their wheels only to lose business to "trusted advisors", etc., who then implement the plan.

Its tough once you have gone through the hoops and the client is turnded down. Pre underwrite first

I agree, however, you can't pre-underwrite an unknown. That is the reason for most declines, IMO.