What Do You Do to Cover You As$?

Labman · 07-01-2009, 08:41 PM

As a new agent I'm curious what most of you to cover your ass when writing business such as individual health or life?

Do you make any note and files them away? In this day of conducting so much business on the phone or the internet, it seems the door is wide open for someone to say you failed to mention so and so. Or years go by and an occasion rises when they make a claim and filnd out they actually have x type policy when they thought they had something different. or they claim you said the policy did a certain thing which it does not.

Thanks, I'm almost anal about covering all the bases.

bluemarlin08 · 07-01-2009, 08:51 PM

Excellent question! I take notes and dates, I have the client complete the application, I keep a file of illustrations and the policy. Still, things can go sideways, I am currently a player in a situation that was sold in 1991, client didn't follow plan, now the policy is about to blow without a big infusion of cash, I haven't been involved since the sale, another agent became AOR, but the net is being flung very wide, be wary.

Labman · 07-01-2009, 08:59 PM

What kind of notes do you take? That could be very valuable down the road.

Dave020 · 07-01-2009, 09:20 PM

We have help in California now. There is a new law in effect since January that requires an agent attestation be submitted with health insurance (currently) applications in the state.

If you do a fair to large amount through online portals and applications, the attestation forms have a block that you can check indicating that you did not assist the applicant in answering the questions on the application.

Other than than, keep good notes and records.

dgoldenz · 07-01-2009, 11:05 PM

Document, document, and then document some more.

YouGotMyMoney · 07-01-2009, 11:21 PM

Record your webinars and calls.

Labman · 07-02-2009, 06:51 AM

The question I have is, what specifically are you guys documenting? Yesterday a lady asked me during our phone conversation a lot of questions. I could have written a book of notes.

somarco · 07-02-2009, 07:05 AM

http://www.hellodirect.com/hellodirect/Shop?Dsp=30005&PCR=1:1:5:30:310&actn=hdaddtocartba se&keycode=5018NETC&cm_mmc=SEO-_-N/A-_-Hello%20Direct%20>%20Recording-_-N/A

Frank Stastny · 07-02-2009, 07:42 AM

I document every conversation I have with both clients and prospects. The comment box in YIO automatically date/time stamps every entry made.

If ever questioned all I have to do is print out a copy of the person's record. I don't have to rely on memory and the fact that each comment shows the date and time it was entered adds a great deal of credibility.

This has saved my butt on two different occasions. I was recently questioned about events that took place eight years ago. The fact that I had documented records made all the difference.

Norwayguy · 07-02-2009, 11:49 AM

I have recently instituted the digital recording of all appointments. the digital recorder was about $70 directly connects via USB port and I attach the MP3 file to the clients account in act. For Phone conversations I use Ringcentral and if I answer using the call controller on my computer I have the option of turning on recording....This has the annoying beep and it is manual but I can take the yahoo file it creates and attach it to the clients file in Act...The same with Emails...I am moving as much as possible to a paperless office these days. I also notice that when I know I am recording a conversation and the client asks a vague question I spend more time making sure I understand what they are asking and that I am answering the question as asked, the same with emailed questions.

somarco · 07-02-2009, 04:18 PM

Digital recording beats manual transcripts in so many ways you can't count them.

arnguy · 07-02-2009, 04:36 PM

In PA you had better get the permission of the other party to record telephone conversations. For face-to-face you could purchase a "body wire" recording device to surreptitously record the conversation. I believe they are available at establishments called "Spy Shops." I wore one when I was doing undercover work in my days at the IRS when detailled to the Internal Security section of the Inspection Service.

moonlightandmargaritas · 07-02-2009, 04:50 PM

Originally Posted by arnguy

For face-to-face you could purchase a "body wire" recording device to surreptitously record the conversation. I believe they are available at establishments called "Spy Shops."

Is this like what "Big P-ssy" did in the early episodes of The Sopranos?

arnguy · 07-02-2009, 05:10 PM

Paul, believe it or not, I have never watched The Sopranos! I was living in a cave at that time.

Frank Stastny · 07-02-2009, 05:13 PM

Originally Posted by arnguy

In PA you had better get the permission of the other party to record telephone conversations. For face-to-face you could purchase a "body wire" recording device to surreptitously record the conversation. I believe they are available at establishments called "Spy Shops." I wore one when I was doing undercover work in my days at the IRS when detailled to the Internal Security section of the Inspection Service.

In Missouri only one of the two people involved in the conversation needs to know the call is being recorded. That would be me.

GreenSky · 07-02-2009, 05:46 PM

If there was only some sort of turn key computer program that might help with my record keeping. It would make it so much easier on all of us.

Maybe some kind of a contact management program. I'd pay $500 for something that works! Probably just wishful thinking.

Rick

healthagent · 07-02-2009, 06:17 PM

I record all of my presentations through Ring Central. Aside from that the best protection is selling the best top tier plans.

al3 · 07-02-2009, 10:29 PM

For what always seems like a bunch of macho-man, gun-toten', don't f--k with me, right-wing, conservative, let's go huntin', I'm gonna kick yo ass, Republicans, you sure are a bunch of weenies.

Yeah, everyone has heard of someone who has been sued, but my bet is that it's mostly an urban myth. Tell me this. Have any of YOU been sued? Have any of you had to make a claim on your E&O?

Bottom line, if agents were being sued left, right and center, E&O insurance would be a hell of a lot more expensive. My guess is that these stories are circulated by the E&O carriers... similar to how the IRS always circulates a story around April 15th about a high-profile, celeb. tax case.

You folks do what you want, but if I called or or visited your office or sat down with you in my home to talk about my personal finances, medical history, and assets... and you told me you were recording me, I'd walk out or throw your paranoid, insulting ass out.

My take would be that if someone has to record our conversation, they will either sell the data, or they need it to cover their ass because they don't know what they are doing... meaning I don't want to deal with them.

YMMV.

Newby · 07-02-2009, 10:42 PM

Originally Posted by Norwayguy

I have recently instituted the digital recording of all appointments. the digital recorder was about $70 directly connects via USB port and I attach the MP3 file to the clients account in act. For Phone conversations I use Ringcentral and if I answer using the call controller on my computer I have the option of turning on recording....This has the annoying beep and it is manual but I can take the yahoo file it creates and attach it to the clients file in Act...The same with Emails...I am moving as much as possible to a paperless office these days. I also notice that when I know I am recording a conversation and the client asks a vague question I spend more time making sure I understand what they are asking and that I am answering the question as asked, the same with emailed questions.

Hey Peter I use ACT and Ring Central too. If you want to go paperless you need to add Paperport if you don't already have it. Also Fineprint is real usefull too.

CampDynasty · 07-03-2009, 10:46 PM

What exactly is ACT, and where can I find it?