Some of you guys might remember back in August I wrote a $50,000 policy on a 67 year old man with severe diabetes including amputation of a few toes etc. All around his health was quite bad. I replaced 3 of his existing policies which all were graded with a 2 year wait. HIs new payment was $635.00 per month.
A few guys were suggesting it would cancel or get replaced and it could end up a huge chargeback. Well, I got the letter on Saturday saying he sent in a surrender form. I called the company and they never got a replacement of any kind.
I called the client and it turns out an agent in Arizona replaced it over the phone, with a $25K policy for $332.00 per month. I did a back door kind of call and found out it had a 2 year wait.
In Dec he did call me and want to cut his payment in half so I called the company and they sent him the necessary form to accomplish that. It turns out he never sent it back in.
I just got back from a 2 hour drive to get his surrender form rescinded. We cut it from 50K to 25. I think that is the first time ever I worked FE on a Sunday.
A few guys were suggesting it would cancel or get replaced and it could end up a huge chargeback. Well, I got the letter on Saturday saying he sent in a surrender form. I called the company and they never got a replacement of any kind.
I called the client and it turns out an agent in Arizona replaced it over the phone, with a $25K policy for $332.00 per month. I did a back door kind of call and found out it had a 2 year wait.
In Dec he did call me and want to cut his payment in half so I called the company and they sent him the necessary form to accomplish that. It turns out he never sent it back in.
I just got back from a 2 hour drive to get his surrender form rescinded. We cut it from 50K to 25. I think that is the first time ever I worked FE on a Sunday.