A Little Vent About Getting Out of this Biz

[Splendor]

I mostly lurk so please don't pay any mind to my posting history. I also read the inbox emails daily which contain a lot of valuable information/conversations.

I work with very poor people who probably need some form of life insurance the most. Well the last two clients were really difficult. One was 28 and had a driving record of a 70 year old with a dozen DUI's...the other had her license revoked. No one would touch them. I am embarrassed I was unable to help them yet angry that they put themselves in this situation. The one with the revoked license drives every day...I see her at my day job and was actually shocked when she first rolled up in her van. I have since gotten used to it. I asked her to fix her driving situation and she wanted to know why was that important. The other one got all upset when I told her her driving record was hurting our efforts. She told me that was just stupid even after I explained the risks of her behavior. She then went on to say she'll go online and get a little policy which I'm not sure if even that will work at this point. I'd really like her to get coverage b/c she's a single mom of six small kids.

I just question if this is really for me. I have been selling life insurance part-time for three years now and honestly the type of people I get take a long time to find an agency "fit"...

I also work with an experienced agent with over 25 years experience and even he was unable to help me with these two.

Can anyone else relate? What do you do in these situations? Should I just forget about these two and move on? I feel like a failure at this point even though I know deep down it's not my fault. It really has me wanting to throw in the towel.

 

[YouGotMyMoney]

Those people are deadbeat gutter trash who should be drafted and shipped off as cannon fodder, don't lose any sleep over them.

 

[DHK]

This is going to sound blunt... but you don't understand your job and your role.

Your job is to be a field underwriter... to help the insurance companies you are appointed for, to select acceptable risks (as outlined in their field underwriting guides) to be insured.

Those that fall outside the risk parameters... won't be covered.

It's not YOUR fault... it's THEIR fault.

Even if it's a cancer-related thing... it's not YOUR fault. It might not be THEIR fault... but it's not YOUR fault.


It's like being in management and managing employees.

Employees with unacceptable behavior are written up and given written warnings before they are fired.

But did YOU fire them? No. Their behavior fired them for you.


As far as the one going online to get a policy... let them. It won't be on you and your license. And when death comes, if they didn't disclose everything, there will only be a refund of premiums instead of a payment of proceeds.


Why are you working with "very poor people"?

 

[Jerard]

I agree. You should not spend more than 30 minutes on people like this before moving on to someone else.

Edit: Yea... what he said too. ^ ^

 

[rousemark]

You most likely would be wasting your time even if you place them. Somebody as irresponsible as those two probably will not be responsible enough to pay the premiums to keep life insurance in force.

 

[Splendor]

This is going to sound blunt... but you don't understand your job and your role.

Your job is to be a field underwriter... to help the insurance companies you are appointed for, to select acceptable risks (as outlined in their field underwriting guides) to be insured.

Those that fall outside the risk parameters... won't be covered.

It's not YOUR fault... it's THEIR fault.

Even if it's a cancer-related thing... it's not YOUR fault. It might not be THEIR fault... but it's not YOUR fault.


It's like being in management and managing employees.

Employees with unacceptable behavior are written up and given written warnings before they are fired.

But did YOU fire them? No. Their behavior fired them for you.


As far as the one going online to get a policy... let them. It won't be on you and your license. And when death comes, if they didn't disclose everything, there will only be a refund of premiums instead of a payment of proceeds.


Why are you working with "very poor people"?

They make between $800-1200.00 month and I base that on family size so technically I suppose they aren't very poor but lower income category.

The reason why I help this population is because I see situations time again where they have to throw car wash parties and suppers to bury their dead so I felt a need to help people like this with small affordable policies in the $50-$75,000 range.

That may seem naive but that's where my heart is/was.

Also the comments expressed are true. My position as underwriter is to protect the agency however sometimes I see where a behavior can be modified (quit smoking for a year then call me) and I try to help the client out. Maybe this has to do with my Human Services background but I try to help the clients so they will benefit long term.

Thanks for all of your feedback and I can tell I have spent far too long on these clients.

 

[DHK]

They make between $800-1200.00 month and I base that on family size so technically I suppose they aren't very poor but lower income category.

The reason why I help this population is because I see situations time again where they have to throw car wash parties and suppers to bury their dead so I felt a need to help people like this with small affordable policies in the $50-$75,000 range.

That may seem naive but that's where my heart is/was.

That's okay... but just remember, this is BUSINESS. This is not being a social worker.

Also the comments expressed are true. My position as underwriter is to protect the agency however sometimes I see where a behavior can be modified (quit smoking for a year then call me) and I try to help the client out. Maybe this has to do with my Human Services background but I try to help the clients so they will benefit long term.

Thanks for all of your feedback and I can tell I have spent far too long on these clients.

Repeat after me: People don't change.

People are not going to lose weight in order to use a different notch on their belt. People are not going to stop smoking in order to save some money on their insurance.

Help them get coverage "as they are now"... NOT based on how to get the cheapest rates.

YOU ARE ACTUALLY DOING A DISSERVICE IF YOU ARE WAITING FOR PEOPLE TO CHANGE THEIR HABITS BEFORE APPLYING FOR COVERAGE!!!

Give them approximate pricing based on their tobacco, height, weight, and current prescriptions.

It's not your job to make people change their lives in order to save a couple of bucks on their coverage.

If their parents can't get them to do it...
and their spouse can't get them to do it...
and their kids can't get them to do it...
and their doctors can't get them to do it...

what makes you think YOU can get them to do it???

 

[scagnt83]

They make between $800-1200.00 month and I base that on family size so technically I suppose they aren't very poor but lower income category.

That is very poor.... very very poor... with 6 kids that is dirt poor.

Sorry to be harsh, but there is a reason she has 6 kids and is single and only makes that much... it is called being irresponsible. Insurance is bought by people who are responsible, not people like her.

Adjust your clientele and your results will adjust along with it. You cant fix stupid. Do you think she doesnt know she should fix her license situation? Do you think smokers do not know they should quit? You cant force people to do the right thing. But if you want to make money in this business you have to find people who are already doing the right things and want to continue to do the right thing.

 

[Davidkpa]

I'm newly minted, but I've been a lawyer for over five years. Let me tell you something. Don't waste your time on poor people. While there are many good and noble people down on their luck because of the economy, disease, or unexpected injury, or some combination thereof, there are also lots who aren't.

These people will suck you in and suck away your time and money. And time in most industries means money. Move on, find more prospects, and keep it going.

I've found that as a lawyer, I make more money working only eighty hours a month only catering to people with money, than when I worked two hundred hours a month trying to work with everybody. Your time is precious, move on to prospects with money.

 

[Norwayguy]

They make between $800-1200.00 month and I base that on family size so technically I suppose they aren't very poor but lower income category.

The reason why I help this population is because I see situations time again where they have to throw car wash parties and suppers to bury their dead so I felt a need to help people like this with small affordable policies in the $50-$75,000 range.

That may seem naive but that's where my heart is/was.

Also the comments expressed are true. My position as underwriter is to protect the agency however sometimes I see where a behavior can be modified (quit smoking for a year then call me) and I try to help the client out. Maybe this has to do with my Human Services background but I try to help the clients so they will benefit long term.

Thanks for all of your feedback and I can tell I have spent far too long on these clients.

Holy crap 800-1200 a month with six kids I have 3 kids and can't imagine living on twice that a month.