Another Agent Promised to Pay 1st Payment

[johnshawareb]

I went to an appointment after another agent had been there.
They ended up buying a cheaper plan with me and called the guy while I was still there and cancelled the policy.
At the end of the close they asked me if I was also going to personally pay their first payment. I asked them to clarify what they meant.
I found out the other agent promised to pay over one hundred dollars towards there first payment. I looked at the clients with a
shocked face and said that I couldn't do that because I would lose my license. Is any one doing this and isn't illegal?

 

[Cyborg7]

Why aren't you paying their first payment?

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LOL just kidding

The two key questions

How fat are they & What are they getting their disability for ..? Bad back or BiPolar ??

 

[Norwayguy]

Just think if they free look that other agents policy they get to keep the premium and he eats a chargeback.

 

[Cyborg7]

The two key questions

How fat are they & What are they getting their disability for ..? Depression or Fibro?

 

[johnshawareb]

Just think if they free look that other agents policy they get to keep the premium and he eats a chargeback.

Well, that would teach him a lesson. He must of not thought it through. LOL

 

[Newby]

I went to an appointment after another agent had been there. They ended up buying a cheaper plan with me and called the guy while I was still there and cancelled the policy. At the end of the close they asked me if I was also going to personally pay their first payment. I asked them to clarify what they meant. I found out the other agent promised to pay over one hundred dollars towards there first payment. I looked at the clients with a shocked face and said that I couldn't do that because I would lose my license. Is any one doing this and isn't illegal?

I's heard of whole agencies teaching agents to do this as a Hail Mary. It's the most pathetic loser close an agent could do.

You should definitely make sure the family gets the money back and keeps it. I would probably call the company with the family and ask the how it should be handled. Play real stupid.

Yes, I'm with Jimmy and Betty Smith who are on the 30-day free look with your company. They have decided not to keep the policies because they have found a better price with XYZ. They need you to cancel as of today. Am I correct in assuming that you will mail a refund check directly to them and made out to them and they should NOT pay this money to the agent? They were confused because he paid their first premiums for them but I explained that you guys must have had some kind of promotion for that and that is their money to keep, not the agent's. Is that right?

 

[rousemark]

I went to an appointment after another agent had been there.
They ended up buying a cheaper plan with me and called the guy while I was still there and cancelled the policy.
At the end of the close they asked me if I was also going to personally pay their first payment. I asked them to clarify what they meant.
I found out the other agent promised to pay over one hundred dollars towards there first payment. I looked at the clients with a
shocked face and said that I couldn't do that because I would lose my license. Is any one doing this and isn't illegal?

My comment to the client would be. "Mr. and Mrs. Smith. That is against the law. If and an agent would break the law and lie to his company, he will certainly lie to you. I don't know about you, but I prefer to do business with people I can trust."

BTW, In some states rebating is legal as long as you do not do it on a selective basis. If you were in one of those states and paid the first premium for everybody, it would not be illegal but I doubt any comapny would approve of the practice.

 

[VolAgent]

BTW, In some states rebating is legal as long as you do not do it on a selective basis. If you were in one of those states and paid the first premium for everybody, it would not be illegal but I doubt any comapny would approve of the practice.

I feel pretty confident in saying the company would go ballistic if they found out.

Other than a loser close, there is another reason to do it. Advances, you pay one premium and the company sends you commission for 6 or 9 months. The agents that would do this are also the agents that would stick the company with a huge debt balance.