- Staff
- #11
Another Prime Example Of A Sales Person Rather Than An Agent!
- Thread starter jmatos
- Start date
- 1,070
They're the ones that pay the least amount of attention and have the highest lapse ratio.
Arthur Rudnick
Guru
- 1,652
I believe that the Incontestability Period for all life policies is 2 years. A policy can be rescinded (and 100% of premium returned) if the company can prove that there was misrepresentation on the app,or the applicant failed to disclose information that would cause a policy not to be issued or to be rated.
I think that Fraud, is a different matter. If fraud can be proven, there is no time limit as to when a policy can be rescinded. (Fraud is also a criminal offense) A common example of fraud would be if the insurance company found out the beneficiary was bogus and the policy was actually taken out as a life settlement and the beneficiary had no insurable interest to the insured.
I think that Fraud, is a different matter. If fraud can be proven, there is no time limit as to when a policy can be rescinded. (Fraud is also a criminal offense) A common example of fraud would be if the insurance company found out the beneficiary was bogus and the policy was actually taken out as a life settlement and the beneficiary had no insurable interest to the insured.
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- 483
OP/tread starter states this is a PRIME EXAMPLE of a sales person vs an agent....
This sort of of prejudice and bias is sad, especially when held on a forum for professionals.
Based on the information shared why would anybody jump to the conclusion that the AGENT did anything wrong, unless one already resides in a mindset that agents are just out to get folks.
What else about that story, (not adding your prejudice)...just the facts of this story, would justify a reasonable person to assume an agent (I'm sorry SALES PERSON) did something wrong?
Because, of course the insurance company and the client must be the victims of a rogue, commission-seeking, dirty agent, right?
That thought pattern makes me sick, just because ppl make a godd living doesn't make them bad ppl or bad at their jobs.
This condescending attitude toward agents is just ignorance, we don't know if the company is being cheap or if the client lied....
either way how is that a PRIME EXAMPLE of anything other than your bias against agents?
Btw in California, licenses are bestowed by the state for the purpose of allowing "the licensee to transact insurance coverage" transact meaning, sales transaction ie selling insurance coverage , so for the misinformed being a sales person is being an agent.
Taking state exams confuses some folks into thinking they are somehow NOT a sales agent and have become an insurance social worker of some sort....you are NOT licensed to be a non profit.
From the facts presented, we have no reason to believe that the licensed writing agent did anything but honorably perform his/her duty, period.
Until, otherwise folks should STFU about my profession and I'm damn PROUD to a prime example of a insurance sales agent.
This sort of of prejudice and bias is sad, especially when held on a forum for professionals.
Based on the information shared why would anybody jump to the conclusion that the AGENT did anything wrong, unless one already resides in a mindset that agents are just out to get folks.
What else about that story, (not adding your prejudice)...just the facts of this story, would justify a reasonable person to assume an agent (I'm sorry SALES PERSON) did something wrong?
Because, of course the insurance company and the client must be the victims of a rogue, commission-seeking, dirty agent, right?
That thought pattern makes me sick, just because ppl make a godd living doesn't make them bad ppl or bad at their jobs.
This condescending attitude toward agents is just ignorance, we don't know if the company is being cheap or if the client lied....
either way how is that a PRIME EXAMPLE of anything other than your bias against agents?
Btw in California, licenses are bestowed by the state for the purpose of allowing "the licensee to transact insurance coverage" transact meaning, sales transaction ie selling insurance coverage , so for the misinformed being a sales person is being an agent.
Taking state exams confuses some folks into thinking they are somehow NOT a sales agent and have become an insurance social worker of some sort....you are NOT licensed to be a non profit.
From the facts presented, we have no reason to believe that the licensed writing agent did anything but honorably perform his/her duty, period.
Until, otherwise folks should STFU about my profession and I'm damn PROUD to a prime example of a insurance sales agent.
- 16,916
I love how the female reporter who speaks over the video says they were making payments to a local funeral home (wrong). Reporters get this wrong all the time. They always confuse funeral preplanning and final expense life insurance in these stories.
Bankers Life does NOT offer any funeral Preneed insurance. Even if it was a RARE funeral home that sold FE insurance they wouldn't sell Bankers Life because Bankers is captive.
It's just an incorrect news report.
Bankers Life does NOT offer any funeral Preneed insurance. Even if it was a RARE funeral home that sold FE insurance they wouldn't sell Bankers Life because Bankers is captive.
It's just an incorrect news report.
Arthur Rudnick
Guru
- 1,652
I went back and reviewed the original post. It starts off like this:
That must have passed me by and upon looking at those 2 sentences for a 2nd time, I'm a little disturbed by that statement and by what it implies.
I was always under the impression that it was specifically an agent's job to educate and inform the prospect.
Am I missing something here?
That must have passed me by and upon looking at those 2 sentences for a 2nd time, I'm a little disturbed by that statement and by what it implies.
I was always under the impression that it was specifically an agent's job to educate and inform the prospect.
Am I missing something here?
- 15,041
So here is a question that goes back to jmatos second post.
How many people inform applicants of the contestability clause if they haven't already brought it up?
How many people inform applicants of the contestability clause if they haven't already brought it up?
If someone asks about the contestability clause, isn't that a huge red flag? I understand it can be an innocent question, so it would have to be taken in context, but somebody basically asking 'how long till I can't be held accountable for my lie?' should be a flag to probe a bit deeper for any agent.
Remember, the contestability clause only comes into play (usually) when a person isn't truthful on the application (or suicide). I think its more important to make sure the app is accurate.
Yeah, it's important to mention the contestability clause, but only in the sense of if they are lying on the application.
Dan
Remember, the contestability clause only comes into play (usually) when a person isn't truthful on the application (or suicide). I think its more important to make sure the app is accurate.
Yeah, it's important to mention the contestability clause, but only in the sense of if they are lying on the application.
Dan
- 25,055
It seems to come up more in regard to someone's experience with a Graded or Modified policy. As in " Aunt had a policy on her husband that did not pay" Mostly in FE for me.
I did have a client with $750,000 in force ask me about it when I was quoting him another $1,000,000. He decided not to buy it. Less than a week later he ate his gun.
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