Easiest Way to Transition into new policy

[Bcrane0305]

How do you guys like to replace policies (besides necessary paperwork) Is there ever a time you like to call the previous insurance carrier to let them know of the replacement? How do you guys handle the cancellation of 2 policies to make it 1? Thanks for answers.

 

[Newby]

How do you guys like to replace policies (besides necessary paperwork) Is there ever a time you like to call the previous insurance carrier to let them know of the replacement? How do you guys handle the cancellation of 2 policies to make it 1? Thanks for answers.

Fill out the app. Get them approved at the point of sale. Call the old company or two or three and cancel the bank draft. If there is any cash built up, send a letter for the cash surrender form.

It's not complicated at all.

 

[Bcrane0305]

Fill out the app. Get them approved at the point of sale. Call the old company or two or three and cancel the bank draft. If there is any cash built up, send a letter for the cash surrender form.

It's not complicated at all.

Thanks. So the replacement form does not automatically cancel the policy? I was told they forward the replacement to the previous insurer? Is that right? Thanks. Everytime I seem to call to cancel a policy I am on hold for about 45 mins but when I call sales support it's like 3 mins. Haha. Sounds like they have a delay techniques?

 

[VolAgent]

Thanks. So the replacement form does not automatically cancel the policy? I was told they forward the replacement to the previous insurer? Is that right? Thanks. Everytime I seem to call to cancel a policy I am on hold for about 45 mins but when I call sales support it's like 3 mins. Haha. Sounds like they have a delay techniques?

No one can cancel the policy but the owner, but yes the replacement notice is sent to the other carrier. At least it is supposed to be sent.

 

[Bcrane0305]

No one can cancel the policy but the owner, but yes the replacement notice is sent to the other carrier. At least it is supposed to be sent.

What do you like to do. Thank you! Should I have client on the phone with previous carrier

 

[mmike160]

When replacing a policy, I will hand write a cancellation letter for the client, have them sign/date and fax it to the company when I return to my office.

 

[Bcrane0305]

When replacing a policy, I will hand write a cancellation letter for the client, have them sign/date and fax it to the company when I return to my office.

Good info. Thanks. What fax number do you use? Like new business?

 

[WinoBlues]

Good info. Thanks. What fax number do you use? Like new business?

Usually client services. But it easy enough to call the company and ask them when you get the fax phone number. I also add that they do not want to be contacted by the agent. However, by this point I have poisoned the well so it would be tough for them to get back in.

 

[goillini52]

Usually client services. But it easy enough to call the company and ask them when you get the fax phone number. I also add that they do not want to be contacted by the agent. However, by this point I have poisoned the well so it would be tough for them to get back in.

You poison so many agents that you should wear a warning sign!

 

[Bishop Don Shizzle]

Usually client services. But it easy enough to call the company and ask them when you get the fax phone number. I also add that they do not want to be contacted by the agent. However, by this point I have poisoned the well so it would be tough for them to get back in.

You disparage other agents?

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How do you guys like to replace policies (besides necessary paperwork) Is there ever a time you like to call the previous insurance carrier to let them know of the replacement? How do you guys handle the cancellation of 2 policies to make it 1? Thanks for answers.

Don't you have an Upline?