Expensive Med Supp and FE Policies

[G.Gordon]

I love the "friend of the family" claims. I write on a post-it the monthly premium they are over paying. Then I tell them to tell the friend they owe them that much every month since they are having to overpay that much every month for that "friendly business" relation.

Hasn't won me any sales, but sure makes the point sink in.

 

[senior-advisor-indiana]

I love the "friend of the family" claims. I write on a post-it the monthly premium they are over paying. Then I tell them to tell the friend they owe them that much every month since they are having to overpay that much every month for that "friendly business" relation.

Hasn't won me any sales, but sure makes the point sink in.

I usually try to talk good about other agents when I am speaking with their clients but the next time I run into this situation I will be brutally honest with them.

 

[G.Gordon]

It's like I told my CPA this year when I got the bill from the firm she moved to. Too high dollar for me. I flat out told her, "We may be neighbors and friends, but that does not require me to do business with you. I don't ask or expect friends and family to do business with me because of that relationship, nor do I extend such considerations."

The bill was reduced.

We're still friends, but I doubt she'll be my CPA this season.

 

[GAJ638]

Wow! You guys must have some super SLICK Bankers Life agents in your areas.

Around here Bankers Life just has a bunch of misfits and they are VERY easy to replace.

The Bankers in this area never recovered after their sales manager and all their agents jumped ship (along with their client lists) and started another agency.

They operate more like how you are describing but I have not seen any customer buy in to the BS like you are describing. Their clients seem happy to get away from them and definitely recognize the BS as BS.

Newby are you in NC? My experience with Bankers when I run into their policies is that I can easily replace them. A few years ago one of the Managers left and moved to GAF...along with all the BL client lists. I think Bankers sued him and a few others. I heard hew was selling the names to his agents as leeds.

 

[Newby]

Newby are you in NC? My experience with Bankers when I run into their policies is that I can easily replace them. A few years ago one of the Managers left and moved to GAF...along with all the BL client lists. I think Bankers sued him and a few others. I heard hew was selling the names to his agents as leeds.

I'm not in NC but that sounds exactly like what happened here. Maybe it was a national mutiny of Bankers Life.

 

[GAJ638]

I'm not in NC but that sounds exactly like what happened here. Maybe it was a national mutiny of Bankers Life.

Aww Ethics, ain't it a wonderful thing! If you check there was a TV expose about the training with BL in Charlotte,NC.
Some guy left BL and had downloaded all the clients in NC. Moved to GAF and was kicking butt in sales.......for a while. Seems Bankers got "ethical" and sued him big time. Not sure of the results.

 

[KJ in Miami]

Frank, you are a good guy but in Florida MoO is one of those carriers who do that. Who do you write with here?

I can tell you that I have made a lot of money over the last eighteen years from agents who do that.

I count on those agents being out there, I should actually be encouraging them to do so. When I talk to one of their clients they become mine.

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In Florida, Bankers is writing with Colonial Penn now!!

United American & Bankers Life. Biggest ripoff in the insurance industry. if not for the issue age, ACH partners and dental/vision BS, they would have nothing to justify their insane rates (and we know none of that justifies their ripoff rates)

 

[gmcarter]

Frank, you are a good guy but in Florida MoO is one of those carriers who do that. Who do you write with here?


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In Florida, Bankers is writing with Colonial Penn now!!

Colonial Penn and Bankers are both owned by Conseco I believe. I worked with Bankers years ago, and CP was introduced as their low end marketing tool. They were almost cultlike in their training, and I only stayed with them about 9 months. I couldn't take it.

 

[KJ in Miami]

Funny - stayed with them about six months - their Conseco rating went to D and I left!!

It was a good place to start and learn about the Senior Market - especially now with the Baby Boomers now coming of age!!

Colonial Penn and Bankers are both owned by Conseco I believe. I worked with Bankers years ago, and CP was introduced as their low end marketing tool. They were almost cultlike in their training, and I only stayed with them about 9 months. I couldn't take it.