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You did notice where a few people have told you that GPM isn't going to let you just send them bad business, right?
You are going to have to send them probably 2/1 to keep everything kosher.
GPM Secure Mark 4
- Thread starter indiana260
- Start date
You did notice where a few people have told you that GPM isn't going to let you just send them bad business, right?
You are going to have to send them probably 2/1 to keep everything kosher.
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Would they just start rejecting business or would they at least warn you once the ratio is not what they want?
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I was told they would cancel your contract. I was lead to believe their problem isn't the guy who is a little heavy on graded business, but the guy who is almost entirely graded business.
No one is going to let you have a book of only bad business.
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Yep, I never said only send them bad biz. Although if they would let me, I would, lol. But their level plan is priced really well... It's that stupid PHI a day or 2 later I don't like.
Yes, rates are great. The PHI musn't be too terrible. I've had a few that I would have almost bet that they would have screwed up the PHI, or never taken the call to begin with. Not so, they passed with flying colors, and I was surprised.
Some clients you just can't hardly place with them if they aren't the brightest and would surely screw up the PHI call. For them you just have another carrier in your pocket with no interview. I'd much prefer the PHI be on the spot but from their standpoint I can understand the move as it gives them a chance to assess the risk in a different manner.
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Yep this is the most annoying part of GPM and they will withdraw your sale faster than any other company I've worked with.
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Yep this is the most annoying part of GPM and they will withdraw your sale faster than any other company I've worked with.
I haven't paid a lot of attention to GPM. Sounds like they have some positive underwriting features but that system for a phone interview sounds like the most deal-killing method that could ever be dreamed up.
It might be good on the cancer cases or a few niches but the risk of losing your healthy cases from all that phone tag is too great of a risk.
1. If they have the slightest case of 2nd thoughts about buying the policy, all they need to do is not answer the phone
2. If they really are just hard to reach it can lapse the application
3. It gives JD and 50 other agents several days of opportunity to slip right in there behind me and close their own case before mine is closed.
4. The clients don't always understand the questions are only looking back a certain time frame and will simply answer yes because they had that cancer 8-years ago. The more hours that pass from when you explain it to them and the phone interview, the more confused they get.
5. Their misguided friends, relatives, TV ads, mail advertisements and everything else they see and hear during that 48-hours that they have between the app and the phone interview will all make them doubt their decision even more.
GPM needs to fix that way of doing things before I would consider ever using them on any case that could possibly go elsewhere. It's a bad system for the agent which also makes it a terrible system for the company. No agent in their right mind would use them as their main FE company. So that makes them ripe for getting a higher majority of bad health cases which is exactly what they shouldn't want.
That one detail in how they do business ruins their whole product. At least that's my opinion from outside looking in. I haven't looked at them in great detail. Too many other good choices out there.
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Yup -- I second that, Newby.
It sounds good for the client, bad for the highly-productive agent.
It sounds good for the client, bad for the highly-productive agent.
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I am not sure that all GI is "bad business", and I also think we could run down most all FE companies on here for something or other, but still, I understand everyones' concerns here.
However, I wonder if GPM is getting kind of a bad rap here, within this thread? Maybe not.....
However, I wonder if GPM is getting kind of a bad rap here, within this thread? Maybe not.....
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I think the bad rap for their PHI is well deserved. Without that issue they could be a go-to company.
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