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How Would You Handle This?
- Thread starter scmb
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- #12
Maybe it was already opened...
Opened itself of course.
I have a clear opportunity to provide a client with a higher income with a more secure company and collect $40k in commission.
It's one of those rare cases when your actually doing what's in the best interest of the client kind of situations.
The means of how I got the information isn't the problem, the agent who sold it most likely didn't disclose important information that could lead to a significant loss for the client.
If you don't have some input on how to approach her then save your useless comments to some other post.
Maybe it was already opened...
Doesn't matter, I've gotten other agents client data on issued policies faxed to me by mistake, in the past, and never considered doing anything but returning to the carrier or FMO. It was literally and figuratively none of my business what product/carrier another agent used.
I wonder what the carrier's management would think of a communication error being used to poach business?
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Was the mail addressed to you? If not, you would be committing a felony, mail fraud. While it is a white collar crime, that is pretty much the end of your insurance career.
If it was, then you certainly could go replace it. Although I'm not sure what I would think if I were the client and approached in this situation.
You asked how others would handle it, and they have answered (like I would) that they would do the right thing with it. But based on your responses, it appears that you are just looking for validation from other agents to do what you want to do and not really concerned with what the ethical choice is. Living by the Golden Rule is a great way to do business. Like VolAgent said, the fact that you opened mail that was not addressed to you is a crime.
It's not too late to start doing the right thing from this point forward.
It's not too late to start doing the right thing from this point forward.
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- #16
I make a living by helping people secure their financial future from risks, many times I do that by replacing other agents policies that either lied or were simply wrong for that specific situation.
It's unfair for the agent that I had an easy way to get to his client yes, all of you think that it could happen to you/me as well. That's true, that's why we need to make sure to keep the clients best interests when we suggest a product.
My polices rarely get replaced, when they do, I only blame it on myself for not doing a good job with that case.
I only suggested approaching the client because there is a strong chance they were misled.
Had one of you seen such a policy within its first years you'd wish you could fix the situation without having the client pay a high charge.
I can see why my words can seem biased but isn't doing what best for the client is the ethical thing? I didn't suggest lies to make her cancel, my intention is to inform her of the risk involved with her decision and if she expressed a concern then to show a solution.
It's clearly an agents forum because everyone are concerned to do the right thing by the agent even though the possible victim is the client, that agent got his commission, why should he care what could happen to hers in 10 years....
It's not to late to realize your working to help people not supporting agents who hurt them.
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Well I would need their contact info ?
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Do you have any specific suggestions on where I should post? You wouldn't even think about touching this if it was only a 5k policy. The other agent is obviously better at marketing than you are.
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- #19
Your correct 5k would be under the upper limit covered by the state pool in case the company goes insolvent.
So being a better sales persons means you can sell bad policies?
Let's imagine you met this client of a seminar, same exact timing and policy. Would you make a recommendation to keep it the same or would you offer something different?
If you would suggest that she does something different then the only problem with what I'm thinking is the way I actually got to the client through a piece of mail that doesn't belong to me.
What's more important, the $500,000 in retirement savings at a higher risk or keeping the agent on file respect and completely ignoring the information that came to my attention.
I don't have a simple way to approach her without risking myself so I decided to print out the company rating report plus the limitation rules concerning the state pool.
Left any information that could trace back to me off. I'm sure she'll give her agent a call.
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Why not contact the agent about the great products you offer? I'm sure he could use them in his portfolio.
