Kick Backs and Indian Culture?

[lifeinsuranceguytx]

So I just came here to vent and talk crap basically....

Today I went to see a client well potential client
who got approved pref plus for a $1,000,000 policy with Banner.
The annual premium is $10,500. The client wants to pay annually.

I walk in and show him the quote and this son of a gun tells me
his other agent will give him $500 or more out of the commission
and it's a discount. I responded "that's illegal". He says well
whether it's illegal or legal he's an indian guy like me and he
understands the game you have to play. I told him to think about
the offer from Banner and let me know. I shook his hand and walked
out. Any advice? Or anyone would like to rant with me here.
I'm pissed that he even asked me that.

 

[VolAgent]

Sometimes you just have to walk away.

 

[LGilmore]

I haven't done well with that demographic either. Similar situations and yes, the best thing is to move on. Not worth the trouble, not worth fines or losing your license for.

 

[VolAgent]

If you do it, 99 times nothing will happen and life goes on. It is that 1 time that can ruin everything.

 

[Cash]

If it weren't for the no vulgarity rule this would be a great place for a link to Glengary Glen Ross.

 

[VolAgent]

It is one thing to ask for a kickback, it is a whole different level once you have told them it is illegal and they still want it.

 

[Tahoe Ray]

So I just came here to vent and talk crap basically....

Today I went to see a client well potential client
who got approved pref plus for a $1,000,000 policy with Banner.
The annual premium is $10,500. The client wants to pay annually.

I walk in and show him the quote and this son of a gun tells me
his other agent will give him $500 or more out of the commission
and it's a discount. I responded "that's illegal". He says well
whether it's illegal or legal he's an indian guy like me and he
understands the game you have to play. I told him to think about
the offer from Banner and let me know. I shook his hand and walked
out. Any advice? Or anyone would like to rant with me here.
I'm pissed that he even asked me that.

You got him approved P+ w/ Banner? Because the other agent is going to have to go to another carrier if he/she wants the business. Banner has a "first agent through the door" policy that they put in place a couple of months ago.

If you put an app in first with this client, the other agent is going to have to wait 6 months (or they can start over with another carrier) before they can submit to LGA...it is designed to protect the original agent.

Your client must really want to do business with that other agent to start the process all over again.

 

[VolAgent]

You got him approved P+ w/ Banner? Because the other agent is going to have to go to another carrier if he/she wants the business. Banner has a "first agent through the door" policy that they put in place a couple of months ago.

If you put an app in first with this client, the other agent is going to have to wait 6 months (or they can start over with another carrier) before they can submit to LGA...it is designed to protect the original agent.

Your client must really want to do business with that other agent to start the process all over again.

You know what happens when you ASSUME?

I doubt the suspect has a clue about all this. He simply knows what the other agent offered and it may well be with another carrier.

Also, there may not even be another agent. The suspect may just be fishing and seeing what he can get. No telling.

Note, I do call him a suspect and not a client, he hasn't bought squat from the OP and has thrown up roadblocks instead.

 

[Winter_123]

Your client must really want to do business with that other agent to start the process all over again.

The guy is a bullshiiter trying to shake him down. There is no other agent.

 

[briko3]

If it's that important to him to work with "another indian like him", then you really don't have a prospect. He'll use you for information and take it to the other agent.

That being said, there's always a chance. You left it the right way. In a week, call him and tell him that Banner needs to know by _____ if he's going to take the policy or not. Then follow up a day before that date.