New member in South Carolina

[kingedgars]

Hi everyone,

I live in Columbia, SC. I entered the insurance two months ago with a company selling fixed annuites, mostly indexed annuities. I'm making good money and our methods employ classic "bait and switch" techniques. Also, I'm concerned by the recent legal activities against EIAs by seniors, especially since they have "class-action" status. I would like to work selling a broader range of products, but there are factors to consider before I switch companies, so soon. So, I have referred to this site for information many times before becoming a member. I look forward to many discussions in the future.

 

[J.R.]

Hi everyone,

I live in Columbia, SC. I entered the insurance two months ago with a company selling fixed annuites, mostly indexed annuities. I'm making good money and our methods employ classic "bait and switch" techniques. Also, I'm concerned by the recent legal activities against EIAs by seniors, especially since they have "class-action" status. I would like to work selling a broader range of products, but there are factors to consider before I switch companies, so soon. So, I have referred to this site for information many times before becoming a member. I look forward to many discussions in the future.

What do you mean by bait and switch pertaining to seniors?

 

[Crabcake Johnny]

That also caught my attention.

 

[Alsky]

Is the "bait and switch" technique you have been taught agency trained or just something you picked up by some rouge agent/manager?

Just curious, I'm in SC also... What company do you work for?

 

[kingedgars]

We advertise one product with great features, which is available, then try to switch people to a different product that also meets their needs, but pays a higher commission. Similar to a car dealership advertising a "loss leader" car then selling customers on a more expensive model when they come to the lot. Not just to seniors, but anyone who comes in for an appt.

 

[kingedgars]

Also, thanks for the warm welcome, everyone.

 

[J.R.]

We advertise one product with great features, which is available, then try to switch people to a different product that also meets their needs, but pays a higher commission. Similar to a car dealership advertising a "loss leader" car then selling customers on a more expensive model when they come to the lot. Not just to seniors, but anyone who comes in for an appt.

What are the types of products?

 

[senior-advisor-indiana]

DO you show them both products? Do they chose which one they want? Do you think maybe you would make more money if you sold them the etter product even though it is lower commission? They would probably refer you to more people if you di an oustanding job for them.

 

[Tar Rat]

Ha ha you guys are funny... I love the "ethics" debates I get to read on these forums. You people act like the insurance industry isn't integrally evil to begin with. It's just rip-off reduction for ridiculous over-priced health care. I'm not saying we should all go out there and scam the elderly, but don't get on some moral high-horse either.

 

[J.R.]

Ha ha you guys are funny... I love the "ethics" debates I get to read on these forums. You people act like the insurance industry isn't integrally evil to begin with. It's just rip-off reduction for ridiculous over-priced health care. I'm not saying we should all go out there and scam the elderly, but don't get on some moral high-horse either.

Just because an insurance company acts unethical, that doesn't mean that agents/brokers should follow suit. Without morals and ethics, agents who write disregard ethics will be out of the business. That is GREAT for people who take pride in what they do and do not resort to cheesy sales techniques that most people can smell a mile away.