What would you do with these clients?


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I have had this couple since March 2006. They let thier policy lapse in March 2007 because of insufficient funds. They are on monthly bank draft. I signed them up with a cheaper company in May. The initial payment went through ok. Then I got a notice in June of another insufficient funds on both. I called and they said they changed accounts or something and they were sending a check in. I just opened my mail today and it seems they never got the check in. I tried to call them and no answer.

Would you even bother with these people? Its a pain in the butt because now I have a $500 charge back with this company. I ony wrote 4 apps through them and now I am using a new company. I am definetly not putting them with the new company. I want to call them and tell them they are a pain in my ass. I assume they have money because they were asking me about investing n annuities in May.
I would try to see them in person and pick up the check, but more than likely they are deadbeats. I hate chargebacks and hate dealing with folks that get NSF all the time.
They live 2 hours away. I think I will have to fill out a whole new app anyway. I need to put them back with the same company to pay the chargeback because I don't want to use that company anymore unless I write people over 80.

I was really ticked earlier because I wrote 2 85 yr olds last week that expected to get paid on this week. I won't because of these f'ers.
That's the risk we run by taking annualization.
I agree. Unless I must (like on MA plans), I take my dough as-earned. In the long run there is no difference in the amount of money either way, I just despise having to pay back anything to anyone.

And don't get me starting about paying the IRS.

.w company. I want to call them and tell them they are a pain in my ass. I assume they have money because they were asking me about investing n annuities in May.[/quote]

:no: Usually this type doesn't have money. It costs them a fee for NSF so something is wrong with their cash flow. People ask idle questions about investments and may only have a few hundred or a thousand stashed in a money market. If they don't like to pre-pay on their health coverage, get them on a MA if it's workable. I have a couple like that...the only reason they're with me now is because of advantage plan...plus they can afford to maintain that life policy they bot from me last year.
I've talked with John P and Bob about this topic on numerous occasions. Agents have to have a sort of 6th sense about decoding the personality type of potential clients.

If I sense that the clients are not "up-to-date" on their finances, I will put them in with one of my as-earned carriers if possible OR I will put aside 75% of the money I earned into savings to cover taxes, marketing and chargebacks.
This is when I'm done with a client:

"So when is this coming out of my account? Today's the 15th and I can't have it come out before the 26th when I get paid?"

Me: "So you don't have $218 in your account right now?"


Me: "Well check your in box for my Carefirst link. You don't need any billing information at all. Just fill out the online application and you'll get mailed a bill after you're approved."

"That's great!"

Then I never hear from them again.
I will put them on a MA plan when they are for sale again. I would pput them on one months ago but it seemed that they had the money.

ITs funny, they live in a beautiful house and have little money. I talked to a guy that lived in a trailer one time, his house was disgusting and he had a beat up car, I think it was an 70's or 80's ???? Anyway, he had a little over 100k in a saving account and about 350k+ in an annuity. Thats when I learned not to judge someone's wealth by thier looks or property.
These people have no respect for you, or what you do. They believe - and will continue to, until they are declined - that medical coverage is similar to auto coverage. It can be done over the phone, and they get coverage immediately.

I, also, get paid as-earned, with the exception of MA's. This avoids this situation altogether. Rather to be out $25 in your account than $250.