by Insurance Maze » Fri May 02, 2008 09:50 pm
Unfortunately, there are bad insurance agents, just like bad doctors, bad accountants, bad lawyers, bad husbands, bad wives, bad insurance investigators, etc.
It seems that the only time the general public speaks of insurance agents, it's the time they have dealt with one of those.
Ok, for the good guys. How do you conduct your business on a daily basis and how do you present yourself to the general public?
Maze
It seems that the only time the general public speaks of insurance agents, it's the time they have dealt with one of those.
Ok, for the good guys. How do you conduct your business on a daily basis and how do you present yourself to the general public?
Maze
Posted: Fri May 02, 2008 10:54 pm Post Subject:
One thing I learned early in my previous career as a retail manager is that it is very expensive to attract a new customer but one you can keep a lifetime is worth 100 times the cost of getting them in the first place.
The easiest way to lose a customer is being a crook.
The easiest way to keep a customer is being friendly, honest, and dependable.
I think that this is how I present myself to potential clients and I also put great effort into living up to their expectations.
This gets me more loyal customers and much more referral business.
I just hate seeing so many people duped by those promising the world and delivering nothing...
mac
Posted: Sat May 03, 2008 02:33 am Post Subject: insurance
I've gone through a few companies (reguarding Life Insurance, Health Insurance, etc.) A few of them sounded great ...UNTIL I signed the policy and THEN they would say ( it seems like, anyway), " oh..by the way,..we CAN'T do THIS and CAN'T do that.." These people couldn't tell me that BEFORE I signed anything? Thank goodness, I had so-many days to look over and cancel my policy. I mean, I REALLY thought I had a 'good' Life Insurance policy about to start, until the comapny seemed to 'change their monds/attitudes on a few things.
Posted: Sat May 03, 2008 02:37 am Post Subject: insurance
However...........I WOULD reccomend a certain insurance company ( that deals with car insurance, mostly) to those who don't have really good driving records. Afriend of mine has a HORRIBLE driving record..lots of accidents ( DUI's on a few) and STILL got a decent rate, with this company.
Posted: Sat May 03, 2008 03:35 am Post Subject:
I do not like for my customers to be unpleasantly supprised when they have a major health insurance claim. I do my best to describe the limitations along with the benefits of any policy that I sell to them and also stress that they read their policy when it is issued and to call me with questions.
I do stress the benefits of any policy I sell but I do not make it sound like something it is not.
Too often I have come across people who have been sold limited benefit plans or discount plans that were led to beleive that this was major medical coverage by the agents who had sold the policy to them.
They had no clue that these policies would only cover up to a certain amount or just a simple discount and that the rest of their bills would be their responsibility. Most usually the only thing stressed by the agent selling this to them was low or no copays and low monthly premium.
A policy is only as good as its ability to cover someone when they need it the most...
mac
Posted: Sat May 03, 2008 03:45 am Post Subject: policy
Sounds like you're pretty honest, BEATUPLUNCHBOX. That's encouaging. I DO need some good Denatl and Life Insurance coverage. Can you help me out? LOL Recommend anyone?
Posted: Sat May 03, 2008 06:28 am Post Subject:
hey chargersfan
As far as an individual dental plan I would have to say that for the most part they are a waste of money. All of them I have looked at have low caps on yearly benefits (usually between $1500 to $2500 max they will pay per year). They also have smaller caps on single procedures and wating periods for major procedures, and a lot of time cover only 50/50 for major procedures. When you factor in that premiums range between $60 to $80 a mont it is very unlikely that you will come out ahead. I usually suggest to new customers that ask about dental to ask their dental office which discount plans they accept. These are much cheaper and will save you money.
As far as life insurance just make sure that you deal with an agent who has multiple carriers so that you can get the best price. I have found that companies vary greatly on price on different terms, age, health condition, and so on.
I run quotes on my customers and one company will have the best price for 15 year term and a completely different company will have best price for 20 year...and this is true for about every variable.
As far as companies just make sure their AM Best rating is decent. Past that they are fairly standard, some have more lenient underwriting..
mac
Posted: Sat May 03, 2008 12:51 pm Post Subject:
I think that this is how I present myself to potential clients and I also put great effort into living up to their expectations.
I totally agree with you beatuplunchbox and oftentimes this is a very difficult task, because it seems that the "expectations" of the general public is very low premiums, exceptional benefits and no exclusions for anything.
I've gone through a few companies (reguarding Life Insurance, Health Insurance, etc.) A few of them sounded great ...UNTIL I signed the policy and THEN they would say ( it seems like, anyway), " oh..by the way,..we CAN'T do THIS and CAN'T do that.."
sdchargersfan,
It is very important to understand that an "insurance agent" is not the final decision maker in any particular situation. It is true that an agent is a "field underwriter" and should do everything possible to complete a thorough insurance application. Two things can happen during the application process:
(1) The agent can go down the list of questions on the application and just check every question "NO". Then the agent will ask for the signature of the applicant. Most applicants don't read anything, they just sign. By signing the application, the applicant has verified that he/she has told the truth to the best of his/her knowledge. The fact that the applicant has been taking medication for high blood pressure and hypertension is not actually known until the home office underwriter checks the MIB (Medical Information Bureau) and this is where the changes come into play.
The agent didn't do a professional job because he/she didn't ask the questions. The applicant didn't do his/her job by reading the application before signing it.
(2) The agent will ask all of the medical questions and get the applicant's responses and check "YES" or "NO" on the application. If the applicant chooses to not remember a doctor's visit two years ago for chest pain and an irregular heart beat, then the agent doesn't know about it.
I have found in my several years in the insurance business, people sometimes forget a lot of important insurance information.
Afriend of mine has a HORRIBLE driving record..lots of accidents ( DUI's on a few) and STILL got a decent rate, with this company.
I would ask that you really think about this. Any person who drives irresponsibly puts us, our kids, our grandkids and everyone else on the road in danger. Why should these people get the same insurance rate as those who operate a vehicle responsibly and in compliance with local and state laws?
I hope we can keep this discussion going, because I think it is very important that we get more open lines of communication between the insurance industry and the consumer. Most people have the wrong impression about insurance rates. It is the consumer who sets the rates, not the insurance company.
Maze
Posted: Sat May 03, 2008 01:14 pm Post Subject:
Most people have the wrong impression about insurance rates. It is the consumer who sets the rates, not the insurance company.
I really like that Ins Maze.
That's what I was trying to explain over on the thread about misrepresentation of garaging territory.
Personally, I put a strong emphasis on trying to get my P&C clients to slow down and let me explain the coverage they are buying. So many only care about the price and nothing else then they are amazed when they understand what the various coverage limits really cover.
Renter's are the best. "Would you like a quote for renter's insurance?" "No, my stuff's not worth anything, I don't need it." "Even if you don't care about your property, do you have a reserve of $500,000 and unlimited funds for legal defense in case someone sues you?" "What?"
"It's only $117 annually and it'll save you $65 a year on your car insurance"
Posted: Sat May 03, 2008 04:34 pm Post Subject:
It seems that the general public is facing a real dilema when it comes to health insurance. It seems to me that many people are geared to the traditional head to toe group coverage that used to be the mainstay of many of the larger companies.
With more people losing this type of coverage they have absolutely no clue when it comes to having to buy and individual policy on their own.
It is so easy for them to fall into the trap of buying policies that are the cheapest or have the lowest initial deductable when a lot of times these turn out to be limited benefit plans or discount plans.
I have found that some agents sell a ton of these by emphasizing the low deductible or premium but often fail to mention that after a certain amount the plan will cover nothing.
It is their responsibility to read their policy but often they blindly trust an agent to tell them right.
mac
Posted: Sun May 04, 2008 01:22 am Post Subject: insurance
INSURANCE MAZE>>>>>> that ALL makes sense!! That friend i was talking about is a bit ticked off at me. Why?..you may ask? Because she drives a car, about the same year as mine ( good, used one) and pays almost DOUBLE rates. She's a few years younger than i am. However, her driving record is horrible. Well.......it DOES make sense when you say the 'driver' makes his 'own rates', not the insurance company. Depends on the DRIVER. Also...what about those people ( I DO know a few) who have had their licenses suspended or revoked? They STILL drive. They get caught and they SCREAM because they are treated 'unfairly." What about our children? Families? God forbid something happens, an accident of some sort, with a DRUNK driver ( with no license)...I think you get the picture.
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