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By Ed Hinerman on March 26, 2013
We left off the other day with a description of Protective Life’s universal life conversion product, a product that simply defies the imagination. Since they introduced….no wait. They forgot to introduce the product. Since they gave their loyal term customers a bad UL suppository, agents and clients alike have been trying to figure out, beyond ...read more
Posted in bait and switch, conversion, Conversion to a permanent product, guarantee, guaranteed level premium, insurance, life insurance, lifetime guaranteed UL, loyal customers, over 50 life insurance, term insurance, universal life | Tagged adverse selection, bad UL, conversion option win/win, convert as investments, didn't listen to actuaries, insurance, life insurance, life settlement adverse selection, life settlements, millions of people to drink the poison, never hinted to agents, never hinted to customers, Protective life bad conversion option, Protective to greedy to listen
By Ed Hinerman on October 6, 2012
I had an experience with Direct TV yesterday that left me wondering if there is anyone left in this country that truly cares about their customers. I definitely understood by the end of the four hour ordeal, that, and this is from Chase Carey’s secretary, “we have 19 million customers and no matter how bad ...read more
Posted in bait and switch, customer service, honesty, Independent agent, insurance, insurance quotes, life insurance, life insurance approval | Tagged agents say whatever it takes, bad life insurance experiences, bait and switch, believed first lie, believed second lie, caring about customers, changine declines to approvals, customer service, customer service rating, Direct TV, good agents out there, good life insurance experiences, insurance, liars, life insurance, life insurance bait and switch, make agents prove their bait, president Direct TV Carey Chase, told qualified for the best rate, what you were promised is switched
By Ed Hinerman on July 26, 2011
I am left shaking my head occasionally when I hear a client say that my quote is much higher than some other quote they have received. Since I shop virtually every case I quote I am confident when I send out quotes, well, they are as good as it is going to be after underwriting. ...read more
Posted in bait and switch, cancer, heart disease, Independent agent, insurance, life insurance | Tagged bait and switch, cardiac workup, impaired risk agent, impaired risk life insurance, Independent agent, insurance, life insurance, life insurance quotes, pathology report, required medical questions
By Ed Hinerman on July 21, 2011
I have written a lot in the past year about the availability of a very fairly priced AD&D product from a company that covers everything from simple AD&D to war risk for civilian contractors working in Afghanistan. The company that offers the coverage is Global Underwriters and as I understand it the end product is ...read more
Posted in accidental death, bait and switch, insurance, life insurance | Tagged accidental death, ADD, bait and switch, exclusion, Global Underwriters, hazardous activity rider, insurance, life insurance, pilot
By Ed Hinerman on June 15, 2011
After being beat up yesterday by a final expense life insurance agent that didn’t like my opinion of final expense insurance companies, I’m feeling the need to vent. Folks, this is all about life insurance customer service, where the customer comes first and if the agent can’t do the very best thing possible for a ...read more
Posted in bait and switch, final expense life insurance, Independent agent, insurance, life insurance | Tagged affordable insurance, budget, captive agents, clients misled, customer service, declined, ethically, impaired risk, independent agents, insurance, life insurance, life insurance cash value, poorly served, success rate |
By Ed Hinerman on October 12, 2010
A client left me a message to call over the weekend and when I caught up with him today he had quite a story to tell. He has had a policy in force with me for 7 years, a 15 year term insurance policy. As his story goes he went to the ER about 6 ...read more
Posted in bait and switch, insurance, life insurance | Tagged bait and switch, colostomy, conversion, diverticulitis, insurance, life insurance, MRSA, perforated bowel, term insurance policy
By Ed Hinerman on August 3, 2010
Having run across bait and switch situations often during my years in life insurance, and having just run head on into again today, I thought I would share a few thoughts starting with an analogy. Have you ever wondered what a fish must go through when they’re caught? Just swimming along minding their own business, ...read more
Posted in bait and switch, insurance, life insurance | Tagged bait and switch, cancer, Gleason grade, insurance, life insurance, preferred rates, prostate cancer, Prudential, PSA, standard plus rates, term insurance
By Ed Hinerman on September 10, 2009
I called a client of mine the other day because not too long after I had done an annual review of his term life insurance coverage I received a notice that he had applied with another company and was considering replacing the policy he had through me. Now I really don’t like losing clients and ...read more
Posted in bait and switch, insurance, life insurance | Tagged angioplasty, approval, bait and switch, cardiac workup, early onset CAD, ejection fraction, Empire General, Genworth, heart attack, high blood pressure, insurance, life insurance, preferred best rates, term life insurance
By Ed Hinerman on June 22, 2009
Bait and Switch! Most commonly run across in advertising or in sales pitches when a price is presented that the agent or agency knows is either inappropriate or unattainable. The truth, the switch, in life insurance is usually only brought to the surface after a long underwriting period. Another type of bait and switch occurs ...read more
Posted in bait and switch, life insurance | Tagged bait and switch, cholesterol, insurance, life insurance, liver functions, Prudential, term insurance, triglycerides
By Ed Hinerman on April 23, 2009
During this recession many people are turning to term insurance as a way to fill the void left by decimated investment portfolios. Like me, most believe that the hole will eventually fill back up, but in the interim who wants to leave their spouse with a 401k that has been downsized to a 101k. The ...read more
Posted in bait and switch, insurance, life insurance, term insurance | Tagged bait and switch, insurance, life insurance, recession, term insurance
