Wednesday, September 15

You try to figure this out

I mentioned in yesterday’s post that a sale I made last evening fell apart barely 12 hours later.  What had happened is that the customer checked her records this morning and saw that she already had coverage, through her husband’s policy, that would duplicate the policy I issued her last night.  She called me and told me this, I called the home office to confirm her suspicion, and I called her back. During the course of our second conversation I brought up the subject of disability insurance for her husband.   He is self-employed in a physically demanding occupation and actually mentioned the issue last night.  The customer was quite receptive to the idea, in fact she told me that one of her major worries was that her husband would get injured and unable to work.  She herself has been out on disability from her own job, due to a medical condition, and being on half-pay she knows how difficult it can be from a financial standpoint.  Were her husband unable to work he’d be on zero pay rather than half-pay.

Looking in the rate book, I told the customer that I could write a disability policy for her husband for just about the same price – in fact, a dollar or two less per month – than the policy I had written for her the night before.  Instead of getting no commission I’d be making more money than if the wife’s policy hadn’t gone down, as even though the premium amounts are almost the same the disability policy would pay a higher percentage than would the wife’s policy.  I was hoping against hope that she’d ask me to come right over.  She said that she wanted to check with her husband first, which I understood.  So maybe I could  make the sale tomorrow or Friday.  The customer then went on to dash my hopes on the rocks when she said that it would be at least a couple of weeks before they’d be able to make a decision on the disability policy, as she wanted to make sure they could manage the premiums in their budget.

Say what?  Twelve hours earlier the customer had no qualms about taking out a policy on herself, now with that policy gone she was unsure whether they could afford a different policy that would cost slightly less.  Had their financial position deteriorated in 12 hours?  Well so much for making a larger commission.  It looks like my commission is back to a goose egg.  Oh, to make matters worse, I then called on a prospect for the fourth time, each time I go over he gives me the standard “I’m still thinking about it” line.  Today he finally completed the thinking process, telling me that he’d rather stick with his worker’s compensation coverage than take out a disability policy.  Mind you, he had been complaining all along about how expensive the comp was, and I had told him very clearly that a disability policy would make more sense in terms of the protection he needed.  In a last-ditch attempt to salvage something out of my four trips, I suggested that to supplement the comp he take out a accident protection policy, one that costs just over three dollars a week.  His response?  That’s right, yet another “let me think about it.”

I didn’t say anything, as I knew that anything I would say I would end up regretting.  Instead, I turned around and walked out of the customer’s business without saying a word.

It should go without saying that I was much too depressed to go to the gym tonight.

Published in: on September 16, 2010 at 8:10 pm  Leave a Comment  

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