Unlike some of the other fee-based gurus, I've done my share of uncompensated consulting. Most times I don't mind it a bit, and on many occasions I have been downright fulfilled by helping people with their insurance issues without earning a dime. And they typically reward you with great referrals.
But enough of the feel-good stuff. I'm here to tell you about the times we as agents and brokers get used and abused. If you have been in the business as long as I have, these situations have happened to you too.
I once received a referral from a lead-generating service where a particular small business was looking for some information on a group health insurance plan. This happened to be a wheel manufacturing company for golf carts, located in the next county. I called and spoke with the owner, Jeff, and determined he was looking at obtaining some group health quotes to help reduce his premium. Jeff indicated he had a group plan with the same company for about seven years. I further pre-qualified that his company employed 12 and 11 were covered under the health plan. I set up an appointment to visit him to go over the coverage and gather additional details.
On a chilly, rainy afternoon in November, I pulled into Jeff's parking lot. I detest going out to appointments in the pouring rain -- evening appointments. But I thought this was a pretty good prospect so I sloshed my way into his lobby like a wet weasel and announced to the receptionist that I had a meeting with Jeff. She rang him on the phone, and told me to take a seat next to a smelly coffee pot that had been burning since that morning.
After 15 minutes with the May 1986 issue of Car and Driver Magazine, I thought Jeff had forgotten me. Just then he flew out of the stockroom, stuck out a grimy hand, and corralled me to an "all-purpose" break room, kitchen, smoking room and locker room. I sat in a metal folding chair strung together with duct tape, and Jeff sat across the table from me before lighting up a cigarette.
Jeff's health plan was a dinosaur in that he had a $250 deductible with 90/70 co-insurance and some first dollar benefits. I went over medical trends, new drug benefit ideas and cost-containment measures. I also explained the mechanics of a high-deductible plan with a health savings account. Jeff thought that sounded pretty cool, especially when I told him about the estimated chunk of premium savings. That's when things got bizarre.
When I asked him for a copy of his benefit book and billing, he advised, "You don't need that. I'll decide how competitive you are when you get me your quotes."
Letting that comment slide for a minute, I also advised him that in order to get an accurate quote, I would need to get a health risk assessment for each member of the group.
Jeff balked at that, too. I had crossed the threshold of operating in a region of empty matter, a vacuum void of any logic or reason. I had just spent 45 minutes going over "Group Health Insurance 101" with a guy who wanted to keep more secrets than the Knights Templar. Plus, I was catching a chill from my wet socks.
After hearing strike two from Jeff, I thought perhaps another approach might just get him to cough up the information I needed.
So, I got very serious and said, "Jeff, in order for me to do my job as your agent and give you the best possible options available, it's essential that I have this information."
Swing, batter, batter..."Steeeerike three, you're out!"
Jeff countered that I wasn't his agent and he was not going to give me the (expletive deleted) information. I got up from my duct tape chair, thanked him for his time, and beat a speedy exit back into the pouring rain.
I later found out from talking with another agent that Jeff had purchased a group health savings account from his brother-in-law who had just gotten into the insurance business.
Since my unsuccessful exercise with Jeff, I almost always pre-qualify the prospect further by indicating that I require a review of benefits and a medical assessment. Most of my prospects have no problem with this, and I've found it eliminates the rate-shoppers and insurance company hoppers. I guess in Jeff's case, "happy" are the relatives that can eat onions and buy insurance together (with apologies to Charles Dudley Warner).
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From the April 2008 issue of Benefits Selling Magazine • Subscribe!
