Tuesday, April 04, 2017

Desperate Agent Tricks

I often get raised eyebrows when I mention to folks that one of my group clients is a local cemetery (the folks in the front office). But that's really mild compared to the (alleged) antics of Durham (NC) insurance agent Monica Jubert:

"A Durham woman is accused of signing people up for life insurance – even one woman who was already dead – without their knowledge"

[ed: how do they know the dead woman had no knowledge of the sale?]

In all, she appears to have pocketed just shy of $20,000 in commissions on 16 policies. I can sort of see how this could happen: with smaller face amounts on younger people, applications are typically "non-medical," requiring only the signed form and the first month's premium.

In typical MSM fashion, the reporter can't be bothered to make a simple phone call to confirm this. And of course we can't have him learning that the $20 grand is likely the result of "annualizing" the premium: companies will often pay an agent a full year's commission based on a single month's actual premium.

I really don't understand how she thought she could sustain the ruse, though: at some point, that second month's premium would come due....

[Hat Tip: Co-Blogger Bob V]
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