Replacements

As you start to expand your business, you might meet some prospective clients who already own a policy. Even though they have a policy, you will find some of them are still interested in our products. They might even look to cancel their current policy and get a new one with you. You will hear this referred to as a replacement policy. In its most basic form, you are replacing one policy for another. In this case, you will need to analyze all aspects to make sure that a replacement is in the clients’ best interest. In this lesson you will learn about replacements when they should or should not be done and the risks associated with them.