- 2,110
You obviously have never read some of the FE contracts that are out there.
Charge backs
- Thread starter Tim Lumbao
- Start date
- 11,277
Agreed. Which was why I qualified my post assuming that it was an FE policy issue.
- 11,277
I don't sell the same companies you do, apparently.
Point #2: No chargebacks in the event of death, but no FYC if it is on active waiver of premium.
Point #3: Actual premiums less any partial surrenders and loans are less than expected premiums. Doesn't say anything about refunding commissions in the event of death.
Point #4: I'm not doing internal replacement. If I was, I would expect it to be handled differently anyway.
Now, this is further in the commission agreement:
Surrenders in the first year... okay, that's there.
Commissions charged back in the event of death if the ORIGINAL ISSUE AGE of the owner was 80 or older.
What's my point? Read your commission schedule and agreements.
Not everything is as anyone else says. Read what's in writing.
- 18,988
- 11,277
Read above.
- 4,575
Fully underwritten WL policies paid annually refund consumer unearned premiums when surrendered mid year. This is true in 1st year or subsequent years. If premium is 1200 a year & cancelled 3 months into a policy year, 9 months unearned premium will be refunded as part of cash surrender value
- 11,277
Yes, just saw that in one of my commission agreements and quoted it above.
- 18,988
You can cherry pick all you want to prove you don't know what you're talking about. Even what you posted says what I'm trying to tell you. Maybe you don't get charged back at Boston Market. But if you ever sold even one policy that got cancelled you would know these things.
And the beneficiary receives the unearned premiums on top of the death benefit. No company is going to pay commissions on money they didn't keep themselves.
But you just keep advising people on shit you know nothing about. No wonder you still live with your parents.
- 18,988
And that dude has some kind of facebook cult where he supposedly advises on insurance!! Unfrickinbelievable!!!
- 11,277
The policies I sell... stay in force. Hasn't been an issue (knock on wood). No, I don't sell a ton, but I do sell nice decent 10-pays... not that I need to prove anything to you.
My living situation... suits me and my family just fine and is no one's business but mine.
My living situation... suits me and my family just fine and is no one's business but mine.
