Chargeback Dating

[jdeasy]

I wrote about 12 grange in 2016 and then they pulled out of the independent Fe side . As I recall they only checked mib and not rx. I never had any chargebacks but I was very careful who I wrote . I still get a small renewal check . I only write prosperity for de and certain graded and modified . I believe prosperity is the only carrier that pays full the same comp on level , graded or modified .

I don't write amam but I believe they pay they same on all. I know KSKJ pays the same on select, standard and modified.

 

[jdeasy]

I know about that type of contract. Manhattan has a charge back on their ViVa life series that charges back 100% of commission if the policy does not pay three months and then charges back 50% of commission paid if it lapses during the next 12 months. Have written plan with them since they added that to the contract even though I like the plan.

But Billy stated "I only work with companies who do not charge back for lapses, as earned or advanced." I don't know of any company that will not charge back unearned advanced commission. If there is one, they sure will taken for a ride if many of the crooked agents out there find out about them.

I doubt there's a company out there that doesn't chargeback any unearned commissions.

 

[WinoBlues]

And certainly an agent that's recruiting and already has downline agents should know

Closers

 

[Life Hawk]

thinking that most clients stop paying in months 1 and 2?? comments on this??
do all carriers chargeback if client stops pay before 1 year? any go back less?? some pro rate? can you list your best and worst carriers for c/b and why? thanks

@PhxSunsFan, I agree with @jdeasy, if you are doing much recruiting, you need to have some things nailed down before onboarding people.

That said, your question is really one for the ages and one too far often booted.

The general discussion of charge backs is often taken over by folks who shoot out high numbers of retention, inferring they really never have anything fall off the books, yada, yada. This of course brings no real value to something we all deal with and more often then not shuts the conversation down so no one needs to deal with the awkward discussion of lost money and time.

Charge backs are not fun, not financially beneficial, and really a "pain to the brain."

Sadly enough, most agents are encouraged to overcome the issue with more production and little is discussed about, proper closing, a solidification process, or placement of high risk business and the need to spot high risk business.

Do you have a retention program in place? That's a real question, because if you are only trying to solve your problem by navigating companies, you'll find you are failing to see the whole picture and not addressing the more important aspects of question.

Your philosophy drive your business.

 

[WinoBlues]

Sadly enough, most agents are encouraged to overcome the issue with more production and little is discussed about, proper closing, a solidification process, or placement of high risk business and the need to spot high risk business.

That /\ /\ /\

Agents are recruited and contracted. Not trained.
Learning to retain business and not writing lapses is money.

Do you have a retention program in place? That's a real question, because if you are only trying to solve your problem by navigating companies, you'll find you are failing to see the whole picture and not addressing the more important aspects of question.

Like looking for a more absorbent mop, instead of fixing the leak.

 

[Travis Price]

You can't be seriously asking the stupid shit you have been asking the last few days.

Last few years.

 

[mudhound]

As an as earned person. I rarely see those. True, they do happen. But not much