I got an e-mail stating that I have a debit balance with Vantis. I didn't know anything about this until now. I called and the rep told me I had 2 policies lapse in their 12th month so they charged back 100% of the commission. I received no notification of the lapse so how could I have known. I won't write any more business with Vantis. No other company I write for does this that I know of. I think it is ridiculous to write a case and have to worry about it staying on the books or you will be charged.
Debit Balance with Vantis
- Thread starter billyb
- Start date
- 6,994
That's why a lot of us won't write GI. We stick with SNL ROP or Settlers Bronze or something similar.
When you got contracted, you agreed to this commission structure. You either didn't think it was ridiculous then, or you didn't read it. Either way, its your fault.
It sucks, but you learned one or two valuable lessons. Happens to the best of us bro
Welcome to the world of insurance. Many fully underwritten carriers such as American General and Sagicor have 100% chargebacks for months 1-6 and 50% for months 7-12. Write Gerber as your chance of a 2 yr Gerber chargeback is far less than 12 month Vantis lapse chargeback with Fe clients.
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