Getting Paid on Med Supp

[jn8691mr]

I've never sold it. What's the average turn time from app submission to get paid. I know it can vary, but what is typical?

 

[GreenSky]

I've never sold it. What's the average turn time from app submission to get paid. I know it can vary, but what is typical?

Just curious as to why it matters. If it takes a week or a month or until the effective date you will still get paid.

Rick

 

[sman]

I've never sold it. What's the average turn time from app submission to get paid. I know it can vary, but what is typical?

Varies by carrier. Some pay shortly after the first premium is paid (within one week). While others don't pay until the month after the effective date.

 

[Glen Shelton]

Varies by carrier. Some pay shortly after the first premium is paid (within one week). While others don't pay until the month after the effective date.

Yes similar to the life biz this can vary per carrier and per which IMO/FMO your are contracted with.

 

[DS4]

I've never sold it. What's the average turn time from app submission to get paid. I know it can vary, but what is typical?

Have the insured pay you in cash. Take out your commission and the send the balance to the carrier.

 

[GreenSky]

Have the insured pay you in cash. Take out your commission and the send the balance to the carrier.

This isn't 1970. I can take credit cards.

Rick

 

[GoPokes]

Have the insured pay you in cash. Take out your commission and the send the balance to the carrier.

No chargebacks, I like it

 

[G.Gordon]

Just curious as to why it matters. If it takes a week or a month or until the effective date you will still get paid.

Rick

And get off advanced commissions ASAP.

 

[Glen Shelton]

And get off advanced commissions ASAP.

From Med Supps? What's the hurry to get off of advances?

 

[WCMason]

From Med Supps? What's the hurry to get off of advances?

12% interest on that loan was my inspiration.