Grange Life Final Expense

[Newby]

If they paid 8 months of premium and you made 120% x $1000 of premium paid you'd have a debit $1200 . Now 12 or 13 month chargebacks are a little misleading. If somebody pays 10 months of premium the actual lapse date would be after 12 months. Most co's have a 60 day total lapse period. Now this is very important with co's like sagicor as they have a 100% month 1-6 and 50% month 7-12 chargeback. if somebody paid 8-9 months with a Ul the cash value and 60 day total lapse period will take you past the 12 month period.

Nope. If they don't pay their 13th premium, it's 100% chargeback. Maybe if they overfunded a UL but that would be the same a saying their premium. The 60-days of grace period won't help you though.

 

[sirherbie]

A regular Gul paid to the 8 or 9th month will not lapse till after month 12. I've quizzed Aig and Sagicor on this. As long as the policys in force on the 365th day no chargeback.As far as grange do 13 premiums have to be paid or could 11 or 12 and it's still not lapsed to avoid a chargeback?

 

[John Galt]

These carriers kill me, if they get paid we should be paid. Ill write gi with a cb for death but i wont write another for cb due to lapse like these, stupid stupid stupid, let them lose all their agents and change their lapse cb policy first.

 

[Newby]

A regular Gul paid to the 8 or 9th month will not lapse till after month 12. I've quizzed Aig and Sagicor on this. As long as the policys in force on the 365th day no chargeback.As far as grange do 13 premiums have to be paid or could 11 or 12 and it's still not lapsed to avoid a chargeback?

Grange FE is whole life. That should tell you enough to answer your own question.

 

[sirherbie]

You don't understand the question. Every Fe company I've seen will not lapse a policy till day 60. So if the client pays to month 11 and the policy lapses after month 13 will grange charge you back even though you only paid 11 premiums?

 

[jdeasy]

You don't understand the question. Every Fe company I've seen will not lapse a policy till day 60. So if the client pays to month 11 and the policy lapses after month 13 will grange charge you back even though you only paid 11 premiums?

Yes................................................................

 

[Newby]

You don't understand the question. Every Fe company I've seen will not lapse a policy till day 60. So if the client pays to month 11 and the policy lapses after month 13 will grange charge you back even though you only paid 11 premiums?

Do you understand why WL requires all 12 premiums and GUL may not?

I thought Dave D field trained you?

 

[sirherbie]

Lol Newby. I do more premium than any agent you have. I sell 30 times Regular underwritten that you do and you talk trash. It says if it lapses within 13 months its a chargeback period. No whole life paid 11-12 months lapses by month 13. If someone pays 7-10 months yes it does lapse.

 

[SPUR CITY]

Lol Newby. I do more premium than any agent you have. I sell 30 times Regular underwritten that you do and you talk trash. It says if it lapses within 13 months its a chargeback period. No whole life paid 11-12 months lapses by month 13. If someone pays 7-10 months yes it does lapse.

Herbie gettin GANGSTA with it

 

[jdeasy]

Herbie gettin GANGSTA with it

Yeah, but when it ain't backed up with the truth it falls flat.