Trans/Monumental App

[Rearden]

What exactly does the SS Form so that makes it work so well?

Is the money being taken out prior to the check depositing?

 

[TwiLight]

What exactly does the SS Form so that makes it work so well?

Is the money being taken out prior to the check depositing?

They are following the Deposit Day Schedule exactly and are actually doing it correct. The draft is coming out on the morning of the deposit. (1st, 3rd, and 2nd/3rd/4th Wed).

When the deposit is on a weekend they take out on the Friday before. Ex: Feb 1 and Mar 1 were Sundays and the SSI deposit was the previous Friday and they took the Draft on Friday as Scheduled. That was one of my first tests to see if they were going to do it right and they did. Also worked on Jan 3 (Sat) and drafts were on Jan 2 (Fri)

Not much time to spend the SocSec deposit when it is gone by 6 am.

 

[HoosierLife]

What exactly does the SS Form so that makes it work so well? Is the money being taken out prior to the check depositing?

I think it's when the draft date falls on weekend or holiday. They pull the money out the fri before if SSBO is filled out.

 

[Rearden]

They are following the Deposit Day Schedule exactly and are actually doing it correct. The draft is coming out on the morning of the deposit. (1st, 3rd, and 2nd/3rd/4th Wed).

When the deposit is on a weekend they take out on the Friday before. Ex: Feb 1 and Mar 1 were Sundays and the SSI deposit was the previous Friday and they took the Draft on Friday as Scheduled. That was one of my first tests to see if they were going to do it right and they did. Also worked on Jan 3 (Sat) and drafts were on Jan 2 (Fri)

Not much time to spend the SocSec deposit when it is gone by 6 am.

In effect, what you are saying is the vast majority of the lapse problems many see in final expense is due to bad timing with electronic drafts?

 

[Iwillpay]

In effect, what you are saying is the vast majority of the lapse problems many see in final expense is due to bad timing with electronic drafts?

Bingo!!. You hit the nail on the head, the insurance company gets it before they even see it. Those who want the policy wont mine it coming out, those that dont will want to cancel or replace when a replacement agent comes around.

I have about 15 now and no problem, but I wrote one this week that I will have to go back and make double sure she is Ok with the premium amount

 

[mbiallas]

So what other carriers are doing it this way? Seems dumb that they all don't do it.

 

[sirherbie]

Family benefit and snl. The problem with a regular bank draft is the debit is removed at night and the money's gone.The only downside is you need 10 days to set up with Trans thus if you write near a draft date it rolls to the following month . Gives people 40-45 days to change their mind .Another thing to keep in mind is debit cards near expiration can be a challenge .

 

[John Galt]

Family benefit and snl. The problem with a regular bank draft is the debit is removed at night and the money's gone.The only downside is you need 10 days to set up with Trans thus if you write near a draft date it rolls to the following month . Gives people 40-45 days to change their mind .Another thing to keep in mind is debit cards near expiration can be a challenge .

Yea but it still works great with checking accounts.

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Family benefit and snl. The problem with a regular bank draft is the debit is removed at night and the money's gone.The only downside is you need 10 days to set up with Trans thus if you write near a draft date it rolls to the following month . Gives people 40-45 days to change their mind .Another thing to keep in mind is debit cards near expiration can be a challenge .

I think snl only offers this on the 2, 3 or 4th weds drafts. All others are regular eft days 1-28. Not following the ss deposit dates for 1st or 3rd

 

[Ron Van D]

The last RNA app I did took about 20 minutes. Still far too long and cumbersome but you do get an answer.

RNA never asks questions not on the application. Nor do they vary from their drug list. If it says it's a decline on the Rx list then it's a decline. Don't even bother with writing them.

If it's not on there they will not surprise during the interview.

You don't even have to send in replacement forms now with RNA. That's covered during the voice sig. That does make the interview longer though.

They have supposedly improved the interview since I did my last one.

I hate the RNA process for the process. But one thing they won't do is throw in a surprise.

They asked all the questions and still told me I HAD to send in a signed replacement form.

 

[jdeasy]

They asked all the questions and still told me I HAD to send in a signed replacement form.

How long ago?.........................