Trinity Life-Family Benefit: Incorrect Draft Day--4th Wednesday May 2020

[Northeast Agent]

May 27, 2020

Re: Incorrect Draft Date—4th Wednesday May 2020

Dear Producer,

Trinity Life and Family Benefit Life have 3 commitments to you: Being an easy company to do business
with, getting your policies issued in a timely manner, and having tools in place to help keep your policies
in-force longer which helps you make more money over time. One of those tools is the ability to draft a
bank account on the 2nd, 3rd or 4th Wednesday of the month to time their premium payment with their
Social Security deposit.

We recently found an error in our system where the wrong date was added on the calendar for the 4th
Wednesday in May 2020. Therefore, those that should have been drafted on the 4th Wednesday of May
were drafted one day early on Tuesday, May 26, 2020.

If you receive notification from one of your clients advising they were charged an overdraft fee, please
have them send a copy of their bank statement showing the fee to Kim Suter’s attention along with their
policy number and phone number. Once the bank statement is received we will deposit the overdraft
fee back to the bank account on file. If received before 3:30 pm EST, it will be processed that day and
the refund will show in their bank account the next day. If received after 3:30 pm EST, it will not be
processed until the next day delaying the refund by 1 day.

The information can be emailed to: [email protected] or faxed to Kim’s attention: 502-875-7084.
We appreciate your business and understanding of this error. If you have any questions, please do not
hesitate to get in contact with me: 866-211-0811.

Sincerely,

Alvin Begnoche, CLU®, ChFC®
Vice-President, Marketing

 

[suranceman]

If they get an NSF notice, they should just pay the standard nsf fee for whatever bank the client banks with. The NSF fee for each bank is easily accessible online or via a phone call. They shouldn't require an FE client to get a copy of their statement.

 

[rousemark]

If they get an NSF notice, they should just pay the standard nsf fee for whatever bank the client banks with. The NSF fee for each bank is easily accessible online or via a phone call. They shouldn't require an FE client to get a copy of their statement.

What if the premium cleared but caused other items to NSF.. Will they refund those fees?

 

[theinsuranceman]

What if the premium cleared but caused others items to NSF.. Will they refund those fees?

That is going to be an accounting nightmare.

 

[Newby]

Well that settles it. Once any company dabbles in telesales (aka: the Devil's Playground) the entire company goes in the crapper. I blame Root 100% on this one.

 

[WinoBlues]

What if the premium cleared but caused other items to NSF.. Will they refund those fees?

Depends on the company but my experience is yes. I have had to fight a little to get them to move but not usually.