MatthewC
Expert
- 89
I am curious if other agents are having this problem.
On my monthly United American (the Torchmark Company) commission run is a line item debit under "Miscellaneous Adjustment" "Premium Shortage".
This is the third time I have seen this. In each case I am being debited the full monthly premium (note the entire premium, not commission) that is due from the client(s). None, as far back as a year ago, have been offset by a credit.
I have tried to get an explanation from United American but they keep talking around the issue. Now I have been so completely stonewalled that even the Region Director says I have to write to their legal department.
Obviously, no agent is liable for a policy holder's premium. Obviously, commission adjustments labeled Premium Shortage and placed under Miscellaneous Adjustments are a bit suspect. But even then, I would expect a simple explanation and correction.
I have a background in finance. I understand accounting very well and have found accounting errors in commission runs from other companies twice in the past year +. On both occasions I simply talked to accounting and the issue was resolved while I was on the telephone. But United American does not let agents talk to accounting and their explanations emailed via a third party completely avoid explaining "Premium Shortage" and it seems no one else at the company is listening.
Anyway. Anyone else ever noticed this? Was it resolved? It's easy to miss on the monthly run. It might be worth checking.
On my monthly United American (the Torchmark Company) commission run is a line item debit under "Miscellaneous Adjustment" "Premium Shortage".
This is the third time I have seen this. In each case I am being debited the full monthly premium (note the entire premium, not commission) that is due from the client(s). None, as far back as a year ago, have been offset by a credit.
I have tried to get an explanation from United American but they keep talking around the issue. Now I have been so completely stonewalled that even the Region Director says I have to write to their legal department.
Obviously, no agent is liable for a policy holder's premium. Obviously, commission adjustments labeled Premium Shortage and placed under Miscellaneous Adjustments are a bit suspect. But even then, I would expect a simple explanation and correction.
I have a background in finance. I understand accounting very well and have found accounting errors in commission runs from other companies twice in the past year +. On both occasions I simply talked to accounting and the issue was resolved while I was on the telephone. But United American does not let agents talk to accounting and their explanations emailed via a third party completely avoid explaining "Premium Shortage" and it seems no one else at the company is listening.
Anyway. Anyone else ever noticed this? Was it resolved? It's easy to miss on the monthly run. It might be worth checking.
