- 5,778
I have a GI and a level that went modified on my desk as I type. Neither of them took a week.
Perhaps they give bald guys preferential treatment.
Perhaps they give bald guys preferential treatment.
Wellabe FE from Great Western
- Thread starter Steve Lombardo
- Start date
- 18,988
How long did it take to get the "instant decision' on the one written as level but offered modified?I have a GI and a level that went modified on my desk as I type. Neither of them took a week.
Perhaps they give bald guys preferential treatment.
- 1,763
Writing a GI policy the other day and when I get to the step to put in the banking information,their verification system rejects the bank account. A box pops up and instructs you to get an alternative bank account to pay for it. They give you 2 more tries and then you can either abandon the application or save it. I ended up having to walk as they are the the only company I write GI with.
A real pain in the ass.
How about putting the bank account information on page 1 of the app instead of having the agent find out the bank account isn’t verified until the last page ?
Another agent from my agency is going to write him AGL or Gerber.
This happened a couple months ago and you could put the debit card in there to get it issued and then call them after it issues with a valid bank account. They no longer accept credit cards for the first premium so it’s no longer an option.
I had written the spouse with another company while I’m there using the same account and it verifies perfectly.
Went ahead and called agent support and talked with Mary. She tells me that they know there’s a problem with the company they are using to verify accounts. The system does not recognize many small banks and credit unions. According to her,this system was implemented because agents were submitting multiple applications with fake account numbers and getting paid on issue.
Anybody else writing them have this happen ?
A real pain in the ass.
How about putting the bank account information on page 1 of the app instead of having the agent find out the bank account isn’t verified until the last page ?
Another agent from my agency is going to write him AGL or Gerber.
This happened a couple months ago and you could put the debit card in there to get it issued and then call them after it issues with a valid bank account. They no longer accept credit cards for the first premium so it’s no longer an option.
I had written the spouse with another company while I’m there using the same account and it verifies perfectly.
Went ahead and called agent support and talked with Mary. She tells me that they know there’s a problem with the company they are using to verify accounts. The system does not recognize many small banks and credit unions. According to her,this system was implemented because agents were submitting multiple applications with fake account numbers and getting paid on issue.
Anybody else writing them have this happen ?
Sounds like business prevention to me. I quit writing them a while ago. Gerber is cheaper and easier to work with, since they accept cards and have a better eapp.
- 1,763
Wrote one today and thank god the insured had a Chase bank account that verified.
Unless Gerber has really good SS Billing,GI on cards has horrible persistency.
That’s one reason GW canned cards. They should have gotten true SS billing.
Can you do an electronic signature with Gerber that’s identical to GW’s electronic signature?
Unless Gerber has really good SS Billing,GI on cards has horrible persistency.
That’s one reason GW canned cards. They should have gotten true SS billing.
Can you do an electronic signature with Gerber that’s identical to GW’s electronic signature?
It’s funny you say persistency and G i credit cards/ direct express . A while back I looked at my Aig and Gerber book over the last 10 yrs . I bet 60% of the direct express lapsed in the first 12 months . With ss billing direct express doesn’t work
- 1,763
The only company I’ve had any decent persistency with cards is Trans. The only lapses are usually when the insured gets a new card and doesn’t get in touch with me to help them update the card information as Trans makes it very difficult for the insured to keep the policy going by not having an option for the insured to update the card with a phone call to customer service.
They can’t even bother to cut down on hold times for clients,agents,calling in to make necessary changes to keep the policy on the books.
I bet they lose 20% of business after the 1st year at a minimum because people don’t have time,patience to wait on hold.
Sheer stupidity.
Haven’t wrote trans in 3 plus yrs .Had a client with 9 yr old trans policy call me last week .Trans never withdrew her money . She’s never missed a payment . She was super frustrated as she tried to call and was on hold for over an hr and the phone hung up. I was honest with her I no longer have anything to do with them. One of only carriers that won’t let client redraft over phone . Honestly I don’t blame carriers for not taking de cards . Sure billing ss billing will keep some on . But people lose there cards at times .That’s were the problem comes . Many can’t afford a double draft .
- 1,763
Agents are trained that the quality of business they write and their prompt agent service factor highly in their persistency when the fact is the company's complete lack of care for the policy holder and agent determines persistency.
Had a 10 year Trans policy holder call me yesterday complaining about their hold times ask me for the policy number.
You know what's coming next.
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