The SNL webinar today was on quality business. Tommy O said the company wide 13 month persistency was 86% and the 25 month was around 65% which seems respectable.. However, he siad NTOs ran almost 25%. They count it a little different becasue the include the ones that do not pay a second premium in addition to the ones that are not taken on delivery or do not pay the first premium. I just find it hard to believe that agents are experiencing 1 out of every four policies issued being NTOed or lapsing without paying a second premium. Seems extremely high. Are FE agents really experiencing this level of charge back exposure?
What is Your Experience with FE NTOs?
- Thread starter rousemark
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- 5,263
SNL probably gets the lion's share of deadbeat DE/CC business which drives that number way up relative to other carriers.
- 16,912
They don't do POS decisions so they have some percent that don't get approved as written. That would add to it.
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