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When you put it that way, it doesn't sound nearly as crazy. It works for ROP term - interesting idea.
So if a carrier (either P&C or Life & Health) returned the premium because a policy did not have to pay, does that mean you would also be OK with returning your commissions?
Because after all, me as a customer purchased a policy from you that I didn't use!
So if a carrier (either P&C or Life & Health) returned the premium because a policy did not have to pay, does that mean you would also be OK with returning your commissions?
Because after all, me as a customer purchased a policy from you that I didn't use!
"Less crazy" and "interesting" don't necessarily mean "good."
For example, "Jack went to the mental hospital after trying to off herself four or five times. Since he got out, he's only OD'd once. He's less crazy and has some interesting stories."
Dave, I drew the ROP analogy in my mind based on your description because ING will automatically convert your ROP value into paid-up insurance if you're about to lapse. I see what you're getting at now, though.
BTW, that is exactly what is going to happen with health insurance under Obama-mama care. 80% MLR or refund the surplus. Goes into effect in six months. Do you think that any health insurance company would charge agents back for not meeting 80% MLR and having to issue a refund?
If it did, two things would likely happen.Its going to be a brave new world. I'm not suggesting it would happen, but aren't you going to hate yourself if something like this happens?
If it did, two things would likely happen.
1. Sales would plummet for three years (no new blood) and,
2. NFP carriers would probably fat cat off of agents, at least in CA.