AIG Chargebacks....by the Way

[Norwayguy]

You'd go broke. The insured would outlast the agent.

Yes you would I could see some devious imo working something like that in to the contract.

 

[BYSFG]

If the client dies within 20 years of getting the policy - it charges back . . .

Plus - they don't advance . . .

Really now, you don't say.

 

[Todd King]

50 y/o male ns - $10k

AIG = $51.92

GW = $59.58

Both ROP + 10%

GW may give them addt 20% DB

I can't find my schedule - but I think GW has friendlier chargebacks?

Yes, GW may give the an additional 20%, but only on 1st day coverage. Which is why I said you only want to use them in that situation. If it's GI, AIG will be cheaper and you get a higher commission.

 

[WholeLife]

AIG recently announced they will not charge back due to lapses in the same manner they were before on their GI policy.

Now, if is lapses during the 1st 6 months they will only charge back 25%. After that there are no chargebacks for lapses.

For death though, it's still the same. 100% chargeback for the 1st year and 50% if the client dies within the 2nd year.

I have not seen this from AIG. Is there an official communication from them on this?

 

[Todd King]

I have not seen this from AIG. Is there an official communication from them on this?

There is, but it also says I can share it in public. I also just got the new commission schedules and they each say it on there.

I guess it wouldn't hurt to post a street level comp grid on here....so......

View attachment AIG-GIWLJ - 80%s -GAs.pdf