FE Chargeback Question

[foxmarble]

Hi Guys,

I have a quick question or two about this Kemper Graded DB FE product:

1. Is this a good FE company or am dealing with yahoos?

2. This seemed fishy on the commission scheduale can anyone tell me if is standard practice in graded death benefit products?

"* Initial commission for Form MWL-97 Life policy is subject to 100% chargeback if a death benefit claim occurs during months 1 through 6 following policy

effective date, or subject to 75% chargeback of initial commission if a death benefit claim occurs during months 7 through 12 following policy effective date"



Thanks pros!

 

[Todd King]

Yes, GI products will chargeback like that. Otherwise you would have "yahoos" going into nursing homes selling it!

 

[Iwillpay]

They return the premium paid if death occurs, so it is reasonable if the have charge backs.

 

[foxmarble]

Awesome...makes sense and thanks for your quick response! I appreciate your info!

What do you think about Kemper? Is there a paticular FE carrier you recommend I work with?

 

[jdeasy]

They return the premium paid if death occurs, so it is reasonable if the have charge backs.

Then why don't companies chargeback for all deaths if that's reasonable?

I don't find it reasonable at all. That's another reason I don't sell any GI stuff. Why should the agent be the one that takes all the risks?

 

[Todd King]

There are several FE carriers that you should have, but Kemper is only for GI. Were you only asking about GI?

 

[foxmarble]

There are several FE carriers that you should have, but Kemper is only for GI. Were you only asking about GI?

No if there is another carrier that i should be using for the non gi clients im all ears.

 

[Todd King]

Give me a call sometime and we'll talk. I can tell you that there are several you should have, like RNA, Monumental, probably Americo, and 5 Star. Those are some of the ones I carry.

 

[foxmarble]

Ok great will do... thanks for the help.

 

[xrac]

Ok great will do... thanks for the help.

Todd will steer you in the right direction.