Final Expense Payment Cycle

[insuremeplz]

Hello,

I'm not new to insurance but I am possibly looking into switch into final expense. One big question mark is how long it takes to start seeing cash flow when I first start up.

Can someone give me an idea of how long it takes from day one for business to transact? From sending my first batch of mail, to writing the policy, to getting through underwriting, to seeing my advance post to my account. Is it over a month? Two months?

Thanks.

 

[SPUR CITY]

Hello, I'm not new to insurance but I am possibly looking into switch into final expense. One big question mark is how long it takes to start seeing cash flow when I first start up. Can someone give me an idea of how long it takes from day one for business to transact? From sending my first batch of mail, to writing the policy, to getting through underwriting, to seeing my advance post to my account. Is it over a month? Two months? Thanks.

Feel free to call me to answer your questions. Sometimes its easier to knock out these type questions by phone

 

[biggies]

Feel free to call me to answer your questions. Sometimes its easier to knock out these type questions by phone

Uh ohhhhhhhhhhhhhhhh

 

[Glen Shelton]

Hello, I'm not new to insurance but I am possibly looking into switch into final expense. One big question mark is how long it takes to start seeing cash flow when I first start up. Can someone give me an idea of how long it takes from day one for business to transact? From sending my first batch of mail, to writing the policy, to getting through underwriting, to seeing my advance post to my account. Is it over a month? Two months? Thanks.

Depends on the carrier and the IMO. I will give you a rough estimate for giggles.

So if you drop mail, that takes 3-5 weeks to start getting the mail back and then from the time your write the application and submit it, Usually these carriers have the application approved or denied in about 2 business days (depends on the carrier). you should have money in the bank pretty quickly about 1 - 3 days after approval. Waiting on mail drops is really the only thing that takes a while.

 

[Newby]

Hello, I'm not new to insurance but I am possibly looking into switch into final expense. One big question mark is how long it takes to start seeing cash flow when I first start up. Can someone give me an idea of how long it takes from day one for business to transact? From sending my first batch of mail, to writing the policy, to getting through underwriting, to seeing my advance post to my account. Is it over a month? Two months? Thanks.

1-week for your company agent number for the fast companies. Two weeks on others.

3-weeks on direct mail leads. 3-5 days for telemarketed leads.

Some companies pay on approval. So money coming in a couple days after you start sending in applications.