How Long Does It Take to Get Paid?

[Mattschmidt]

I look at the DE card as a "loss-leader" type of function when coupled with a well-rounded carrier.

Meaning, if you can offer a DE option coupled with SS benefit payments, I'd think carriers would see an expansion in gross volume not exclusively due to DE.

Well-rounded carriers like United Heritage would get much more play with DE, even on an as-earned basis, as it gives agents more reason to use them as a bread and butter carrier.

Do you think UH will ever enter the DE space? As conservative as they are with there overall business, I would be surprised to see them take this type of business

Just Curious

 

[sirherbie]

I agree as when you work the country you don't get a whole lot of Debit express so its not a main business line.But it sure is nice to write it with confidence when you run into it.In my dealints its seems a lot of younger DI people with De have copd so its nice having Trans who takes it.

 

[Rearden]

Do you think UH will ever enter the DE space? As conservative as they are with there overall business, I would be surprised to see them take this type of business

Just Curious

As you know, United Heritage is far more conservative with growth than many final expense carriers.

Additionally, United Heritage hit its premium growth goals without issue as the product is currently designed.

The Direct Express implementation has been talked about for the last year I've partnered with them, but under the current direction, I very well doubt we'll see it anytime soon.

Not that I can blame them.

However, when I was asked for my opinion, I made it completely clear that Direct Express payments should only be accepted with a billing strategy exactly like Transamerica's in combination with a contact system in place to get updated card information once the card expires.

----------

I agree as when you work the country you don't get a whole lot of Debit express so its not a main business line.But it sure is nice to write it with confidence when you run into it.In my dealints its seems a lot of younger DI people with De have copd so its nice having Trans who takes it.

I'm starting to see more Direct Express business in "the sticks" where I didn't see it two or three years ago, unfortunately.

 

[Mattschmidt]

As you know, United Heritage is far more conservative with growth than many final expense carriers.

Additionally, United Heritage hit its premium growth goals without issue as the product is currently designed.

The Direct Express implementation has been talked about for the last year I've partnered with them, but under the current direction, I very well doubt we'll see it anytime soon.

Not that I can blame them.

However, when I was asked for my opinion, I made it completely clear that Direct Express payments should only be accepted with a billing strategy exactly like Transamerica's in combination with a contact system in place to get updated card information once the card expires.

----------



I'm starting to see more Direct Express business in "the sticks" where I didn't see it two or three years ago, unfortunately.

Thanks for the input. Maybe they'll let your group be part of a "test pilot" program in the future!

 

[Norwayguy]

The problems with Debit express can come in 2 ways. When a card is lost will we be able to get in touch with the people to change the card? And a huge longer term persistency problem that will rear its ugly head is what happens when these cards expire 1-3 yrs down the line? The chances of debit express customers having the same # is suspect and living at the same address 2-3 yrs later is about 25%. So carriers will have hardly made any money after 2-3 yrs. Now the carriers would love lapses at the 5 yr mark to get future claims off the book.A lot of carriers offer the day of week drafting. The problem is with people on Di get paid on the 1st or 3rd and it falls on a sat or sun.

Recurring payments can be pushed to a new card number by VISA.

 

[sirherbie]

Debit express is MasterCard. Do they "push" the #? By push do you mean it automatically seamlessly debits to the new # without changing anything?

 

[jdeasy]

As you know, United Heritage is far more conservative with growth than many final expense carriers.

Additionally, United Heritage hit its premium growth goals without issue as the product is currently designed.

The Direct Express implementation has been talked about for the last year I've partnered with them, but under the current direction, I very well doubt we'll see it anytime soon.

Not that I can blame them.

However, when I was asked for my opinion, I made it completely clear that Direct Express payments should only be accepted with a billing strategy exactly like Transamerica's in combination with a contact system in place to get updated card information once the card expires.

----------



I'm starting to see more Direct Express business in "the sticks" where I didn't see it two or three years ago, unfortunately.

I certainly hope they don't use trans as their model if they do start accepting it. Trans has totally screwed up the drafting twice in the 9 months they have been taking the DE card.

One of those times they waived premiums for the people involved.

And when they do screw up it take almost an act of congress to get it fixed. They just lost two clients because they wouldn't fix their screw ups. We were on the phone with them for the 3rd time and they kept apologizing and saying it was their fault and they don't know why they hadn't done what they agreed to do. Then finally the husband just told them to forget it and don't take another dime from his account for either policy.

I was able to place them elsewhere so I didn't lose them as clients. Only trans did.

Some companies make my job harder. Trans is one of those.


But I do agree that any company that's going to take the DE card has to be able to do the drafts on the SS paydays and also to not allow any other day than the date they are paid.

 

[sirherbie]

That's crazy Jd and another example of YOUR opinion which isn't the consensus on Trans DE,.You base your opinion on 2 cases. I bet I've written around 50-75 De with Trans and hardly had 1 problem. Even on service work I've had zero issues. I've had few problems with issuance either as I fill the apps out correctly 99% of the time. The bottom line they take a lot of ailments,they have fairly good rates,they pay high comp,they require no pos and they've been easy for ME to deal with.In the past i've done a few living promise were they do pos's aftr the app comes in and oxford who's pos suck. Again some people like them but for me they suck. I know you dislike them but to paint a big brush of negativity on them is not true

 

[SPUR CITY]

I'm ready for some good early morning back-and-forth banter until the football games start at 12 so please continue on and I'll sit back and watch.



The 13 second Aldo vs McGregor fight left me wanting to see more fighting

 

[sirherbie]

Speaking of Ufc is Tony ferguson Hispanic? They call him "El coco"I think.