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New to the industry. Wrote my first final expense policy via phone interview ($100). How long does it take to get 9 mo. advance from them ? (Liberty Bankers Life)
Thanks in advance
First time writing a policy too if that makes a difference
New to the industry. Wrote my first final expense policy via phone interview ($100). How long does it take to get 9 mo. advance from them ? (Liberty Bankers Life)
Thanks in advance
First time writing a policy too if that makes a difference
Depends how you are paid on draft or on issue
Fairly confident you are paid on draft, and twenty percent of your advance commission is set aside in an account to pay for future chargebacks.
Trainer told me I was paid on issue
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Fairly confident I'm paid on issue. And I was told to set aside about 20% myself to put into savings.
you were lied to. Perhaps your upline meant another carrier when discussing that 20% should be set aside
Variations Include
-On issue
-On draft
I'd have your upline help you review which pays which way.