Transamerica 10 Day Rule

[noah]

I have been told that on Agentnetinfo.com the SSB training Power Point presentation is incorrect.

The way their training webinar,Power Point explains,they need 10 business days from the payors next deposit to set up SSB billing.

Seems like they are now going by an effective date of the 28th. To my understanding,they need 10 business days prior to the effective date (28th) to set up the SSB form.

Anybody else out there had an issue with this ?

 

[HoosierLife]

I have been told that on Agentnetinfo.com the SSB training Power Point presentation is incorrect. The way their training webinar,Power Point explains,they need 10 business days from the payors next deposit to set up SSB billing. Seems like they are now going by an effective date of the 28th. To my understanding,they need 10 business days prior to the effective date (28th) to set up the SSB form. Anybody else out there had an issue with this ?

10 days has always been the case in my experience.

 

[sirherbie]

Yes they need 10 business days or it shifts to the following month. So if you write somebody with a 1st or 3rd draft from the 22nd on I'd tell them the draft will happen the filling month . I used to wonder how snl did it in a day or 2 . Trans told me they actually send a confirm thru the social security system to match up the correct pay dates. Hey it works as their drafting has been excellent on #SS days.

 

[jdeasy]

Yes they need 10 business days or it shifts to the following month. So if you write somebody with a 1st or 3rd draft from the 22nd on I'd tell them the draft will happen the filling month . I used to wonder how snl did it in a day or 2 . Trans told me they actually send a confirm thru the social security system to match up the correct pay dates. Hey it works as their drafting has been excellent on #SS days.

If excellent means screwing it up almost every month and totally screwing it up twice in the 9 months they have been doing it?

Then yes, if that passes for excellence.

No other company needs 10 days. It takes Trans 10 days to answer a damn phone call.

Trinity/FBL does the best job of all the SS paydate draft companies. They don't need 10 days. If I wrote one today that's a 4th Wed draft then they will be drafted next wed, the 23rd.

To answer the OP, yes, there's a Trans 10 day rule. If the first draft is within 10 days of approval then it will shift to the following month. That's only if using the SSB form. If you are using the regular draft form then there is no Trans 10 day rule.

 

[sirherbie]

Lol Jd I think this is something I have 50 times more experience than you with hands down. Its been awesome for me as i'm near 100 ss billings with Trans and I can hardly think of one screwup period. the majority on this board feels the same way about Trans SS billing. As far as answering the phone I've never had a problem. They have lightning quick issuance. I truly believe your beef with them stems from you inability to fill out the app correctly and getting amendments. I think I've gotten 2. Somebody sure likes them as i'm sure they're now the #1 final expense carrier around.Like I said if somebody says go right you say go left. Being how negative you are i'm shocked you've done so well in Fe.

 

[noah]

If excellent means screwing it up almost every month and totally screwing it up twice in the 9 months they have been doing it?

Then yes, if that passes for excellence.

No other company needs 10 days. It takes Trans 10 days to answer a damn phone call.

Trinity/FBL does the best job of all the SS paydate draft companies. They don't need 10 days. If I wrote one today that's a 4th Wed draft then they will be drafted next wed, the 23rd.

To answer the OP, yes, there's a Trans 10 day rule. If the first draft is within 10 days of approval then it will shift to the following month. That's only if using the SSB form. If you are using the regular draft form then there is no Trans 10 day rule.

I am talking about the 10 day rule that has apparently changed. I submitted one on the 15th and was told that the 10 days had to be within the effective date of the 28th,even though option B was checked on the form and the PI gets paid on the 3rd which allowed plenty of time to meet the 10 day rule.

After digging in,calling customer service,the upline,we learned things have changed.

 

[jdeasy]

I am talking about the 10 day rule that has apparently changed. I submitted one on the 15th and was told that the 10 days had to be within the effective date of the 28th,even though option B was checked on the form and the PI gets paid on the 3rd which allowed plenty of time to meet the 10 day rule.

After digging in,calling customer service,the upline,we learned things have changed.

it never had to do with submission. It's from approval date.

 

[sirherbie]

Trans dates all policy's with a 3rd effective date the 28th. All I Know if I write a trans after the 20th with a 3rd effective date I always set up for the following month.

 

[jdeasy]

Lol Jd I think this is something I have 50 times more experience than you with hands down. Its been awesome for me as i'm near 100 ss billings with Trans and I can hardly think of one screwup period. the majority on this board feels the same way about Trans SS billing. As far as answering the phone I've never had a problem. They have lightning quick issuance. I truly believe your beef with them stems from you inability to fill out the app correctly and getting amendments. I think I've gotten 2. Somebody sure likes them as i'm sure they're now the #1 final expense carrier around.Like I said if somebody says go right you say go left. Being how negative you are i'm shocked you've done so well in Fe.

You are either lying again or just completely stupid.

You know damn well Trans had a major screw up on the DE drafts in April and even waived premiums.

Then they notified us all of a screwup at the end of July. Maybe you don't do enough business to get notified?

And I don't have a "beef" with them. I just give the facts and they are a company that makes my job harder.

I've never had an amendment with them over something not filled out on the app.

I've had amendments with them because they couldn't read the birthdate of the contingent beneficiary because it had been faxed twice. They would accept new page one even though it's not a signature page. I know of many agents that have had amendments over stupid stuff like that.

So what if they write a lot of business? LH claims to be the number 1 too and they suck more than Trans.

You can all the sunshine you want. The FE agents that deal with them know the real story.

 

[noah]

it never had to do with submission. It's from approval date.

If you go to agentnetinfo and hit the tab for SSB form training,you will see 2 options for learning and understanding the form.

1.Webinar
2.Power Point

Choose option 2,Power Point,go ahead and open it up.

There is a highlighted box in chapter 5 that says "if the SSB deposit date is within 10 days of the application date go to the next month for the initial draft date".

When I called CS I was told on the phone that it from the date they log it into their system.

There is nowhere in that webinar,Power Point that says the effective date is the 28th.

Wonder where Sirherbie picked up on the 28th ?