Genworth Cont. Life Commission Games

[HealthGuy]

Anyone else having this issue? Another agent friend and me have encountered two things regarding old Continental Life Med Sup renewal business that is still paid to us direct from Genworth (when Aetna took over this Continental Life business from Genworth, they continued to have Genworth pay commissions on this old block of business....) Here is the crap Genworth is trying to pull:

1. Completely NOT PAYING renewal commissions...they stopped paying me on all my old business stating that it was an "error" and they incorrectly terminated my commissions because I wasn't a vested agent (which I was). And

2. Just randomly stopping renewal payments on random clients with policies that are still active and on the books.

Aetna should NOT have allowed this old Continental Life business to continue to be paid commisssions through Genworth, but they have.

Anyone else experiencing Genworth pulling commission games on their older Continental Life Medicare Supplement business?

Let it be known..I have posted this as a public service warning to agents that frequent here...CHECK YOUR commission statements because they are likely trying to screw you too.

 

[sman]

Guess I'll be looking at my commission statements to make sure. I really need to do a better job of checking this stuff.

 

[policy doctor]

I was skunked on a life commission renewal by Cont'l back in the day when they were still indy under Baskins. Same crap....not vested. I did not have a lot of business with them at the time.

Haven't sold a thing for them once they pulled that on me and just watched as they kept being sold from one carrier to another.

Sorry for your trouble....these companies probably make millions from latent renewals with their weasel clauses. That's why I read that contract clause about renewals and service fees and minimums to get a check and the other malarkey.

 

[sman]

Went back and checked mine and they all have been paid. As I was reviewing these I got to thinking that I may not have written any prior to Aetna taking over. My oldest case was issued 07/01/2012. I don't recall when the merger took place.

 

[rousemark]

I was skunked on a life commission renewal by Cont'l back in the day when they were still indy under Baskins. Same crap....not vested. I did not have a lot of business with them at the time.

Haven't sold a thing for them once they pulled that on me and just watched as they kept being sold from one carrier to another.

Sorry for your trouble....these companies probably make millions from latent renewals with their weasel clauses. That's why I read that contract clause about renewals and service fees and minimums to get a check and the other malarkey.

Yeah.. I remember the Baskin days, when CLI was one of my primary companies. They applied a "service fee" against the agent renewals after termination. We all "assumed" it was a percentage of the commission.. turned out it was a percentage of the premium.. a policy could actually cost the agent money if it remained on the books... Not sure the current management is any better than the old from what I am hearing.