damadcrapper
Super Genius
- 166
Pros and cons of selling this way?
Are there any carriers who accept credit cards for the initial FE Premium?
- Thread starter damadcrapper
- Start date
tribetime32
Guru
- 377
I believe Omaha does this and maybe a couple others. I would only do this if the client were willing to pay at least 6 months up front. This is a chargeback waiting to happen.
- 30,577
Prosperity and Sentinel Security.
- 4,872
Senior Life will. Paid as earned.
- 7,012
Baltimore too if I remember correctly.
Doesn't Prosperity only accept a debit card connected to a bank account now or DE? I'll have to check the eApp next time I write it, but I thought they stopped doing credit cards.Prosperity and Sentinel Security.
- 30,577
I just picked them up, but on the Fact Sheet it says under billing options they'll take Direct Bill (no monthly), EFT and Credit Card (Visa and MasterCard only).
In the Agent Guide it says they accept EFT, Direct Express or Direct Bill (excluding monthly).
The Fact Sheet has a 08/2018 date on it and thd Agent Guide is dated 12/2018. I guess they haven't updated the Fact Sheet.
Be weary of people who lack integrity and only willing to provide half the story.
theinsuranceman represents Senior Life. If I'm not mistaken, he is also in a management capacity. What he did not disclose is that credit card sales are not worth the applications they are written on. Two weeks ago, I acquired 2 agents from SL because no one ever disclosed to them that their commissions would be significantly reduced on cc sales. "How do you mean?", I asked. One of them forwarded me their commission schedule, which shows a revision made based on the new cc sale policy. They both said the company, nor managers ever informed them of these changes. His 80% commission practically evaporates. See attachment
theinsuranceman represents Senior Life. If I'm not mistaken, he is also in a management capacity. What he did not disclose is that credit card sales are not worth the applications they are written on. Two weeks ago, I acquired 2 agents from SL because no one ever disclosed to them that their commissions would be significantly reduced on cc sales. "How do you mean?", I asked. One of them forwarded me their commission schedule, which shows a revision made based on the new cc sale policy. They both said the company, nor managers ever informed them of these changes. His 80% commission practically evaporates. See attachment
You talk like they can't make a living writing the Ultimate Preferred or the 20 Pay at 1% commission....
Oh, and 0% renewals … But those are not really important to the agent's income..You talk like they can't make a living writing the Ultimate Preferred or the 20 Pay at 1% commission....
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