Assurance/Lumico Experience?

Aug 24, 2018

  1. rousemark
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    rousemark Still Here!

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    Say what? Most companies only charge back the unearned commission on lapses/.. If you are advanced 9 month and it pays five months, you are only charged back the 4 months you didn't earn.
     
  2. garzawin
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    garzawin Expert

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    i think you're on the hook only for 4 months instead of 9 months like others. so you're exposed less. right? that's pretty good.
     
  3. Todd King
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    Todd King IMO/FMO Owner

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    Yep, less exposure, less money, less chance of survival in this game. In this case, less definitely is not more!
     
  4. WinoBlues
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    WinoBlues Guru

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    "" i think you're on the hook only for 4 months instead of 9 months like others. so you're exposed less. right? that's pretty good.""

    No.

    Patrick would be -$1,100.00

    Wino would be +$2,000.00

    Which one would you choose?
     
  5. Todd King
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    Todd King IMO/FMO Owner

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    Oh! OH! OH! Me, me, me! I wanna be a Wino!
     
  6. WinoBlues
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    WinoBlues Guru

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    <Poof!>

    You're a a Wino!
     
  7. garzawin
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    garzawin Expert

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    Not really. $100 monthly prem

    $100 x 225% (1 month prem) = $225. After 5 months zero charge back
    $100 x 100% (9 months advanced) = $900. After 5 months still owe $400. Right?
     
  8. WinoBlues
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    WinoBlues Guru

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    No.

    You are changing the example to 5 months but let's go with that.

    First, is it zero after the 4 months? I may have missed that.

    Now it is 225% not 220%?

    In your example - yes, you would keep your $225.

    I would keep my $500.00 and if I reinstated or rewrote it I would keep my $1,200.00. But yes you keep your $225.

    Wino Wisdom!
     
  9. garzawin
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    garzawin Expert

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    haha. i guess. but if they lapsed once they may lapse again.
     
  10. WinoBlues
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    WinoBlues Guru

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    Just curious, How long have you been in the business?
     
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