Cash W. App or Draft 1st Premium?

[rousemark]

What is an NT? (kinda wish messages didnt have to be 20 characters)

Not taken.. it is where a policy is issued as apllied but the client refuses to accept it or returns it during the free look provision.. Bye, Bye commission.. Hello charge back!

 

[jdeasy]

I prefer to get checks but it's so much easier for me to have them drafted.

If I get a check I have to mail it in. Drafting I can fax.

 

[rousemark]

I am in the minority it seems. I collect 90% of the time. I will only draft if they request it. I used to draft if they wanted but I have noticed a decrease in my NTs.

Does anybody else notice a difference in their placement rate based on collecting or drafting the first premium? I can't say that I have.

 

[MGA]

Collecting a check has a better placement than drafting for sure. Every 7 days out for the initial draft has a lower placement rate.

 

[jdeasy]

Does anybody else notice a difference in their placement rate based on collecting or drafting the first premium? I can't say that I have.

Never been a difference for me. They either want the insurance or they don't.

 

[gordon112]

Never been a difference for me. They either want the insurance or they don't.

I agree, welcome back JD.

It was always collecting the premium first, then do the bank draft. Now, it is more convenient to just draft as the companies changed with the times. I don't see a difference so far in placement. Matter of fact, my placement is better then it used to be when I picked up the first payment with ap.

 

[MGA]

JD
Your comment that you don't see a difference in placement rates when you collect a check vs initial withdrawal is like you stating you don't see a difference in your persistency when you roll your own business from one company to the next.

 

[jdeasy]

I agree, welcome back JD.

It was always collecting the premium first, then do the bank draft. Now, it is more convenient to just draft as the companies changed with the times. I don't see a difference so far in placement. Matter of fact, my placement is better then it used to be when I picked up the first payment with ap.

It seems I have a stalker. A troll that doesn't write business but wants to try and discredit those that do.

 

[gordon112]

It seems I have a stalker. A troll that doesn't write business but wants to try and discredit those that do.

It seems you do, and he responded to this thread knowing that his placement with LH is always in question and are trying to find ways to get better placement. Isn't this the company (LH) that sells a funeral package "help" plan when you can get the same info for free?

 

[JimmyUt]

JD
Your comment that you don't see a difference in placement rates when you collect a check vs initial withdrawal is like you stating you don't see a difference in your persistency when you roll your own business from one company to the next.

The only reason yours may differ is because you sell a crappy overpriced product. I have drafted all but 1 policy in the 4 years I have been doing this and rarely if ever have had a not taken.