Cica’s new chargeback rules

[DonP]

But cica’s drafting is not good and if you take direct express or other credit cards it’s a danger

what does this mean drafting is not good? seems simple to me, do they draft more then premium or change amounts or something

How could drafting be not good

Vic you need to study a little more . Cica does not have true social security billing . For me and many agents it’s been very important . Social security billing insurances the moneys taken on the day the client gets his check . Sbli does this . Cica does not . But social security billing is critical for direct express and credit cards . The reason being those clients have those cards because they got kicked off checking acccounts with nsf charges they never paid . In other words these clients are bad payers . So if you write a direct express client with no true statement security billing you asking for charge back hell . I’ll 100% give you advise always try to write fe over the phone with CO’s that do ss billing. Cica drafting not good means if there supposed to draft the 6 th I’ve seen the 9th happen . If the 3rd falls on a sat the client gets his check on Friday the 2 nd . Cica should draft on Monday the 5 th . I’ve seen them draft the 6 or 7 th. Many times that could be a nsf

 

[vic120]

Vic you need to study a little more . Cica does not have true social security billing . For me and many agents it’s been very important . Social security billing insurances the moneys taken on the day the client gets his check . Sbli does this . Cica does not . But social security billing is critical for direct express and credit cards . The reason being those clients have those cards because they got kicked off checking acccounts with nsf charges they never paid . In other words these clients are bad payers . So if you write a direct express client with no true statement security billing you asking for charge back hell . I’ll 100% give you advise always try to write fe over the phone with CO’s that do ss billing. Cica drafting not good means if there supposed to draft the 6 th I’ve seen the 9th happen . If the 3rd falls on a sat the client gets his check on Friday the 2 nd . Cica should draft on Monday the 5 th . I’ve seen them draft the 6 or 7 th. Many times that could be a nsf

Yes it is not what I am used to I am used to Medicare,

AARP will take out on the 4th and some carriers allow you to pick the day

Cant it be done that way?

I am not actually doing it yet, I am hoping to get all contracting approved by next week

and I dont know I will be ready for another week at most to get all the info clear in my head

 

[DonP]

Yes it is not what I am used to I am used to Medicare,

AARP will take out on the 4th and some carriers allow you to pick the day

Cant it be done that way?

I am not actually doing it yet, I am hoping to get all contracting approved by next week

and I dont know I will be ready for another week at most to get all the info clear in my head

Yes they will take on forth . If your writing fe on clients that’s different . But if your working leads you want to match up the withdrawal to the date they get paid .Remeber a face to face agent can save a nsf by showing up at their door if they don’t answer the phone . You’re at the mercy if they answer the phone . Then you’re asking a low income person to allow the company to take 2 drafts the next month . Tough to do that’s why drafting correct crucial

 

[rousemark]

I got a charge back of 2 months on a cica as earned direct express death claim 2 months ago . Guy paid 2 premiums . 4 months later in May I got a chargeback. I’ll have to call and check why they charged back .

Sounds like they denied the claim and rescinded the policy.

 

[jdeasy]

Vic you need to study a little more . Cica does not have true social security billing . For me and many agents it’s been very important . Social security billing insurances the moneys taken on the day the client gets his check . Sbli does this . Cica does not . But social security billing is critical for direct express and credit cards . The reason being those clients have those cards because they got kicked off checking acccounts with nsf charges they never paid . In other words these clients are bad payers . So if you write a direct express client with no true statement security billing you asking for charge back hell . I’ll 100% give you advise always try to write fe over the phone with CO’s that do ss billing. Cica drafting not good means if there supposed to draft the 6 th I’ve seen the 9th happen . If the 3rd falls on a sat the client gets his check on Friday the 2 nd . Cica should draft on Monday the 5 th . I’ve seen them draft the 6 or 7 th. Many times that could be a nsf

SBLI doesn't draft on SS billing days. But that's the only option they offer.

They used to draft well. They no longer do.

 

[jdeasy]

I would suspect if they charge back 100% that would not change for as earned or advance

I am supposed to be as earned, though it shows I am 6 month advance but I am told you get approved first and they submit request after and its in process

But there are several reasons I want to be as earned it fits my buis model best at this time

I'm as earned with everyone. SBLI charges me back if they don't pay 4 months. That's what CICA is going to do now.

To be as earned with CICA you have to submit a form to change to as earned or they advance 6 months.

 

[jdeasy]

Sounds like they denied the claim and rescinded the policy.

CICA says they don't charge back earned money on deaths. They even advertise they don't.

 

[jdeasy]

Yes it is not what I am used to I am used to Medicare,

AARP will take out on the 4th and some carriers allow you to pick the day

Cant it be done that way?

I am not actually doing it yet, I am hoping to get all contracting approved by next week

and I dont know I will be ready for another week at most to get all the info clear in my head

Do you not know what SSB is?

Most companies don't draft properly anyway.

A handful claim to have true SSB. But only a couple actually do.

Almost every company allows you pick the draft date the 1st thru the 28th.

But it doesn't matter if you pick the 15th and they draft on the 18th.

I have a policy with kskj that drafts on the 15th. Or did. Before they went to the TPA it drafted every month on the 15th like clockwork. Unless it fell on a weekend. Since they went to the TPA it's never once drafted on the 15th. Doesn't matter to me. But I am not my people.

But overall draft days have never been a problem for me. I don't care about it being exact and it's never been a problem. Except on DE payers. It is extremely important for DE payers to be drafted on SSB.

That's sketchy business anyway. There's a reason that the person has the DE. And those reasons are not good for our business.

CICA takes the DE but doesn't have SSB. They draft a day or two late on all business as it is. But just like this upcoming month. The 3rd is on Saturday. 3rd recipients will get paid on August 2nd. CICA won't even attempt to draft until Monday, August 5th. Only your very disciplined DE payers will leave the money there. If they had that kind of discipline they wouldn't have the DE card anyway.

 

[vic120]

Do you not know what SSB is?

Most companies don't draft properly anyway.

A handful claim to have true SSB. But only a couple actually do.

Almost every company allows you pick the draft date the 1st thru the 28th.

But it doesn't matter if you pick the 15th and they draft on the 18th.

I have a policy with kskj that drafts on the 15th. Or did. Before they went to the TPA it drafted every month on the 15th like clockwork. Unless it fell on a weekend. Since they went to the TPA it's never once drafted on the 15th. Doesn't matter to me. But I am not my people.

But overall draft days have never been a problem for me. I don't care about it being exact and it's never been a problem. Except on DE payers. It is extremely important for DE payers to be drafted on SSB.

That's sketchy business anyway. There's a reason that the person has the DE. And those reasons are not good for our business.

CICA takes the DE but doesn't have SSB. They draft a day or two late on all business as it is. But just like this upcoming month. The 3rd is on Saturday. 3rd recipients will get paid on August 2nd. CICA won't even attempt to draft until Monday, August 5th. Only your very disciplined DE payers will leave the money there. If they had that kind of discipline they wouldn't have the DE card anyway.

What % of the buis ends up being DE?

 

[DonP]

Do you not know what SSB is?

Most companies don't draft properly anyway.

A handful claim to have true SSB. But only a couple actually do.

Almost every company allows you pick the draft date the 1st thru the 28th.

But it doesn't matter if you pick the 15th and they draft on the 18th.

I have a policy with kskj that drafts on the 15th. Or did. Before they went to the TPA it drafted every month on the 15th like clockwork. Unless it fell on a weekend. Since they went to the TPA it's never once drafted on the 15th. Doesn't matter to me. But I am not my people.

But overall draft days have never been a problem for me. I don't care about it being exact and it's never been a problem. Except on DE payers. It is extremely important for DE payers to be drafted on SSB.

That's sketchy business anyway. There's a reason that the person has the DE. And those reasons are not good for our business.

CICA takes the DE but doesn't have SSB. They draft a day or two late on all business as it is. But just like this upcoming month. The 3rd is on Saturday. 3rd recipients will get paid on August 2nd. CICA won't even attempt to draft until Monday, August 5th. Only your very disciplined DE payers will leave the money there. If they had that kind of discipline they wouldn't have the DE card anyway.

I thought sbli has true ssb? Many of the talking heads say they do . So really only am am , liberty bankers , rna , Trinity have it now . Prosperity ,columbian and lumico ( I think had ) are gone now