Cica’s new chargeback rules

[DonP]

What % of the buis ends up being DE?

Depends were your working . In inner city it’s going to be heavy . I’d say 10% of people have de cards . Honestly there’s few carriers that take . You got the gi carriers Aig and Gerber take . Outside that only cica , Cincinnati equitable and Family benefit take ( only 20% of your business can be) . I’d be shocked if cica doesn’t pull credit card business . Sbli had and pulled it

 

[jdeasy]

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

They claim to have true SSB. And only have SSB dates to offer. But they do not draft on the dates. They used to. I had one to start July 3rd. They didn't even attempt to draft her until the 5th. Many agents complaining about their drafting now. That's a this year thing. I never even heard of an SBLI drafting issue until the last several months.

The only companies truly doing SSB drafting are Trinity and Trans. Maybe AmAm does?

The rest just lie about it.

 

[jdeasy]

What % of the buis ends up being DE?

No idea. I don't track minutia.

 

[DonP]

They claim to have true SSB. And only have SSB dates to offer. But they do not draft on the dates. They used to. I had one to start July 3rd. They didn't even attempt to draft her until the 5th. Many agents complaining about their drafting now. That's a this year thing. I never even heard of an SBLI drafting issue until the last several months.

The only companies truly doing SSB drafting are Trinity and Trans. Maybe AmAm does?

The rest just lie about it.

Yes am am true ssb drafting and spot on. Why do you say rna not true ssb? I’ve used a lot in past and never issue with drafting as they draft correct. Although i don’t write it all say Lbl does true ssb drafting

 

[jdeasy]

Yes am am true ssb drafting and spot on. Why do you say rna not true ssb? I’ve used a lot in past and never issue with drafting as they draft correct. Although i don’t write it all say Lbl does true ssb drafting

Those companies don’t always draft on time.

Like SNL. They always claimed to have true SSB and would bent out of shape if you said they didn’t.

But they didn’t.

 

[goillini52]

I know they are high on cica and SBLI so I am wanting to know more

I mean that CICA might be showing early signs of being the next FE carrier to exit FE.

 

[DonP]

I mean that CICA might be showing early signs of being the next FE carrier to exit FE.

Think about it . For all intent purposes a Gi product with some of the best level smoker rates out there

 

[Rick Lee]

Everyone had to know CICA was a short-term thing. Ride that train, but know it's not going to keep on going. I look at it like GI that pretends to offer level coverage. Now I will try to steer clear. Even before this announcement, I viewed CICA commission deposits as scratch-off lottery tix. It's bad enough that their drafting sucks, but they don't tell agents when something bounces. You have to proactively police that stuff, which is not real easy when they'll make 7-8 attempts before they consider it a missed payment.

 

[DonP]

Everyone had to know CICA was a short-term thing. Ride that train, but know it's not going to keep on going. I look at it like GI that pretends to offer level coverage. Now I will try to steer clear. Even before this announcement, I viewed CICA commission deposits as scratch-off lottery tix. It's bad enough that their drafting sucks, but they don't tell agents when something bounces. You have to proactively police that stuff, which is not real easy when they'll make 7-8 attempts before they consider it a missed payment.

Funny you say that . You can see on the portal as they try day after day to draft . I noticed that on credit cards . Do they do that with checking accounts ? If so that’s mass nsf charges . I put business there I could put nowhere else . It was quasi Gi type business . Yep it’s 30% less than Aig Gi . When I saw the death claim form I knew what type outfit they are . If you only want your premiums can check here and we won’t invistigate .

 

[Rick Lee]

My faith in CICA was shaken by my first death claim experience. Husband and wife were heavy smokers, but with no other health issues (yet). About four mos. in I get an email from CICA that the wife had called in to cancel. I replied, asking if she had also canceled her husband's policy or just hers. They replied just hers. I called the wife and asked WTF. She said her husband had died (total surprise, unrelated to any preexisting condition), she went to file a claim and CICA told her she'd get her ROP faster by just signing this form. She didn't know any better, so she did. And she figured it was an ROP or GI company, so no point in keeping her policy. CICA never told me this, but they knew it when I asked. I told the wife this was a totally legit claim and she needed to see it through. She wanted me to rewrite her and help her with the claim. Still ongoing, but I think they will pay this. If they don't, well, I'll write her elsewhere. But they will then be a truly GI-only company to me.