Company I am with only accepts ACH draft through routing/account as payment

[manifold]

Is this a standard for everywhere?

I feel like so much money is left on the table with debit cards or other forms of payment for clients. A lot of people don't even have that information on them. I for one don't.

This is for final expense.

 

[eersfan]

Mass Mutual will accept debit, but you still have to have a routing and account number.

 

[manifold]

Mass Mutual will accept debit, but you still have to have a routing and account number.

So is this the normal thing to only take Auto-draft?

A lot of customers have Direct Express.

 

[eersfan]

So is this the normal thing to only take Auto-draft?

A lot of customers have Direct Express.

I don't know it is the new "normal" as most of my clients pay an annual premium.

 

[Newby]

Is this a standard for everywhere?

I feel like so much money is left on the table with debit cards or other forms of payment for clients. A lot of people don't even have that information on them. I for one don't.

This is for final expense.

For FE you need to pick up TransAmerica. Also Security National and Trinity Life if they are in your state.

You are taking a knife to a gun gight if you try to write FE with only one company.

 

[manifold]

For FE you need to pick up TransAmerica. Also Security National and Trinity Life if they are in your state.

You are taking a knife to a gun gight if you try to write FE with only one company.

I have a few other appointments. The company I'm with only allows ACH routing and account numbers.

 

[Newby]

I have a few other appointments. The company I'm with only allows ACH routing and account numbers.

You mean the agency you are with doesn't allow other payments? Not the insurance company.

Are you with a Final Expense focused agency? Or an agency that kind of does everything?

 

[Baseball7]

You really don’t want to be using credit cards for FEX billing. Is your organization training you on how to do this?

 

[jdeasy]

You really don’t want to be using credit cards for FEX billing. Is your organization training you on how to do this?

I agree about credit cards. But I will write Direct Express all day.

Credit cards should be avoided just like direct monthly. Even though there's a few carriers that will take credit cards for monthly drafts.

 

[FinalExpenseDojo.com]

If you're getting a high amount of direct express you can add an income filter on your leads. That will weed out that biz.

If your agency won't allow an income filter than expect most of your leads to be broke people because it's cheaper to generate leads from the lowest income folks. (0-15k)