Current FE companies

[jerryrut]

I don’t do much. I’d rather add those folks to my debit collections. I don’t have as many persistency problems with that business if I get it from them directly, either in cash or running the card myself. But if somebody really wants a DE draft, LBL will allow it on a home service contract.

Who do you use for debit and how do you run the card yourself?

 

[shonceman]

Who do you use for debit and how do you run the card yourself?

I use LBL (Liberty Bankers Life) Home Service division. It’s a separate contract from the FE division. I’m contracted on both sides with them.

I have a bank account specifically set up as a premium collection account. I run cards using an app on my iPad. It’s similar to Square, if you’re familiar with them. Mine is from Intuit. They process the transactions and put the money into my collection account. In turn, I pay the premium to the insurance company on a regular bulk collection report.

If I’m face to face with the client, I swipe the card on a reader that works with the app and plugs into the headphone jack.

Some of my debit clients pay me over the phone. In that case, I just type the card info into the app. You can do the same thing on any smartphone or tablet, whether iOS or Android. I pay a % of the transaction, but I make enough on the home service renewals to make it worth doing.

 

[noah]

I use LBL (Liberty Bankers Life) Home Service division. It’s a separate contract from the FE division. I’m contracted on both sides with them.

I have a bank account specifically set up as a premium collection account. I run cards using an app on my iPad. It’s similar to Square, if you’re familiar with them. Mine is from Intuit. They process the transactions and put the money into my collection account. In turn, I pay the premium to the insurance company on a regular bulk collection report.

If I’m face to face with the client, I swipe the card on a reader that works with the app and plugs into the headphone jack.

Some of my debit clients pay me over the phone. In that case, I just type the card info into the app. You can do the same thing on any smartphone or tablet, whether iOS or Android. I pay a % of the transaction, but I make enough on the home service renewals to make it worth doing.

So on the contract side,do the do a good job with SS billing ?

I was told if the 1st falls on a sunday and the insured is paid friday,they will send the draft out to get it paid by the insured's bank friday.

Do you find that true ?

Are they proficient on 2nd,3rd,4th wed's ?

 

[jerryrut]

So on the contract side,do the do a good job with SS billing ?

I was told if the 1st falls on a sunday and the insured is paid friday,they will send the draft out to get it paid by the insured's bank friday.

Do you find that true ?

Are they proficient on 2nd,33rd,4th wed's ?

Not good at all on the 33rd Wednesday

 

[rousemark]

I use LBL (Liberty Bankers Life) Home Service division. It’s a separate contract from the FE division. I’m contracted on both sides with them.

I have a bank account specifically set up as a premium collection account. I run cards using an app on my iPad. It’s similar to Square, if you’re familiar with them. Mine is from Intuit. They process the transactions and put the money into my collection account. In turn, I pay the premium to the insurance company on a regular bulk collection report.

If I’m face to face with the client, I swipe the card on a reader that works with the app and plugs into the headphone jack.

Some of my debit clients pay me over the phone. In that case, I just type the card info into the app. You can do the same thing on any smartphone or tablet, whether iOS or Android. I pay a % of the transaction, but I make enough on the home service renewals to make it worth doing.

Does the home service require a phone interview?

 

[goillini52]

Not good at all on the 33rd Wednesday

What about the 22nd and 44th Wednesdays?

 

[Todd King]

What about the 22nd and 44th Wednesdays?

Same as the 11th Wednesdays I'm sure.

 

[goillini52]

Same as the 11th Wednesdays I'm sure.

My goodness.

 

[jerryrut]

What about the 22nd and 44th Wednesdays?

Fortunately, I haven’t had a request for either of those

 

[shonceman]

So on the contract side,do the do a good job with SS billing ?

I was told if the 1st falls on a sunday and the insured is paid friday,they will send the draft out to get it paid by the insured's bank friday.

Do you find that true ?

Are they proficient on 2nd,3rd,4th wed's ?

I can’t remember if I’ve had anybody drafting for SS Wed billing on a home service policy. I do on the FE side of the house, and never had an issue. The Home Service side allows for it, so I assume they would do just as well. That division will also still allow DE drafts. But I use the Home Service side mainly for people that need regular collections or some other payment method besides Auto Draft, so I don’t have much experience with how proficient they are with drafting.