Did KSKJ stop paying renewals?

[Heretolearn]

I was just curious if anyone else has had any issues or taken notice to not receiving full renewals from ksjk? Specifically after a terminated contract (that was not for cause)? If there are others in the same circumstances I would like to chat.

 

[bboman23]

I don't use KSJK, but I would doubt this happened intentionally. If it did, there would be a lot of buzz about it. Did your renewals fall past the threshold? Most carriers stop renewals if they fall below a certain amount, or they change how often they pay if it falls below a certain amount.

 

[Heretolearn]

Well as far as I can tell. I haven't recieved any renewals since 2020. I wrote them enough to have won their trip 4 yrs in a row. I know their requirements are the lowest but still it was a good bit of business. About 325 policies I think. I'm told my persistency was higher than the norm. My contract says 110, 7.5,6,5.25, then 4.5% for yrs 5 through 10. Then 2.25 for life. I wrote them from 2015 to January of 2019. So all 4 yrs of business should still be bringing in renewals. In 2021 I should have been receiving 5.25 on 2018 and 4.5 on all previpous business. But nada. I understand the part about if it's too low they just pay annually. Only problem with that is math doesn't line up. And checking what they did pay after I termed my contract the math really doesn't line up. It's as if 95% of my business fell off the books in less than a year. And being that it was kskj rates we know there wasn't many replacements. I'm not making any accusations. But something isn't kosher here. I only wrote transamerica for like a year before I got ksjk and I'm still getting large trans deposits monthly.

I don't use KSJK, but I would doubt this happened intentionally. If it did, there would be a lot of buzz about it. Did your renewals fall past the threshold? Most carriers stop renewals if they fall below a certain amount, or they change how often they pay if it falls below a certain amount.

 

[bboman23]

Well as far as I can tell. I haven't recieved any renewals since 2020. I wrote them enough to have won their trip 4 yrs in a row. I know their requirements are the lowest but still it was a good bit of business. About 325 policies I think. I'm told my persistency was higher than the norm. My contract says 110, 7.5,6,5.25, then 4.5% for yrs 5 through 10. Then 2.25 for life. I wrote them from 2015 to January of 2019. So all 4 yrs of business should still be bringing in renewals. In 2021 I should have been receiving 5.25 on 2018 and 4.5 on all previpous business. But nada. I understand the part about if it's too low they just pay annually. Only problem with that is math doesn't line up. And checking what they did pay after I termed my contract the math really doesn't line up. It's as if 95% of my business fell off the books in less than a year. And being that it was kskj rates we know there wasn't many replacements. I'm not making any accusations. But something isn't kosher here. I only wrote transamerica for like a year before I got ksjk and I'm still getting large trans deposits monthly.

That definitely seems odd. Have you checked with them to see if you have a chargeback balance? If you had some policies fall off, it could take a while for renewals to pay that debt off.

 

[Newby]

It would make sense to give them a call. My guess would be that you had a contestable death claim that charged back and your renewals are going toward that. But that’s just a guess.

 

[Heretolearn]

That definitely seems odd. Have you checked with them to see if you have a chargeback balance? If you had some policies fall off, it could take a while for renewals to pay that debt off.

That's not possible. I stopped writing them January of 2019. They continued to pay some renewals till December 2020. That's the last payment. It's like in 2021 they just said we are done. Chargebacks are in the 1st year. Trust me I'd like to think there is an explanation or some kind of mistake. But the math smells fishy brother. I'm just saying. Not accusing though. Just trying to wrap my mind around how it's even possible.

 

[Heretolearn]

It would make sense to give them a call. My guess would be that you had a contestable death claim that charged back and your renewals are going toward that. But that’s just a guess.

4 yrs of beginning higher renewals of a decent book of business and not one renewal since 2020? But either way that doesn't make sense. I stopped writing 1/19. I recieved some renewals into Dec 2020. So it makes no sense for them to stop after Dec 2020 for death claims that are well beyond 12 months. Math doesn't line up ‍‍

 

[jdeasy]

4 yrs of beginning higher renewals of a decent book of business and not one renewal since 2020? But either way that doesn't make sense. I stopped writing 1/19. I recieved some renewals into Dec 2020. So it makes no sense for them to stop after Dec 2020 for death claims that are well beyond 12 months. Math doesn't line up ‍

You will most definitely be charged back for a rescinded death claim no matter how long ago it was. I don't know if that's what happened to you. But that can happen. I was charged back a couple years by RNA on a death claim from 2011. Apparently it had been tied up in litigation for all those years. But once settled I was charged back.

But I was told about it. I don't know how KSKJ does the commissions on terminated agents. Every company I'm no longer contracted with still pays me and I get commission reports. I haven't been contracted with RNA for over 5 years but I can still the commission report on line. Seems all of them pay once a month to termed agents.

BF for one. I haven't been contracted with them for over 2 years. They pay me once a month and I can go to the commission reports for me. Nothing else. I can't even see my BoB there. But I can access commissions.

Are you getting commission reports from KSKJ? Can you go on line and see your commission reports?

They owe you an explanation. When it goes years it makes it more difficult. I recently got a small bill from LS. I haven't been contracted with them for almost 3 years. They said they paid me on a policy that was not taken. Back in April 2019. This is the first I'm hearing of it. I told them to show me where they paid me and I will repay it if I owe. So far they haven't provided any proof. It's not enough that they can Vector me for so I'll wait it out. I did tell Scott that if they roll it up to them I will pay it.

No one cars as much about your pay as you. Companies do get it wrong sometimes. Make them show you and then fight it like hell if it's wrong.

 

[Heretolearn]

You will most definitely be charged back for a rescinded death claim no matter how long ago it was. I don't know if that's what happened to you. But that can happen. I was charged back a couple years by RNA on a death claim from 2011. Apparently it had been tied up in litigation for all those years. But once settled I was charged back.

But I was told about it. I don't know how KSKJ does the commissions on terminated agents. Every company I'm no longer contracted with still pays me and I get commission reports. I haven't been contracted with RNA for over 5 years but I can still the commission report on line. Seems all of them pay once a month to termed agents.

BF for one. I haven't been contracted with them for over 2 years. They pay me once a month and I can go to the commission reports for me. Nothing else. I can't even see my BoB there. But I can access commissions.

Are you getting commission reports from KSKJ? Can you go on line and see your commission reports?

They owe you an explanation. When it goes years it makes it more difficult. I recently got a small bill from LS. I haven't been contracted with them for almost 3 years. They said they paid me on a policy that was not taken. Back in April 2019. This is the first I'm hearing of it. I told them to show me where they paid me and I will repay it if I owe. So far they haven't provided any proof. It's not enough that they can Vector me for so I'll wait it out. I did tell Scott that if they roll it up to them I will pay it.

No one cars as much about your pay as you. Companies do get it wrong sometimes. Make them show you and then fight it like hell if it's wrong.

I don't get anything from them. And I have no log in anymore. To be honest I don't remember ever having a log in or needing to use it. Fortunately I do have my entire book of business that was sent to me 2 months before I termed the contract. How can they charge me back 2, 3 or 4 yrs later? If I stopped writing in 1/19 why would they still pay me some for another 23 months and then just cut it completely? If that was the case then they are charging me back 24 months after writing the policy(if there is one and i happened to write it 1/19) and it was such a big policy that all 4 yrs of renewals are whiped out till now and who knows how much longer? I think it's somewhere around 10 to 12k missing per year. So lets say its only 8k 2021, 6k 2022, and 4k 2023. That's counting a hyge percentage dropping off. Thats 18k in renewals. So depending on rate that's 20 to 30 death claims they are holding from one month? I didn't write that many to them in 1/19. I just don't see how it's possible. What are they making me pay the death benefit instead of my commission back?

 

[shonceman]

I don't get anything from them. And I have no log in anymore. To be honest I don't remember ever having a log in or needing to use it. Fortunately I do have my entire book of business that was sent to me 2 months before I termed the contract. How can they charge me back 2, 3 or 4 yrs later? If I stopped writing in 1/19 why would they still pay me some for another 23 months and then just cut it completely? If that was the case then they are charging me back 24 months after writing the policy(if there is one and i happened to write it 1/19) and it was such a big policy that all 4 yrs of renewals are whiped out till now and who knows how much longer? I think it's somewhere around 10 to 12k missing per year. So lets say its only 8k 2021, 6k 2022, and 4k 2023. That's counting a hyge percentage dropping off. Thats 18k in renewals. So depending on rate that's 20 to 30 death claims they are holding from one month? I didn't write that many to them in 1/19. I just don't see how it's possible. What are they making me pay the death benefit instead of my commission back?

Just call them. It would have been better to call them as soon as you realized there was a problem. But call them anyway. They’ll either fix it or tell you why they can’t.