Direct Express

[Agentguy5]

How is the chargeback on DE higher than on checking when you're only paid as earned on DE? SMH

 

[BibH]

I think he means the lapse rate much higher . I stopped writing Gi with de cards as so many lapse in first 2 months it was waste of time . Unless they can qualify for rop with prosperity I walk .

 

[noah]

I think he means the lapse rate much higher . I stopped writing Gi with de cards as so many lapse in first 2 months it was waste of time . Unless they can qualify for rop with prosperity I walk .

How close is Prosperity ROP to true GI ? Oxygen ?

Recent cancer,stents,CHF....?

2 or 3 year look back ?

How do their rates compare to Great Western ?

 

[BibH]

No oxygen on rop. They'll take chf and cancer as long as no current treatment ( But only 1 occurance ever). They'll take any type of heart issues . But here's the kicker the price . Age 65 $10k - $125.05 . Great western $92.08. BUT there never going to get past a few payments with Great western . Thats what i sell if their near GI and have a de card. They either take it or i walk.

 

[noah]

No oxygen on rop. They'll take chf and cancer as long as no current treatment ( But only 1 occurance ever). They'll take any type of heart issues . But here's the kicker the price . Age 65 $10k - $125.05 . Great western $92.08. BUT there never going to get past a few payments with Great western . Thats what i sell if their near GI and have a de card. They either take it or i walk.

They usually have no coverage.

I try to keep them well under 10k on GI if possible.

I'm only using it as a last resort.

I paid for the lead,I'm there,I can do an eapp with GW in 10 minutes.

It's as earned.

That ROP is very high.

What if they have a bank account?

 

[BibH]

Same price either checking or de . But Great western has a 3 month chargeback for lapses . I just got hit with one on a de card .With De card I'd write Gerber as no lapse chargeback . Aig has a % of first 6 months chargeback.Were i use GW is if there really sick and 2 yrs could be iffy . 9 month chargeback for death best in the industry . I've probably had 6 plus claims with GW in 6 yrs . They pay the claims fast.

 

[theinsuranceman]

It is not just the charge back that will kill you, it is the poor persistency.. With many companies that will cost you benefits such as bonuses, trips, etc. And, in a worse case scenario can even get your contract terminated.

I like the way Sr Life does it. DE persistency is not included in calculations for trips, etc.

 

[theinsuranceman]

so there are no carriers that have true ss billing for GI and DirectExpress? gerber has no ss billing? gerber comm is low? any idea how much commission for gerber? ,, they are usually less on premium than aig for GI. I know aig and gtl are 75% comm for some agents.. if aig has no ss billing.. who else to use. with true ss billing but still have a competitive rate, regardless of direct express?

Sr Life can bill DE cards by date of the month (3rd for ex) or day of the week (2nd Wed each month). FE carriers that don't do this are run by people who don't really know the industry as well as their competitors.

 

[theinsuranceman]

Same price either checking or de . But Great western has a 3 month charge back for lapses. With De card I'd write Gerber as no lapse chargebac 3 month chargeback for lapses . I just got hit with one on a de cardk . Aig has a % of first 6 months chargeback.Were i use GW is if there really sick and 2 yrs could be iffy . 9 month chargeback for death best in the industry . I've probably had 6 plus claims with GW in 6 yrs . They pay the claims fast.

Are you saying Great Western advances on DE cards?

 

[BibH]

No but if i recall Transamerica started advancing again on De business a year or so ago . I haven't written a Trans De in a long time . But prosperity doesn't advance on de business . I'm on as earned with all my contracts . I don't even want advancement on all my mapd business but i believe you have to .