Do you know a company that will write an 87 yr old? He had back surgery 3 weeks ago.
Final Expense for 87 Yr Old?
- Thread starter mcday
- Start date
Make sure you believe he will live at least 1 or 2 years if you find a company to that will take him or you will be just wasting your time and giving back all your commissions.
At age 87, to have back surgery is almost the kiss of death.
- 17,073
Markingriffin said:
Aren't American Continental's chargebacks only on unearned commissions?
Lets say you write this guy up. He dies 2 months from now. Are you saying that most companies or American Continental wont take back all the commissions you have earn? The two months in this case if you are on as earn or the full 9 month if you are advanced?
If the guy dies, you wont make a profit correct? So when I say, that you are wasting your time, if you dont believe he is going to make it a year, am I wrong or right?
- 15,041
If the claim is paid, you only owe on the unearned premium. You get to keep commission on the paid premium.
http://fexcontracting.com/wp-content/uploads/2012/08/Aetna-AmCont-Agent-Contracting.pdf
Page 11 "We will charge back any paid but unearned commissions or other compensation that result from lapsed, cancelled,
surrendered, rescinded, or not taken policies based on the portion of the refunded or uncollected premium. In addition, we will
charge back commissions paid due to the death of a policyholder which occurs either within 6 months of the policy effective
date for the Graded Benefit Plan, or within 12 months of the policy effective date for the Modified Benefit Plan. Commissions
on policy reissues, exchanges, reinstatements or replacements between and within Company and Company affiliates are
subject to the Company's compensation rules. In any case where a commission or other compensation charge back is due
the Company, the Company may offset the commission or other compensation charge back amount against any commission
or compensation otherwise payable to you by the Company or any affiliate of the Company."
" In addition, we will
charge back commissions paid due to the death of a policyholder which occurs either within 6 months of the policy effective
date for the Graded Benefit Plan, or within 12 months of the policy effective date for the Modified Benefit Plan."
Is what I'm talking about.
Page 11 "We will charge back any paid but unearned commissions or other compensation that result from lapsed, cancelled,
surrendered, rescinded, or not taken policies based on the portion of the refunded or uncollected premium. In addition, we will
charge back commissions paid due to the death of a policyholder which occurs either within 6 months of the policy effective
date for the Graded Benefit Plan, or within 12 months of the policy effective date for the Modified Benefit Plan. Commissions
on policy reissues, exchanges, reinstatements or replacements between and within Company and Company affiliates are
subject to the Company's compensation rules. In any case where a commission or other compensation charge back is due
the Company, the Company may offset the commission or other compensation charge back amount against any commission
or compensation otherwise payable to you by the Company or any affiliate of the Company."
" In addition, we will
charge back commissions paid due to the death of a policyholder which occurs either within 6 months of the policy effective
date for the Graded Benefit Plan, or within 12 months of the policy effective date for the Modified Benefit Plan."
Is what I'm talking about.
- 15,041
An 87 year old can only get the level plan, so none of that about Graded or Modified matters. Also, they don't care about back surgery unless it has left the person in a wheelchair, nursing home, or some other lasting effect.
- 4,686
An 87 year old can only get the level plan, so none of that about Graded or Modified matters. Also, they don't care about back surgery unless it has left the person in a wheelchair, nursing home, or some other lasting effect.
*********************************************
I think just about everything that happens to an 87 yr old has a lasting effect.
*********************************************
I think just about everything that happens to an 87 yr old has a lasting effect.
- 4,306
I understand Security National Life will go to age 89.
Similar threads
