Flaw in Trans-america Commission System

Discussion in 'Final Expense Forum' started by thespur1, Aug 7, 2017.

  1. thespur1
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    thespur1 Well-Known Member

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    Hello fellow agents,

    ran across something with trans and wanted to know how you guys deal with it.

    had a client with a policy that we back date it in order to save age. the policy was re issued with new age. the next draft cyle on my commission statement it was showing as not taken and i was charged back. I called and confirmed that the policy was still on the books, and they transferred me to commission dept.

    here is my big concern, the commission dept says anytime a policy has to be re issued for any reason they will charge back the original payment and the only way to reverse that is to actually call them and they will release commissions and reverse the charge-back. she also said departments within the company don't talk to each other.

    my worry is that, you have to comb thru your statement every week and call to see if a policy is really off the books or they are just withholding it. and if you happen to not catch it that week then, it will not appear the next week. so it could be swept under the rug and you could have multiple policy's and never even know it. it will not re appear on the next weeks statement reminding you that it still a charge back. and she also said they do not call,email or notify you.

    i am new to trans and any trans experts please help.

    thanks in advance
     
  2. Todd King
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    Todd King Well-Known Member

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    This all sounds quite possible with Trans, especially the part where the different departments don't communicate. That's a fact!

    However, this only happened because it had to be re-issued. Not many times that you have to do this, so there shouldn't be much that you have to keep your eye out for.
     
  3. Baseball7
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    Baseball7 Well-Known Member

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    Keep track of your pending business on a legal pad until you can verify you were paid for it. I've had a few Trans cases coded "as earned" by accident.
     
  4. BibH
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    BibH Well-Known Member

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    On the other hand I've had a few direct express cases advanced . It all washes out in the end
     
  5. Baseball7
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    Baseball7 Well-Known Member

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    Yup, just got a big accidental advance on a DE case, hopefully it sticks.
     
  6. billyb
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    billyb Well-Known Member

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    I write with so many companies that I only track advances and am not sure if I ever get paid after that. Don't have time so you just have to trust the companies to do the right thing.
     
  7. johnsonvillebrock
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    johnsonvillebrock Member

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    who seriously still writes with TA????? - they are bipolar in their underwriting and now I find out theyre commission dept is run the same way,,,, great!
     
  8. indiana260
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    indiana260 Well-Known Member

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    I write Trans. I like them. You just have to fill out the app correctly.

    As for the UW... I find them to be the most predicable and in many cases the most lenient. If they would only get rid of the insulin question they would be my go to.
    I use the Rx tool and can't think of one case, that the client was totally honest about, that hasn't been approved as applied
     
  9. HoosierLife
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    HoosierLife Well-Known Member

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    Totally honest is the key. I write a lot of trans too. Only time I have an issue is with inhalers that weren't revealed to me.

    And I ask that question 3 ways: "Any lung conditions?" "Any copd, asthma or emphysema?" "They ever prescribe you any inhalers?"

    Blows my mind how many will answer no to the first 2 questions and magically answer yes to the 3rd :/
     
  10. indiana260
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    indiana260 Well-Known Member

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    That is a FE Golden Nugget. After reviewing the health history and Rx I always ask. It truly is a 50/50 shot
     
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