I remember when Liberty National came into my area to build debits.. They had a couple of agents cold calling door 2 door for 8-10 hours per day. Rough way to make a living for most agents but they were selling the hound out of their weekly premium product.
Looking For Names Of Debit Companies
- Thread starter Rearden
- Start date
wilhelmagency
New Member
Home service since 1980. Equitable or Washington DC. Fred Greg was our President. He was also quite a baseball player and Jimmy Carter's Sunday School Teacher at the time.
United Life, Home Mutual, Peoples,
Integrity National, Citizens Security,
Columbian Mutual, Liberty Bankers.
Currently the last 25 years I do 70 percent HS the rest is Bank Draft.
United Life, Home Mutual, Peoples,
Integrity National, Citizens Security,
Columbian Mutual, Liberty Bankers.
Currently the last 25 years I do 70 percent HS the rest is Bank Draft.
wilhelmagency
New Member
Don't forget Durham Insurance
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Mutual of Detroit
- 5,958
@shonceman are you writing all your home service with one carrier, or do you have a main carrier with secondary carriers for prospects that don't qualify with your main?
- 4,304
I have secondary carriers that I use for various reasons. They're not necessarily all home service companies. If they'll direct bill monthly and accept checks from my agency account, I'll collect premiums as though they were home service companies. Then, at the end of the week, for each carrier, I make a list of the policies I collected and mail a check for the total. None of the companies I've tried that with has ever objected.
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How do you find your persistency is with those clients he choose direct bill?
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I was mainly talking about companies that direct bill, but allow me to collect and mail the premium on behalf of the client. That persistency is the same as my true debit business, which usually runs in the 80-90% range.
But I do have quite a few that mail in from out of the area. Most of those are orphan policyholders, so they already have business with the company. That persistency is actually just as good as my bank drafted business. If I were writing new clients on direct bill, I suspect the persistency would be lower.
I was trained to be very low pressure. Captive debit guys get penalized and lose FYC when ANY policy lapses, so you learn how to write good business that will stick, no matter what mode of payment. (You also learn to babysit them hard until after the 13th payment! LOL!)
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Kenneth Busch
Expert
- 35
I used to go collect with my Dad in south Phoenix for Western Southern...good times
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