MedSupp commission when enrolling early

[J2727]

If you enroll someone in a MedSupp months before they T65...

Is the advanced commission paid at that time or on the effective date?

Does the monthly renewal commission start on the anniversary of the app date or the effective date?

Does it vary by carrier?

 

[David Taylor Jr]

Varies by carrier.

 

[goillini52]

If you enroll someone in a MedSupp months before they T65...

Is the advanced commission paid at that time or on the effective date?

Does the monthly renewal commission start on the anniversary of the app date or the effective date?

Does it vary by carrier?

Most pay upon issue when the 1st draft is made. If you have them draft the 1st premium immediately, you'll get paid early.

 

[David Taylor Jr]

Most pay upon issue when the 1st draft is made. If you have them draft the 1st premium immediately, you'll get paid early.

Of course if they cancel.....

 

[goillini52]

Of course if they cancel.....

That's true whether they're T-65 or 85.

 

[Bevo]

Of course if they cancel.....

Then you didn't deserve the commission anyway.

 

[David Taylor Jr]

That's true whether they're T-65 or 85.

Right but if they cancel before the policy ever went into effect you lose that commission. I hate getting paid early on things. I don't like advances either. Although, it is not as bad in the Senior Market as it is the <65 Market.

 

[goillini52]

Right but if they cancel before the policy ever went into effect you lose that commission. I hate getting paid early on things. I don't like advances either. Although, it is not as bad in the Senior Market as it is the <65 Market.

Too each his own. Like Bevo said, if they cancel we don't deserve the premium. I can't recall ever having one cancel after taking the Med Supp early. I always make it clear to them that now they can ignore all the phone calls, junk mail and misleading MAPD commercials on T.V., because they have it taken care of now and they already have the best with the best.

 

[David Taylor Jr]

Too each his own. Like Bevo said, if they cancel we don't deserve the premium. I can't recall ever having one cancel after taking the Med Supp early. I always make it clear to them that now they can ignore all the phone calls and, junk mail and misleading MAPD commercials on T.V., because they have it taken care of now and they already have the best with the best.

I've never had it happen in the Medicare market. But like I said, something they should be aware of.

 

[goillini52]

I've never had it happen in the Medicare market. But like I said, something they should be aware of.

Cancellations are a part of the business. It's a chance we take everytime we write a policy.